Price for Tractors; (Other than Tractors of Heading No 8709) in Spain - 2023

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Spain (FOB) - 2022
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Spain (CIF) - 2022
3. Exports of Tractors; (Other than Tractors of Heading No 8709) in Spain
4. Imports of Tractors; (Other than Tractors of Heading No 8709) in Spain

Price for Tractors; (Other than Tractors of Heading No 8709) in Spain (FOB) - 2022

The average export price for tractors; (other than tractors of heading no 8709)s stood at $42,859 per unit in 2022, shrinking by -4.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 32% against the previous year. Over the period under review, the average export prices reached the maximum at $73,960 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($67,970 per unit), while the average price for exports to the United Arab Emirates ($17,482 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Tractors; (Other than Tractors of Heading No 8709) in Spain (CIF) - 2022

The average import price for tractors; (other than tractors of heading no 8709)s stood at $13,963 per unit in 2022, falling by -29.1% against the previous year. Overall, the import price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 48% against the previous year. Over the period under review, average import prices reached the peak figure at $56,248 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($47,464 per unit), while the price for China ($1,293 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Tractors; (Other than Tractors of Heading No 8709) in Spain

In 2022, exports of tractors; (other than tractors of heading no 8709)s from Spain soared to 48K units, increasing by 15% against the previous year's figure. Overall, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.2% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 24% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of tractors; (other than tractors of heading no 8709)s rose remarkably to $2B in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.4% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 30%. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Spain in 2022:

1. Italy (27.6K units)
2. United Arab Emirates (2.5K units)
3. Turkey (2.4K units)
4. Portugal (1.6K units)
5. United Kingdom (1.6K units)
6. Germany (1.1K units)
7. France (0.9K units)
8. Morocco (0.9K units)
9. Saudi Arabia (0.8K units)
10. Netherlands (0.8K units)
11. Libya (0.8K units)
12. Belgium (0.4K units)
13. Poland (0.3K units)

Imports of Tractors; (Other than Tractors of Heading No 8709) in Spain

In 2022, imports of tractors; (other than tractors of heading no 8709)s into Spain surged to 108K units, jumping by 51% on the previous year. Over the period under review, imports recorded prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of tractors; (other than tractors of heading no 8709)s expanded sharply to $1.5B in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 23%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Spain in 2022:

1. Italy (39.4K units)
2. France (23.5K units)
3. China (10.3K units)
4. Netherlands (8.9K units)
5. Belgium (5.2K units)
6. Germany (5.1K units)
7. Turkey (3.5K units)

Source: IndexBox Market Intelligence Platform