Myanmar: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Myanmar

In 2021, after two years of growth, there was significant decline in the Myanmar's agricultural and forestry tractor market, when its value decreased by -57.7% to $X. Overall, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Myanmar

Agricultural and forestry tractor exports from Myanmar surged to X units in 2021, rising by 50% compared with the previous year. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 233% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, agricultural and forestry tractor exports surged to $X in 2021. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 287%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Indonesia (X units) was the main destination for agricultural and forestry tractor exports from Myanmar, accounting for a 60% share of total exports. Moreover, agricultural and forestry tractor exports to Indonesia exceeded the volume sent to the second major destination, the Philippines (X units), twofold.

From 2013 to 2021, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+26.0% per year) and Thailand (+9.1% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for agricultural and forestry tractors exports from Myanmar, comprising 67% of total exports. The second position in the ranking was held by the Philippines ($X), with a 27% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+49.1% per year) and Thailand (+2.0% per year).

Export Prices by Country

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, jumping by 17% against the previous year. Over the period under review, export price indicated temperate growth from 2013 to 2021: its price increased at an average annual rate of +2.8% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural and forestry tractor export price increased by +36.1% against 2017 indices. The pace of growth was the most pronounced in 2014 an increase of 25% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+21.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Agricultural And Forestry Tractors

Imports into Myanmar

After two years of growth, overseas purchases of agricultural and forestry tractors decreased by -65.8% to X units in 2021. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 260% against the previous year. Imports peaked at X units in 2020, and then contracted markedly in the following year.

In value terms, agricultural and forestry tractor imports fell sharply to $X in 2021. In general, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 313% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest agricultural and forestry tractor supplier to Myanmar, with a 57% share of total imports. Moreover, agricultural and forestry tractor imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was taken by India (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+57.1% per year) and India (+2.5% per year).

In value terms, the largest agricultural and forestry tractor suppliers to Myanmar were Japan ($X), India ($X) and China ($X), together accounting for 89% of total imports.

Japan, with a CAGR of +75.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural and forestry tractor import price stood at $X per unit in 2021, growing by 68% against the previous year. In general, the import price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2015 an increase of 72% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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