Egypt: Tractor Market 2024

Tractor Market Size in Egypt

In 2022, the Egyptian tractor market decreased by -21.8% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Tractor Production in Egypt

In value terms, tractor production dropped to $X in 2022 estimated in export price. Overall, production saw a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the production volume increased by 32%. Tractor production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Tractor Exports

Exports from Egypt

In 2022, tractor exports from Egypt fell dramatically to X units, which is down by -35.7% compared with 2021 figures. In general, exports, however, posted a measured increase. The pace of growth appeared the most rapid in 2021 when exports increased by 250%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, tractor exports declined sharply to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 608% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Sudan (X units) was the main destination for tractor exports from Egypt, accounting for a 44% share of total exports. Moreover, tractor exports to Sudan exceeded the volume sent to the second major destination, Iraq (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Sudan totaled +3.8%.

In value terms, Sudan ($X) remains the key foreign market for tractors exports from Egypt, comprising 45% of total exports. The second position in the ranking was taken by Iraq ($X), with a 4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sudan totaled +14.5%.

Export Prices by Country

In 2022, the average tractor export price amounted to $X per unit, shrinking by -10.9% against the previous year. Over the period under review, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2021 an increase of 102% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sudan ($X per unit), while the average price for exports to Iraq stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+14.0%).

Tractor Imports

Imports into Egypt

In 2022, overseas purchases of tractors decreased by -26.3% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports showed a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 58%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, tractor imports fell rapidly to $X in 2022. In general, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 with an increase of 119% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), China (X units) and Japan (X units) were the main suppliers of tractor imports to Egypt, with a combined 31% share of total imports. These countries were followed by Greece, Belarus, Poland, South Korea, France, Thailand, Romania, the United States, Italy and Spain, which together accounted for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of tractors to Egypt, comprising 31% of total imports. The second position in the ranking was held by Thailand ($X), with a 5.3% share of total imports. It was followed by China, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+14.6% per year) and China (-6.5% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, rising by 9% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tractor import price increased by +7.3% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 84% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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