Price for Tractors; (Other than Tractors of Heading No 8709) in Mexico - 2023

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Mexico (FOB) - 2022
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Mexico (CIF) - 2022
3. Exports of Tractors; (Other than Tractors of Heading No 8709) in Mexico
4. Imports of Tractors; (Other than Tractors of Heading No 8709) in Mexico

Price for Tractors; (Other than Tractors of Heading No 8709) in Mexico (FOB) - 2022

The average export price for tractors; (other than tractors of heading no 8709)s stood at $39,712 per unit in 2022, with a decrease of -1.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28% against the previous year. The export price peaked at $43,765 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($92,097 per unit), while the average price for exports to Colombia ($35,996 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 Canada (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Tractors; (Other than Tractors of Heading No 8709) in Mexico (CIF) - 2022

The average import price for tractors; (other than tractors of heading no 8709)s stood at $155,322 per unit in 2022, with an increase of 33% against the previous year. Overall, the import price saw significant growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 84% 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 China ($1,626,565 per unit), while the price for the United States ($76,157 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+53.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Tractors; (Other than Tractors of Heading No 8709) in Mexico

In 2022, exports of tractors; (other than tractors of heading no 8709)s from Mexico surged to 305K units, growing by 44% compared with the year before. Overall, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.7% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of tractors; (other than tractors of heading no 8709)s soared to $12.1B in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +6.0% 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 +81.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Mexico in 2022:

1. United States (288.0K units)
2. Canada (6.4K units)
3. Colombia (5.5K units)

Imports of Tractors; (Other than Tractors of Heading No 8709) in Mexico

In 2022, after two years of decline, there was significant growth in supplies from abroad of tractors; (other than tractors of heading no 8709)s, when their volume increased by 6.3% to 2.5K units. Overall, imports, however, faced a deep contraction. Imports peaked at 4.8K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tractors; (other than tractors of heading no 8709)s skyrocketed to $394M in 2022. Over the period under review, imports, however, recorded a perceptible downturn. Imports peaked at $446M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Mexico in 2022:

1. United States (2387.0 units)
2. India (61.0 units)

Source: IndexBox Market Intelligence Platform