Slovakia: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Slovakia

The Slovak agricultural appliance market expanded rapidly to $X in 2021, surging by 12% against the previous year. In general, consumption posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Agricultural Appliance Production in Slovakia

In value terms, agricultural appliance production stood at $X in 2021 estimated in export price. Over the period under review, production showed a deep slump. The pace of growth was the most pronounced in 2015 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Agricultural Appliance Exports

Exports from Slovakia

In 2021, the amount of agricultural appliances exported from Slovakia skyrocketed to X units, with an increase of 20% on 2020 figures. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 538% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, agricultural appliance exports dropped modestly to $X in 2021. Over the period under review, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 when exports increased by 52%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Austria (X units) was the main destination for agricultural appliance exports from Slovakia, accounting for a 95% share of total exports. Moreover, agricultural appliance exports to Austria exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Austria stood at +37.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-19.8% per year) and Hungary (-28.4% per year).

In value terms, Austria ($X) remains the key foreign market for agricultural appliances exports from Slovakia, comprising 78% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Austria amounted to +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-14.0% per year) and Hungary (-18.5% per year).

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, shrinking by -18.8% against the previous year. Over the period under review, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 604%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+13.8%), while the prices for the other major destinations experienced mixed trend patterns.

Agricultural Appliance Imports

Imports into Slovakia

In 2021, overseas purchases of agricultural appliances increased by 30% to X units, rising for the fifth consecutive year after three years of decline. Over the period under review, imports saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 850%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, agricultural appliance imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild decrease. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Austria (X units) constituted the largest supplier of agricultural appliance to Slovakia, with a 88% share of total imports. Moreover, agricultural appliance imports from Austria exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Austria totaled +295.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+59.7% per year) and Germany (+35.8% per year).

In value terms, Austria ($X) constituted the largest supplier of agricultural appliances to Slovakia, comprising 51% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 20% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Austria stood at +133.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+25.0% per year) and Germany (+10.7% per year).

Import Prices by Country

In 2021, the average agricultural appliance import price amounted to $X per unit, picking up by 32% against the previous year. Overall, the import price, however, showed a dramatic slump. The growth pace was the most rapid in 2015 when the average import price increased by 102%. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-11.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform