Luxembourg: Plough Market 2024

Plough Exports

Exports from Luxembourg

After two years of decline, shipments abroad of ploughs for agricultural purposes increased by 805% to X units in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plough exports soared to $X in 2022. In general, exports enjoyed a significant increase. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for plough exports from Luxembourg, accounting for a 59% share of total exports. Moreover, plough exports to Belgium exceeded the volume sent to the second major destination, France (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+131.0% per year) and Germany (+22.5% per year).

In value terms, Belgium ($X) emerged as the key foreign market for ploughs for agricultural purposes exports from Luxembourg, comprising 59% of total exports. The second position in the ranking was held by France ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+125.3% per year) and Germany (+19.7% per year).

Export Prices by Country

The average plough export price stood at $X per unit in 2022, which is down by -12% against the previous year. In general, the export price recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 4.4% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Germany ($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 France (-1.9%), while the prices for the other major destinations experienced a decline.

Plough Imports

Imports into Luxembourg

For the third consecutive year, Luxembourg recorded growth in purchases abroad of ploughs for agricultural purposes, which increased by 22% to X units in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +9.8% 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 +67.6% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 151% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, plough imports totaled $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +57.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 160% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, France (X units) constituted the largest supplier of plough to Luxembourg, with a 57% share of total imports. Moreover, plough imports from France exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France amounted to +30.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and the Netherlands (+6.4% per year).

In value terms, France ($X) constituted the largest supplier of ploughs for agricultural purposes to Luxembourg, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.9% per year) and the Netherlands (+4.3% per year).

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, with a decrease of -11.3% against the previous year. Over the period under review, the import price saw a noticeable decline. The pace of growth was the most pronounced in 2018 when the average import price increased by 4.6%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per unit) and Austria ($X per unit), while the price for the Netherlands ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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