Iraq: Market for Agricultural And Forestry Tractors 2023

Market Size for Agricultural And Forestry Tractors in Iraq

The Iraqi agricultural and forestry tractor market declined remarkably to $X in 2021, dropping by -32.2% 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). Overall, consumption continues to indicate a deep contraction. Agricultural and forestry tractor consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Iraq

In 2021, approx. X units of agricultural and forestry tractors were exported from Iraq; picking up by 125% on the previous year. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 700% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, agricultural and forestry tractor exports expanded remarkably to $X in 2021. Overall, exports recorded mild growth. The most prominent rate of growth was recorded in 2018 when exports increased by 452% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X units) and the Netherlands (X units) were the main destinations of agricultural and forestry tractor exports from Iraq.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +17.0%).

In value terms, Turkey ($X) remains the key foreign market for agricultural and forestry tractors exports from Iraq, comprising 69% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled -2.2%.

Export Prices by Country

The average agricultural and forestry tractor export price stood at $X per unit in 2021, falling by -52.5% against the previous year. Over the period under review, the export price saw a deep setback. The pace of growth appeared the most rapid in 2019 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the Netherlands amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.0%).

Imports of Agricultural And Forestry Tractors

Imports into Iraq

In 2021, agricultural and forestry tractor imports into Iraq reduced notably to X units, declining by -23.8% against the previous year's figure. Overall, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2019 when imports increased by 89%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural and forestry tractor imports reduced rapidly to $X in 2021. Over the period under review, imports saw a abrupt descent. The growth pace was the most rapid in 2019 when imports increased by 113% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X units), Spain (X units) and Germany (X units) were the main suppliers of agricultural and forestry tractor imports to Iraq, with a combined 37% share of total imports. These countries were followed by India, Italy, Romania, the Netherlands, Japan, Poland, France and the UK, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +45.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of agricultural and forestry tractors to Iraq, comprising 21% of total imports. The second position in the ranking was held by Germany ($X), with a 7.6% share of total imports. It was followed by Poland, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey totaled -17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.1% per year) and Poland (+57.9% per year).

Import Prices by Country

The average agricultural and forestry tractor import price stood at $X per unit in 2021, with a decrease of -18.8% against the previous year. Overall, the import price showed a noticeable decrease. The growth pace was the most rapid in 2019 an increase of 13%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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