Paraguay: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Paraguay

In 2022, the Paraguayan market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 47% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded strong growth. Consumption of peaked in 2022 and is expected to retain growth in years to come.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Paraguay

Exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Paraguay skyrocketed to X units in 2022, picking up by 128% compared with 2021 figures. Over the period under review, exports posted a modest expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 36,525%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2019 when exports increased by 17,350% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Paraguay, with a 93% share of total exports. It was followed by Bolivia (X units), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at +1.3%.

In value terms, Brazil ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Paraguay, comprising 92% of total exports. The second position in the ranking was taken by Bolivia ($X), with a 4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Brazil stood at -7.1%.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, stabilizing at the previous year. Overall, the export price showed a abrupt downturn. The pace of growth was the most pronounced in 2021 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Brazil amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+11.2%).

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Paraguay

Imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles into Paraguay surged to X units in 2022, increasing by 42% compared with 2021. Overall, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by 45%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. Over the period under review, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X units), China (X units) and Argentina (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Paraguay, together accounting for 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +32.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Paraguay, comprising 49% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.4% per year) and India (+23.8% per year).

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, picking up by 5.9% against the previous year. Overall, the import price, however, continues to indicate a perceptible decline. The growth pace was the most rapid in 2020 when the average import price increased by 24% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 India ($X per unit), while the price for Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform