Latvia - Tractors - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTractor Price in Latvia - 2023
Contents:
- Tractor Price in Latvia (CIF) - 2022
- Tractor Price in Latvia (FOB) - 2022
- Tractor Imports in Latvia
- Tractor Exports in Latvia
Tractor Price in Latvia (CIF) - 2022
In 2022, the average tractor import price amounted to $58,411 per unit, declining by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $59,752 per unit, and then dropped slightly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($92,207 per unit), while the price for Japan ($1,903 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Tractor Price in Latvia (FOB) - 2022
The average tractor export price stood at $42,041 per unit in 2022, waning by -11% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 33% against the previous year. Over the period under review, the average export prices reached the maximum at $52,317 per unit in 2014; however, from 2015 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 Sweden ($103,083 per unit), while the average price for exports to Azerbaijan ($6,305 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 Tajikistan (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.
Tractor Imports in Latvia
In 2022, imports of tractors into Latvia expanded slightly to 3.4K units, increasing by 2.5% against 2021 figures. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +11.3% 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 +53.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.
In value terms, tractor imports amounted to $197M in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +12.0% 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 +86.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 86% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
Import of Tractor in Latvia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 22.7 | 16.5 | 36.0 | 39.1 | 19.9% |
Germany | 12.9 | 11.6 | 31.3 | 35.9 | 40.7% |
Sweden | 34.9 | 22.9 | 34.7 | 29.3 | -5.7% |
Finland | 15.0 | 6.8 | 10.8 | 19.5 | 9.1% |
France | 12.5 | 12.5 | 22.3 | 19.4 | 15.8% |
Italy | 11.9 | 11.4 | 16.1 | 18.6 | 16.1% |
Belgium | 17.8 | 10.1 | 15.8 | 12.6 | -10.9% |
Estonia | 4.0 | 3.4 | 8.1 | 8.5 | 28.6% |
Netherlands | 2.8 | 5.1 | 5.3 | 4.7 | 18.8% |
India | 0.2 | 0.3 | 0.8 | 1.3 | 86.6% |
Others | 5.8 | 5.4 | 15.7 | 8.4 | 13.1% |
Total | 141 | 106 | 197 | 197 | 11.8% |
Top Suppliers of Tractor to Latvia in 2022:
- Lithuania (751.0 units)
- Germany (408.0 units)
- Sweden (337.0 units)
- Italy (316.0 units)
- France (271.0 units)
- India (233.0 units)
- Finland (211.0 units)
- Belgium (180.0 units)
- Netherlands (149.0 units)
- Estonia (147.0 units)
Tractor Exports in Latvia
Tractor exports from Latvia dropped to 840 units in 2022, with a decrease of -5.4% against 2021 figures. The total export volume increased at an average annual rate of +2.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 33%. As a result, the exports attained the peak of 888 units, and then fell in the following year.
In value terms, tractor exports declined sharply to $35M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +8.5% 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 +48.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 76%. As a result, the exports reached the peak of $42M, and then reduced rapidly in the following year.
Export of Tractor in Latvia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Sweden | 10.0 | 4.9 | 12.9 | 9.9 | -0.3% |
Lithuania | 5.0 | 6.1 | 9.4 | 7.6 | 15.0% |
Russia | 1.4 | 1.4 | 2.2 | 5.3 | 55.9% |
Poland | 1.6 | 0.5 | 4.4 | 3.9 | 34.6% |
Germany | 0.6 | 1.3 | 1.5 | 1.5 | 35.7% |
Netherlands | 0.5 | 0.6 | 0.6 | 1.2 | 33.9% |
Estonia | 2.0 | 1.5 | 1.3 | 1.2 | -15.7% |
Kazakhstan | 0.9 | 2.8 | 1.3 | 1.2 | 10.1% |
Belgium | 0.1 | 0.3 | 1.3 | 1.0 | 115.4% |
Ukraine | 1.2 | 0.2 | 0.4 | 0.5 | -25.3% |
Georgia | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
Azerbaijan | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
Tajikistan | 0.1 | N/A | 0.2 | 0.1 | 0.0% |
Others | 3.9 | 3.9 | 6.3 | 1.6 | -25.7% |
Total | 27.6 | 23.8 | 41.9 | 35.3 | 8.5% |
Top Export Markets for Tractor from Latvia in 2022:
- Russia (182.0 units)
- Lithuania (140.0 units)
- Sweden (96.0 units)
- Poland (91.0 units)
- Kazakhstan (68.0 units)
- Netherlands (41.0 units)
- Germany (38.0 units)
- Ukraine (24.0 units)
- Estonia (24.0 units)
- Belgium (22.0 units)
- Tajikistan (16.0 units)
- Azerbaijan (15.0 units)
- Georgia (15.0 units)
This report provides an in-depth analysis of the tractor market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28301000 - Pedestrian-controlled tractors
- Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
- Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
- Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms
- Prodcom 28925000 - (Crawler tractors) Track-laying tractors
- Prodcom 29104300 - Road tractors for semi-trailers
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the tractor market in Latvia.
This report provides an in-depth analysis of the market for road tractor for semi-trailer in Latvia.
This report provides an in-depth analysis of the crawler tractor market in Latvia.
This report provides an in-depth analysis of the pedestrian-controlled tractor market in Latvia.
This report provides an in-depth analysis of the market for agricultural and forestry tractor in Latvia.
This report provides an in-depth analysis of the global tractor market.
This report provides an in-depth analysis of the global market for road tractor for semi-trailer.
This report provides an in-depth analysis of the global crawler tractor market.
This report provides an in-depth analysis of the global pedestrian-controlled tractor market.
This report provides an in-depth analysis of the global market for agricultural and forestry tractor.
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In 2016, approx. X tons of tractor were imported worldwide- shrinking by -X% against the previous year figure. Overall, tractor imports continue to indicate a relatively flat trend pattern. The...
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