Libya: Market for Agricultural And Forestry Tractors 2023

Market Size for Agricultural And Forestry Tractors in Libya

The Libyan agricultural and forestry tractor market declined modestly to $X in 2021, which is down by -2.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Agricultural and forestry tractor consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Agricultural And Forestry Tractors in Libya

In value terms, agricultural and forestry tractor production dropped modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 43% against the previous year. Agricultural and forestry tractor production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Agricultural And Forestry Tractors

Exports from Libya

After four years of decline, overseas shipments of agricultural and forestry tractors decreased by 0% to X units in 2021. Overall, exports saw notable growth. The growth pace was the most rapid in 2015 with an increase of 1,900% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, agricultural and forestry tractor exports totaled $X in 2021. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 1,921%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units) was the main destination for agricultural and forestry tractor exports from Libya, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Guatemala was relatively modest.

From 2012 to 2021, the average annual growth rate of value to Guatemala was relatively modest.

Export Prices by Country

The average agricultural and forestry tractor export price stood at $X per unit in 2021, almost unchanged from the previous year. Overall, the export price faced a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 108%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Guatemala.

From 2012 to 2021, the rate of growth in terms of prices for Burkina Faso amounted to +65.6% per year.

Imports of Agricultural And Forestry Tractors

Imports into Libya

In 2021, agricultural and forestry tractor imports into Libya expanded to X units, surging by 3.8% compared with 2020 figures. In general, imports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2019 when imports increased by 1,562% against the previous year. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, agricultural and forestry tractor imports soared to $X in 2021. Overall, imports, however, recorded a deep reduction. The growth pace was the most rapid in 2019 when imports increased by 938% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), Pakistan (X units) and Kuwait (X units) were the main suppliers of agricultural and forestry tractor imports to Libya, with a combined 36% share of total imports. Switzerland, Spain, Germany, China and Italy lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural and forestry tractor suppliers to Libya were Pakistan ($X), India ($X) and Kuwait ($X), with a combined 33% share of total imports. Germany, Italy, Spain, China and Switzerland lagged somewhat behind, together comprising a further 13%.

Spain, with a CAGR of +12.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average agricultural and forestry tractor import price amounted to $X per unit, growing by 44% against the previous year. In general, the import price, however, recorded a mild curtailment. The pace of growth appeared the most rapid in 2015 an increase of 80%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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