Price for Tractors; (Other than Tractors of Heading No 8709) in Turkey - 2024

Contents:

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

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

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $36,960 per unit, which is down by -2.8% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tractors; (other than tractors of heading no 8709)s increased by +17.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 39% against the previous year. The export price peaked at $38,016 per unit in 2021, and then reduced in the following year.

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 France ($64,005 per unit), while the average price for exports to Sudan ($6,774 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 Spain (+14.9%), 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 Turkey (CIF) - 2022

The average import price for tractors; (other than tractors of heading no 8709)s stood at $40,422 per unit in 2022, waning by -11.1% against the previous year. In general, the import price, however, recorded tangible growth. The growth pace was the most rapid in 2020 when the average import price increased by 150%. Over the period under review, average import prices hit record highs at $45,458 per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($94,690 per unit), while the price for China ($2,585 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, exports of tractors; (other than tractors of heading no 8709)s from Turkey skyrocketed to 51K units, picking up by 24% on 2021. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.8% 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 +55.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of tractors; (other than tractors of heading no 8709)s skyrocketed to $1.9B in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +11.6% 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 +82.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

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

1. United States (9.5K units)
2. Italy (7.9K units)
3. Germany (4.2K units)
4. Poland (4.0K units)
5. Spain (2.7K units)
6. Sudan (2.3K units)
7. France (2.2K units)
8. Portugal (1.5K units)
9. South Africa (1.0K units)
10. Australia (0.9K units)
11. Serbia (0.9K units)
12. Netherlands (0.8K units)
13. Iraq (0.3K units)

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

For the fourth year in a row, Turkey recorded growth in purchases abroad of tractors; (other than tractors of heading no 8709)s, which increased by 25% to 27K units in 2022. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 75%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of tractors; (other than tractors of heading no 8709)s expanded significantly to $1.1B in 2022. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 184% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

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

1. India (5.6K units)
2. France (4.9K units)
3. China (4.4K units)
4. Italy (2.4K units)
5. Japan (2.1K units)
6. Poland (1.7K units)
7. Spain (1.7K units)
8. Belgium (1.5K units)
9. Netherlands (1.4K units)
10. Germany (1.0K units)

Source: IndexBox Market Intelligence Platform