Croatia: Tractor Market 2024

Tractor Market Size in Croatia

The Croatian tractor market shrank modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Tractor consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Tractor Production in Croatia

In value terms, tractor production shrank to $X in 2022 estimated in export price. Overall, production showed a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 96% against the previous year. Tractor production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tractor Exports

Exports from Croatia

In 2022, the amount of tractors exported from Croatia expanded rapidly to X units, picking up by 15% on 2021. Overall, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.5% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, tractor exports fell to $X in 2022. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for tractor exports from Croatia, accounting for a 20% share of total exports. Moreover, tractor exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Serbia (X units), threefold. The third position in this ranking was taken by Slovenia (X units), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+13.1% per year) and Slovenia (+19.4% per year).

In value terms, Bosnia and Herzegovina ($X), Slovenia ($X) and Serbia ($X) constituted the largest markets for tractor exported from Croatia worldwide, with a combined 25% share of total exports. North Macedonia, Finland, the Netherlands, Austria, Bulgaria, Germany, Hungary, Romania, Montenegro and Afghanistan lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Finland, with a CAGR of +143.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tractor export price stood at $X per unit in 2022, dropping by -17.4% against the previous year. In general, the export price, however, posted a remarkable increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 32% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while the average price for exports to Afghanistan ($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 Bulgaria (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tractor Imports

Imports into Croatia

In 2022, approx. X units of tractors were imported into Croatia; rising by 4.4% against the year before. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor imports stood at $X in 2022. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 34%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Slovenia (X units) constituted the largest supplier of tractor to Croatia, with a 15% share of total imports. Moreover, tractor imports from Slovenia exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was held by Italy (X units), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Slovenia totaled +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.6% per year) and Italy (+5.7% per year).

In value terms, the largest tractor suppliers to Croatia were Slovenia ($X), Italy ($X) and Germany ($X), with a combined 24% share of total imports. These countries were followed by France, Austria, the Netherlands, Romania, the Czech Republic and Japan, which together accounted for a further 17%.

Among the main suppliers, Romania, with a CAGR of +140.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, surging by 4.3% against the previous year. In general, the import price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood 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 the Netherlands ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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