Latin America and the Caribbean: Agricultural Harvester Market 2024

Agricultural Harvester Market Size in Latin America and the Caribbean

The Latin American agricultural harvester market rose slightly to $X in 2023, growing by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Agricultural Harvester Production in Latin America and the Caribbean

In value terms, agricultural harvester production rose slightly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a mild decrease. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

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Agricultural Harvester Exports

Exports in Latin America and the Caribbean

In 2023, overseas shipments of agricultural harvesters decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, exports saw a deep contraction. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, agricultural harvester exports stood at $X in 2023. Over the period under review, exports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Brazil dominates exports structure, recording X units, which was approx. X% of total exports in 2023. It was distantly followed by Argentina (X units), making up a X% share of total exports.

Brazil was also the fastest-growing in terms of the agricultural harvesters exports, with a CAGR of X% from 2012 to 2023. Argentina (X%) illustrated a downward trend over the same period. Brazil (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Brazil ($X) remains the largest agricultural harvester supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports.

In Brazil, agricultural harvester exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, growing by X% against the previous year. Export price indicated tangible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, agricultural harvester export price increased by X% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Argentina stood at $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%).

Agricultural Harvester Imports

Imports in Latin America and the Caribbean

In 2023, overseas purchases of agricultural harvesters increased by X% to X units, rising for the third year in a row after three years of decline. In general, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, agricultural harvester imports amounted to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Brazil (X units), Argentina (X units) and Mexico (X units) represented roughly X% of total imports in 2023. It was distantly followed by Paraguay (X units) and Colombia (X units), together making up a X% share of total imports. The following importers - Chile (X units), Peru (X units), Bolivia (X units), Uruguay (X units), Guatemala (X units) and Ecuador (X units) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Colombia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported agricultural harvesters in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Paraguay ($X), with an X% share of total imports. It was followed by Mexico, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Paraguay (X% per year) and Mexico (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2023, growing by X% against the previous year. Import price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, agricultural harvester import price increased by X% against 2021 indices. The growth pace was the most rapid in 2022 when the import price increased by X%. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Uruguay ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bolivia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform