Cyprus: Tractor Market 2020

Tractor Market Size in Cyprus

The revenue of the tractor market in Cyprus amounted to $X in 2018, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, tractor consumption continues to indicate an abrupt shrinkage. The most prominent rate of growth was recorded in 2008 when the market value increased by X% y-o-y. In that year, the tractor market attained its peak level of $X. From 2009 to 2018, the growth of the tractor market remained at a lower figure.

Tractor Exports

Exports from Cyprus

Tractor exports from Cyprus amounted to X units in 2018, declining by -X% against the previous year. In general, tractor exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Cyprus exports peaked at X units in 2015; however, from 2016 to 2018, exports remained at a lower figure.

In value terms, tractor exports amounted to $X in 2018. Overall, tractor exports, however, continue to indicate an outstanding expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. Over the period under review, tractor exports attained their peak figure at $X in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

Exports by Country

The UK (X units), Japan (X units), Germany (X units), the U.S. (X units), Belarus (X units), India (X units), Italy (X units), South Korea (X units), China (X units), France (X units), Thailand (X units) and Turkey (X units) represented roughly X% of total exports of tractors in 2018.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by South Korea, while the other leaders experienced more modest paces of growth.

In value terms, the largest tractor markets from Cyprus were Germany ($X), the U.S. ($X) and Japan ($X), together accounting for X% of total exports. Italy, the UK, France, India, South Korea, China, Belarus, Turkey, Thailand and Cyprus lagged somewhat behind, together accounting for a further X the main exporting countries, Cyprus experienced the highest rates of growth with regard to exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The tractor export price in Cyprus stood at $X per unit in 2018, growing by X% against the previous year. Overall, the tractor export price continues to indicate a skyrocketing expansion. The pace of growth appeared the most rapid in 2018 when the export price increased by X% year-to-year. In that year, the export prices for tractors attained their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was France ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Thailand, while the other leaders experienced more modest paces of growth.

Tractor Imports

Imports into Cyprus

Tractor imports into Cyprus amounted to X units in 2018, going down by -X% against the previous year. Overall, tractor imports continue to indicate an abrupt deduction. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Cyprus imports peaked at X units in 2008; however, from 2009 to 2018, imports remained at a lower figure.

In value terms, tractor imports amounted to $X in 2018. Over the period under review, tractor imports continue to indicate a slight slump. The pace of growth appeared the most rapid in 2017 when imports increased by X% year-to-year. Over the period under review, tractor imports reached their peak figure at $X in 2009; however, from 2010 to 2018, imports remained at a lower figure.

Imports by Country

Free Zones (X units) and the U.S. (X units) represented roughly X% of total imports of tractors in 2018. It was distantly followed by Germany (X units), committing a X% share of total imports. France (X units), Ukraine (X units), Canada (X units), the UK (X units), the Netherlands (X units), Russia (X units), Italy (X units), Poland (X units) and Vietnam (X units) held a little share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Free Zones (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constitutes the largest market for imported tractors into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by France ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: France (+X% per year) and Canada (+X% per year).

Import Prices by Country

In 2018, the tractor import price in Cyprus amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the tractor import price continues to indicate a strong increase. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the import prices for tractors reached their peak figure in 2018 and is expected to retain its growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($X per unit), while Free Zones ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform