Iran: Plough Market 2024

Plough Market Size in Iran

The Iranian plough market totaled $X in 2022, picking up by 4.7% against the previous year. Overall, consumption saw a notable expansion. Plough consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plough Production in Iran

In value terms, plough production rose sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Plough Exports

Exports from Iran

In 2022, plough exports from Iran skyrocketed to X units, growing by 32% compared with the year before. In general, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2015 when exports increased by 3,994% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plough exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 2,972%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Afghanistan (X units) was the main destination for plough exports from Iran, accounting for a 73% share of total exports. Moreover, plough exports to Afghanistan exceeded the volume sent to the second major destination, Turkmenistan (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Afghanistan stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+43.1% per year) and Tajikistan (+14.9% per year).

In value terms, Afghanistan ($X) remains the key foreign market for ploughs for agricultural purposes exports from Iran, comprising 61% of total exports. The second position in the ranking was taken by Turkmenistan ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Afghanistan stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+54.6% per year) and Tajikistan (+45.6% per year).

Export Prices by Country

In 2022, the average plough export price amounted to $X per unit, dropping by -11.1% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plough export price increased by +88.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43% against the previous year. The export price peaked at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tajikistan ($X per unit), while the average price for exports to Afghanistan ($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 Tajikistan (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plough Imports

Imports into Iran

Plough imports into Iran was estimated at X units in 2022, increasing by 5.4% against the previous year. In general, imports saw buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 161% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, plough imports stood at $X in 2022. Over the period under review, imports saw moderate growth. The pace of growth appeared the most rapid in 2017 with an increase of 141%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest plough supplier to Iran, with a 70% share of total imports. Moreover, plough imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Sweden (X units), eightfold. The third position in this ranking was held by China (X units), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+34.9% per year) and China (+11.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ploughs for agricultural purposes to Iran, comprising 51% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by Sweden, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.6% per year) and Sweden (+22.8% per year).

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, declining by -4.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2015 an increase of 16% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Italy ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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