Uruguay: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Uruguay

The Uruguayan agricultural and forestry tractor market soared to $X in 2021, picking up by 147% against 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). Over the period under review, consumption, however, showed a slight decline. Agricultural and forestry tractor consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Uruguay

For the third consecutive year, Uruguay recorded decline in shipments abroad of agricultural and forestry tractors, which decreased by -15.4% to X units in 2021. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2014 when exports increased by 900% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural and forestry tractor exports declined remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,109% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X units) was the main destination for agricultural and forestry tractor exports from Uruguay, accounting for a 82% share of total exports. Moreover, agricultural and forestry tractor exports to Brazil exceeded the volume sent to the second major destination, Argentina (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Brazil stood at +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-33.1% per year) and Paraguay (0.0% per year).

In value terms, Brazil ($X) emerged as the key foreign market for agricultural and forestry tractors exports from Uruguay, comprising 59% of total exports. The second position in the ranking was held by Argentina ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+11.9% per year) and Paraguay (+9.0% per year).

Export Prices by Country

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, dropping by -13.4% against the previous year. Over the period under review, the export price, however, recorded a prominent expansion. The growth pace was the most rapid in 2018 an increase of 38% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to Brazil ($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 Bolivia (+50.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Agricultural And Forestry Tractors

Imports into Uruguay

In 2021, the amount of agricultural and forestry tractors imported into Uruguay surged to X units, growing by 192% on the previous year. In general, imports, however, recorded a perceptible slump. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, agricultural and forestry tractor imports surged to $X in 2021. Overall, imports, however, recorded a mild descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), Brazil (X units) and Mexico (X units) were the main suppliers of agricultural and forestry tractor imports to Uruguay, with a combined 74% share of total imports. China, Vietnam, Turkey, Japan, the UK, Poland, the United States, France and South Korea lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +41.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of agricultural and forestry tractors to Uruguay, comprising 54% of total imports. The second position in the ranking was held by Mexico ($X), with a 12% share of total imports. It was followed by India, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.4% per year) and India (+9.8% per year).

Import Prices by Country

The average agricultural and forestry tractor import price stood at $X per unit in 2021, reducing by -21.1% against the previous year. Over the period under review, the import price, however, recorded a slight expansion. The growth pace was the most rapid in 2014 when the average import price increased by 29%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+32.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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