Price for Tractors; (Other than Tractors of Heading No 8709) in New Zealand - 2024

Contents:

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

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

The average import price for tractors; (other than tractors of heading no 8709)s stood at $50,713 per unit in 2022, shrinking by -11.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 11%. The import price peaked at $57,295 per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($146,027 per unit), while the price for Indonesia ($5,663 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), 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 New Zealand (FOB) - 2022

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $23,805 per unit, waning by -10.9% against the previous year. In general, the export price, however, showed resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 112%. As a result, the export price attained the peak level of $49,897 per unit. From 2021 to 2022, the average export prices failed to regain momentum.

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 Australia ($57,257 per unit), while the average price for exports to Norfolk Island ($2,107 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 Thailand (+18.4%), 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 New Zealand

In 2022, imports of tractors; (other than tractors of heading no 8709)s into New Zealand surged to 6.8K units, with an increase of 22% on the year before. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +6.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of tractors; (other than tractors of heading no 8709)s expanded markedly to $345M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +5.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 77%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

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

1. Germany (1054.0 units)
2. Italy (964.0 units)
3. Japan (962.0 units)
4. United States (774.0 units)
5. South Korea (591.0 units)
6. France (536.0 units)
7. United Kingdom (437.0 units)
8. Australia (291.0 units)
9. India (268.0 units)
10. China (239.0 units)
11. Austria (214.0 units)
12. Indonesia (140.0 units)

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

In 2022, approx. 152 units of tractors; (other than tractors of heading no 8709)s were exported from New Zealand; increasing by 4.8% on the previous year. Overall, exports, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 23% against the previous year. As a result, the exports reached the peak of 198 units. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of tractors; (other than tractors of heading no 8709)s shrank to $3.6M in 2022. Over the period under review, exports, however, continue to indicate a mild decline. The pace of growth was the most pronounced in 2020 when exports increased by 161%. As a result, the exports reached the peak of $9.9M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

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

1. United States (40.0 units)
2. Australia (27.0 units)
3. Tonga (25.0 units)
4. Fiji (25.0 units)
5. Cook Islands (8.0 units)
6. Tuvalu (7.0 units)
7. Norfolk Island (4.0 units)
8. French Polynesia (4.0 units)
9. United Kingdom (4.0 units)

Source: IndexBox Market Intelligence Platform