Bolivia: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Bolivia

For the third year in a row, the Bolivian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles recorded growth in sales value, which increased by 137% to $X in 2022. Overall, consumption showed resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Bolivia

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were exported from Bolivia; waning by -99.5% compared with the previous year. In general, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 19,200%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles plummeted to $X in 2022. Overall, exports continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 13,605% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Bolivia, accounting for a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to the United States totaled -41.6%.

In value terms, the United States ($X) emerged as the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Bolivia.

From 2013 to 2022, the average annual growth rate of value to the United States totaled -48.5%.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, dropping by -50.8% against the previous year. In general, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 19%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2013 to 2022, the rate of growth in terms of prices for the United States amounted to -11.8% per year.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Bolivia

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into Bolivia skyrocketed to X units, jumping by 190% on 2021. Overall, imports enjoyed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022. Over the period under review, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to Bolivia, with a 75% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+21.0% per year) and Chile (-45.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Bolivia, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.1% per year) and Chile (-47.7% per year).

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -55.2% against the previous year. Overall, the import price faced a abrupt shrinkage. The growth pace was the most rapid in 2019 when the average import price increased by 46% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform