Pakistan: Plough Market 2024

Plough Market Size in Pakistan

In 2022, the Pakistani plough market decreased by X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption showed a perceptible downturn. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Plough Production in Pakistan

In value terms, plough production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Plough Exports

Exports from Pakistan

Plough exports from Pakistan surged to X units in 2022, jumping by X% against the previous year's figure. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, plough exports soared to $X in 2022. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Nigeria (X units), Botswana (X units) and Angola (X units) were the main destinations of plough exports from Pakistan, with a combined X% share of total exports. Tanzania, Sri Lanka, Somalia, Ghana, Kenya, Benin, Zimbabwe, the United Arab Emirates, the Netherlands and Afghanistan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Benin (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Botswana ($X) and Angola ($X) constituted the largest markets for plough exported from Pakistan worldwide, with a combined X% share of total exports. Tanzania, Sri Lanka, Somalia, Ghana, Kenya, Benin, Zimbabwe, the United Arab Emirates, the Netherlands and Afghanistan lagged somewhat behind, together accounting for a further X%.

Benin, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plough export price amounted to $X per unit, falling by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2021, and then declined in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Afghanistan ($X per unit) and the Netherlands ($X per unit), while the average price for exports to Somalia ($X per unit) and Sri Lanka ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plough Imports

Imports into Pakistan

In 2022, the amount of ploughs for agricultural purposes imported into Pakistan contracted notably to X units, falling by X% on the previous year's figure. Overall, imports faced a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, plough imports declined notably to $X in 2022. In general, imports faced a precipitous setback. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X units) and South Korea (X units) were the main suppliers of plough imports to Pakistan. Moreover, plough imports in Turkey exceeded the figures recorded by the second-largest supplier, South Korea, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%).

In value terms, Turkey ($X) constituted the largest supplier of ploughs for agricultural purposes to Pakistan, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey was relatively modest.

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the import price showed a pronounced decline. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for South Korea totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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