Argentina: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Argentina

The Argentinian agricultural forestry machinery market stood at $X in 2022, surging by 4.5% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Argentina

In value terms, agricultural forestry machinery production expanded modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.5% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by 37% against the previous year. Agricultural forestry machinery production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Agricultural Forestry Machinery Exports

Exports from Argentina

In 2022, shipments abroad of agricultural forestry machinery (lawn or sportsground rollers) increased by 7.3% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 90% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, agricultural forestry machinery exports rose slightly to $X in 2022. Overall, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 172% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X units) was the main destination for agricultural forestry machinery exports from Argentina, with a 62% share of total exports. Moreover, agricultural forestry machinery exports to Venezuela exceeded the volume sent to the second major destination, the United States (X units), fivefold. Angola (X units) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.5% per year) and Angola (-1.2% per year).

In value terms, Venezuela ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Argentina, comprising 43% of total exports. The second position in the ranking was held by the United States ($X), with a 20% share of total exports. It was followed by Angola, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Venezuela amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.4% per year) and Angola (+20.0% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, falling by -4.8% against the previous year. In general, the export price, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 81%. The export price peaked at $X per unit in 2021, and then fell modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to Venezuela ($X 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 Angola (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Argentina

In 2022, agricultural forestry machinery imports into Argentina dropped to X units, waning by -9.4% against 2021 figures. In general, imports, however, showed a mild increase. The most prominent rate of growth was recorded in 2017 when imports increased by 112%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, agricultural forestry machinery imports dropped to $X in 2022. Over the period under review, imports, however, posted notable growth. The growth pace was the most rapid in 2017 with an increase of 122% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X units), China (X units) and the United States (X units) were the main suppliers of agricultural forestry machinery imports to Argentina, together comprising 63% of total imports. Canada, Mexico, Sweden and Finland lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +15.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), the United States ($X) and China ($X) appeared to be the largest agricultural forestry machinery suppliers to Argentina, together comprising 41% of total imports.

China, with a CAGR of +6.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, rising by 8.5% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, agricultural forestry machinery import price decreased by -23.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 80%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Finland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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