Portugal: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Portugal

The Portuguese agricultural forestry machinery market surged to $X in 2022, rising by 36% against the previous year. Over the period under review, consumption continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Agricultural Forestry Machinery Production in Portugal

In value terms, agricultural forestry machinery production skyrocketed to $X in 2022 estimated in export price. In general, production saw a modest increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 412% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Agricultural Forestry Machinery Exports

Exports from Portugal

In 2022, agricultural forestry machinery exports from Portugal fell to X units, waning by -4.4% against the previous year. Over the period under review, exports saw a noticeable contraction. The growth pace was the most rapid in 2013 with an increase of 32%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, agricultural forestry machinery exports rose rapidly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 65% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X units), France (X units) and Angola (X units) were the main destinations of agricultural forestry machinery exports from Portugal, together comprising 82% of total exports. These countries were followed by Brazil, Mozambique, the UK and Chile, which together accounted for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +65.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural forestry machinery exported from Portugal were Spain ($X), France ($X) and Angola ($X), with a combined 81% share of total exports. These countries were followed by Chile, Brazil, the UK and Mozambique, which together accounted for a further 10%.

In terms of the main countries of destination, Brazil, with a CAGR of +74.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average agricultural forestry machinery export price stood at $X per unit in 2022, picking up by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2018 an increase of 29% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Mozambique ($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 (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Portugal

Agricultural forestry machinery imports into Portugal shrank to X units in 2022, waning by -12.8% compared with the year before. Over the period under review, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2018 when imports increased by 108% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, agricultural forestry machinery imports reduced to $X in 2022. In general, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 92% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Spain (X units) constituted the largest agricultural forestry machinery supplier to Portugal, with a 43% share of total imports. Moreover, agricultural forestry machinery imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. Italy (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+16.9% per year) and Italy (-0.7% per year).

In value terms, Spain ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Portugal, comprising 47% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.6% per year) and Germany (+22.9% per year).

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, 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 Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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