Price for Tractors; (Other than Tractors of Heading No 8709) in Pakistan - 2023
Contents:
- Price for Tractors; (Other than Tractors of Heading No 8709) in Pakistan (CIF) - 2022
- Price for Tractors; (Other than Tractors of Heading No 8709) in Pakistan (FOB) - 2023
- Imports of Tractors; (Other than Tractors of Heading No 8709) in Pakistan
- Exports of Tractors; (Other than Tractors of Heading No 8709) in Pakistan
Price for Tractors; (Other than Tractors of Heading No 8709) in Pakistan (CIF) - 2022
The average import price for tractors; (other than tractors of heading no 8709)s stood at $6,548 per unit in 2022, reducing by -16.3% against the previous year. Over the period under review, the import price, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 an increase of 87% against the previous year. The import price peaked at $7,827 per unit in 2021, and then fell rapidly in the following year.
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 Thailand ($20,325 per unit), while the price for China ($3,891 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+42.0%), 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 Pakistan (FOB) - 2023
The average export price for tractors; (other than tractors of heading no 8709)s stood at $7,924 per unit in July 2023, dropping by -21.8% against the previous month. Over the period under review, the export price recorded a perceptible decrease. The pace of growth appeared the most rapid in April 2023 an increase of 43% m-o-m. Over the period under review, the average export prices reached the maximum at $11,579 per unit in August 2022; afterwards, it flattened through to July 2023.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Kuwait ($18,911 per unit), while the average price for exports to Kenya ($961 per unit) was amongst the lowest.
From August 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+6.6%), 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 Pakistan
Imports of tractors; (other than tractors of heading no 8709)s into Pakistan contracted sharply to 8.2K units in 2022, shrinking by -37.2% compared with the year before. Overall, imports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. Imports peaked at 20K 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 declined sharply to $54M in 2022. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 107% against the previous year. As a result, imports attained the peak of $103M, and then contracted rapidly in the following year.
| Import of Tractors; (Other than Tractors of Heading No 8709) in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 17.2 | 18.6 | 34.2 | 34.9 | 26.6% |
| Belarus | 17.6 | 14.7 | 41.9 | 9.6 | -18.3% |
| China | 18.1 | 12.4 | 20.4 | 4.8 | -35.8% |
| Thailand | 1.6 | 2.1 | 4.2 | 2.5 | 16.0% |
| Others | 4.4 | 2.0 | 1.9 | 2.1 | -21.9% |
| Total | 58.8 | 49.7 | 103 | 53.9 | -2.9% |
Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Pakistan in 2022:
- Japan (5.5K units)
- China (1.2K units)
- Belarus (1.0K units)
- Thailand (0.1K units)
Exports of Tractors; (Other than Tractors of Heading No 8709) in Pakistan
In 2022, overseas shipments of tractors; (other than tractors of heading no 8709)s decreased by -38.2% to 5K units, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 42%. As a result, the exports attained the peak of 9.2K units. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of tractors; (other than tractors of heading no 8709)s dropped remarkably to $35M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.7% 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 +31.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40%. As a result, the exports attained the peak of $48M, and then fell dramatically in the following year.
| Export of Tractors; (Other than Tractors of Heading No 8709) in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Angola | 0.1 | 2.0 | 8.6 | 6.9 | 310.2% |
| Afghanistan | 3.1 | 7.6 | 6.2 | 5.0 | 17.3% |
| Nigeria | 3.4 | 1.5 | 2.8 | 3.3 | -1.0% |
| Tanzania | 1.1 | 0.9 | 2.7 | 2.6 | 33.2% |
| Botswana | 3.9 | 4.9 | 4.6 | 2.5 | -13.8% |
| United Arab Emirates | 0.7 | 1.8 | 2.9 | 2.3 | 48.7% |
| Kenya | 2.7 | 4.0 | 3.5 | 2.0 | -9.5% |
| Ghana | 0.7 | 0.7 | 1.7 | 1.0 | 12.6% |
| South Africa | 0.7 | 2.0 | 3.4 | 1.0 | 12.6% |
| Sudan | 0.2 | 0.2 | 1.3 | 0.5 | 35.7% |
| Mozambique | N/A | 0.2 | 0.5 | 0.5 | 58.1% |
| Sri Lanka | 0.3 | 0.4 | 0.3 | 0.3 | 0.0% |
| Ireland | N/A | N/A | 0.2 | 0.2 | 0.0% |
| Others | 9.7 | 7.9 | 9.1 | 7.1 | -9.9% |
| Total | 26.7 | 34.0 | 47.6 | 35.2 | 9.7% |
Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Pakistan in 2022:
- Angola (840.0 units)
- Afghanistan (832.0 units)
- Kenya (370.0 units)
- Nigeria (348.0 units)
- Botswana (337.0 units)
- United Arab Emirates (284.0 units)
- Ghana (226.0 units)
- Tanzania (214.0 units)
- Ireland (172.0 units)
- South Africa (135.0 units)
- Sudan (131.0 units)
- Sri Lanka (129.0 units)
- Mozambique (100.0 units)
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