Price for Tractors; (Other than Tractors of Heading No 8709) in the United States - 2024
Contents:
- Price for Tractors; (Other than Tractors of Heading No 8709) in the United States (CIF) - 2022
- Price for Tractors; (Other than Tractors of Heading No 8709) in the United States (FOB) - 2022
- Imports of Tractors; (Other than Tractors of Heading No 8709) in the United States
- Exports of Tractors; (Other than Tractors of Heading No 8709) in the United States
Price for Tractors; (Other than Tractors of Heading No 8709) in the United States (CIF) - 2022
The average import price for tractors; (other than tractors of heading no 8709)s stood at $55,914 per unit in 2022, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 19% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($168,077 per unit), while the price for Indonesia ($8,404 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tractors; (Other than Tractors of Heading No 8709) in the United States (FOB) - 2022
In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $62,603 per unit, with an increase of 16% against the previous year. Over the period under review, the export price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2018 an increase of 22%. The export price peaked at $70,845 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($96,524 per unit), while the average price for exports to Guatemala ($8,483 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tractors; (Other than Tractors of Heading No 8709) in the United States
In 2022, imports of tractors; (other than tractors of heading no 8709)s into the United States surged to 606K units, picking up by 29% on the year before. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 1,537% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of tractors; (other than tractors of heading no 8709)s surged to $33.9B in 2022. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 1,632%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Tractors; (Other than Tractors of Heading No 8709) in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 9.3 | 0.9 | 14.2 | 20.2 | 29.5% |
| Germany | 0.8 | 0.1 | 2.5 | 3.5 | 63.6% |
| Japan | 1.0 | 0.1 | 2.0 | 2.8 | 40.9% |
| South Korea | 0.4 | 0.1 | 1.4 | 1.8 | 65.1% |
| India | 0.2 | N/A | 0.7 | 1.3 | 86.6% |
| Turkey | 0.2 | N/A | 0.4 | 0.6 | 44.2% |
| Indonesia | 0.1 | N/A | 0.2 | 0.2 | 26.0% |
| Others | 1.4 | 0.1 | 2.4 | 3.3 | 33.1% |
| Total | 13.5 | 1.4 | 23.7 | 33.9 | 35.9% |
Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to the United States in 2022:
- Mexico (175.9K units)
- Japan (134.6K units)
- South Korea (126.2K units)
- India (56.8K units)
- Indonesia (22.8K units)
- Germany (21.1K units)
- Turkey (14.5K units)
Exports of Tractors; (Other than Tractors of Heading No 8709) in the United States
In 2022, exports of tractors; (other than tractors of heading no 8709)s from the United States rose modestly to 167K units, picking up by 4.9% compared with 2021 figures. Overall, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +22.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.2% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of tractors; (other than tractors of heading no 8709)s soared to $10.5B in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Tractors; (Other than Tractors of Heading No 8709) in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 3,396 | 3,167 | 4,786 | 6,082 | 21.4% |
| Australia | 425 | 702 | 784 | 1,239 | 42.9% |
| Mexico | 249 | 285 | 246 | 327 | 9.5% |
| South Africa | 93.2 | 154 | 167 | 254 | 39.7% |
| Netherlands | 28.1 | 77.7 | 131 | 196 | 91.1% |
| Guatemala | 22.0 | 37.2 | 52.0 | 26.8 | 6.8% |
| Nigeria | 33.9 | 51.7 | 51.9 | 21.4 | -14.2% |
| Others | 1,774 | 1,948 | 2,409 | 2,319 | 9.3% |
| Total | 6,020 | 6,422 | 8,628 | 10,464 | 20.2% |
Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from the United States in 2022:
- Canada (92.0K units)
- Australia (17.5K units)
- Mexico (16.6K units)
- Netherlands (9.4K units)
- Guatemala (3.2K units)
- South Africa (2.6K units)
- Nigeria (1.5K units)
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