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

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Thailand (FOB) - 2022
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Thailand (CIF) - 2024
3. Exports of Tractors; (Other than Tractors of Heading No 8709) in Thailand
4. Imports of Tractors; (Other than Tractors of Heading No 8709) in Thailand

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

The average export price for tractors; (other than tractors of heading no 8709)s stood at $3,679 per unit in 2022, falling by -35.1% against the previous year. In general, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 6.2%. Over the period under review, the average export prices hit record highs at $37,614 per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($7,686 per unit), while the average price for exports to Lao People's Democratic Republic ($1,465 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 Myanmar (-17.0%), while the prices for the other major destinations experienced a decline.

Price for Tractors; (Other than Tractors of Heading No 8709) in Thailand (CIF) - 2024

The average import price for tractors; (other than tractors of heading no 8709)s stood at $12,415 per unit in January 2024, approximately reflecting the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when the average import price increased by 35% against the previous month. The import price peaked at $18,173 per unit in April 2023; afterwards, it flattened through to January 2024.

Prices varied noticeably by the country of origin: the country with the highest price was China ($18,264 per unit), while the price for Indonesia ($8,627 per unit) was amongst the lowest.

From February 2023 to January 2024, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

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

For the fourth year in a row, Thailand recorded growth in overseas shipments of tractors; (other than tractors of heading no 8709)s, which increased by 27% to 98K units in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 85%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of tractors; (other than tractors of heading no 8709)s plummeted to $361M in 2022. The total export value increased at an average annual rate of +1.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 26%. As a result, the exports attained the peak of $438M, and then declined sharply in the following year.

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

1. Cambodia (34.4K units)
2. Lao People's Democratic Republic (33.7K units)
3. India (7.0K units)
4. United States (6.3K units)
5. Philippines (3.7K units)
6. Vietnam (3.6K units)
7. Myanmar (2.1K units)

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

In 2022, the amount of tractors; (other than tractors of heading no 8709)s imported into Thailand skyrocketed to 33K units, jumping by 51% against the year before. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 90%. 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 rose notably to $302M in 2022. Overall, imports showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 96% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

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

1. China (12.7K units)
2. Japan (10.1K units)
3. India (7.1K units)
4. United Kingdom (1.2K units)
5. Indonesia (0.7K units)

Source: IndexBox Market Intelligence Platform