Argentina: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Argentina

The Argentinian hay-making machinery market rose notably to $X in 2021, with an increase of 8.2% against the previous year. Over the period under review, consumption, however, showed a slight setback. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Hay-Making Machinery Production in Argentina

In value terms, hay-making machinery production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight reduction. The growth pace was the most rapid in 2019 with an increase of 17% against the previous year. Hay-making machinery production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Hay-Making Machinery Exports

Exports from Argentina

In 2021, exports of hay-making machinery from Argentina surged to X units, increasing by 81% compared with the previous year. Over the period under review, exports posted a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 243% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, hay-making machinery exports surged to $X in 2021. Overall, exports showed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 240%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Paraguay (X units) was the main destination for hay-making machinery exports from Argentina, accounting for a 53% share of total exports. Moreover, hay-making machinery exports to Paraguay exceeded the volume sent to the second major destination, Nicaragua (X units), fourfold. The third position in this ranking was taken by Uruguay (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Paraguay stood at +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+10.7% per year) and Uruguay (-2.4% per year).

In value terms, Paraguay ($X) emerged as the key foreign market for hay-making machinery exports from Argentina, comprising 44% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 20% share of total exports. It was followed by Nicaragua, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Paraguay totaled +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+26.4% per year) and Nicaragua (+12.1% per year).

Export Prices by Country

In 2021, the average hay-making machinery export price amounted to $X per unit, falling by -9.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Argentina

In 2021, purchases abroad of hay-making machinery increased by 117% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 178%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, hay-making machinery imports soared to $X in 2021. Over the period under review, imports showed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 159% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest hay-making machinery supplier to Argentina, accounting for a 66% share of total imports. Moreover, hay-making machinery imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. India (X units) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +30.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.9% per year) and India (+8.0% per year).

In value terms, Germany ($X) constituted the largest supplier of hay-making machinery to Argentina, comprising 71% of total imports. The second position in the ranking was held by Italy ($X), with a 20% share of total imports. It was followed by France, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.8% per year) and France (+15.4% per year).

Import Prices by Country

In 2021, the average hay-making machinery import price amounted to $X per unit, rising by 4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2020 an increase of 49% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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