Puerto Rico: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Puerto Rico

The Puerto Rican market for forage harvesters and other harvesting machines amounted to less than $X in 2021, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Puerto Rico

Exports of forage harvesters and other harvesting machines from Puerto Rico stood at less than X units in 2021, remaining stable against 2020. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, exports of forage harvesters and other harvesting machines totaled less than $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern.

Exports by Country

In 2021, Germany (X units) was the key exporter of forage harvesters and other harvesting machines, mixing up 29% of total exports. The United States (X units) ranks second in terms of the total exports with a 12% share, followed by Brazil (9.4%), Belgium (6.5%), Italy (6.4%), France (5.8%) and the Netherlands (4.5%). Belarus (X units), Russia (X units), Poland (X units), Canada (X units), China (X units) and the UK (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to forage harvesters and other harvesting machines exports from Germany stood at +2.1%. At the same time, Poland (+18.4%), Russia (+18.2%), China (+14.4%), France (+5.9%), the UK (+4.5%), Brazil (+3.0%), Belgium (+3.0%) and Italy (+2.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.4% from 2012-2021. By contrast, the United States (-5.0%), the Netherlands (-6.4%), Canada (-6.9%) and Belarus (-7.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Germany, Russia, France, Brazil and Poland increased by +4.9, +2.4, +2.3, +2.2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest forage harvesters and other harvesting machines supplier from Puerto Rico, comprising 42% of global exports. The second position in the ranking was held by Belgium ($X), with a 7.6% share of global exports. It was followed by the United States, with a 7.4% share.

In Germany, exports of forage harvesters and other harvesting machines expanded at an average annual rate of +3.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+4.9% per year) and the United States (-10.1% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, remaining stable against the previous year. In general, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per thousand units), while Russia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.7%), while the other leaders experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Puerto Rico

In 2021, the amount of forage harvesters and other harvesting machines imported into Puerto Rico totaled less than X units, approximately equating the previous year. In general, imports showed a relatively flat trend pattern.

In value terms, imports of forage harvesters and other harvesting machines stood at less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Russia (X units) and the United States (X units) represented the key importers of forage harvesters and other harvesting machinesacross the globe, together mixing up 31% of total imports. China (X units) held a 5% share (based on physical terms) of total imports, which put it in second place, followed by France (4.8%). The following importers - the Netherlands (X units), Canada (X units), Germany (X units), Thailand (X units), the UK (X units), Australia (X units), Brazil (X units), Kazakhstan (X units) and Italy (X units) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines importing markets into Puerto Rico were the United States ($X), Russia ($X) and France ($X), with a combined 31% share of total imports. China, Canada, the UK, the Netherlands, Germany, Brazil, Italy, Australia, Thailand and Kazakhstan lagged somewhat behind, together accounting for a further 32%.

Thailand, with a CAGR of +13.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, approximately mirroring the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per thousand units), while Russia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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