Uruguay: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Uruguay

In 2021, the Uruguayan market for forage harvesters and other harvesting machines was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Uruguay

In 2021, exports of forage harvesters and other harvesting machines from Uruguay stood at X units, leveling off at 2020 figures. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 500% against the previous year. Over the period under review, the exports of hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. In general, exports recorded a resilient expansion. Over the period under review, the exports of attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Argentina (X units) and Spain (X units) were the main destinations of exports of forage harvesters and other harvesting machines from Uruguay.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of 0.0%).

In value terms, Venezuela ($X) remains the key foreign market for forage harvesters and other harvesting machines exports from Uruguay, comprising 94% of total exports. The second position in the ranking was held by Argentina ($X), with a 5.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-10.3% per year) and Spain (0.0% per year).

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, declining by -43.8% against the previous year. Overall, the export price, however, showed a modest increase. The pace of growth appeared the most rapid in 2018 an increase of 101% against the previous year. The export price peaked at $X per unit in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Spain ($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 Venezuela (+16.8%).

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Uruguay

After two years of decline, overseas purchases of forage harvesters and other harvesting machines increased by 263% to X units in 2021. Overall, imports, however, recorded a deep slump. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. Over the period under review, imports, however, saw a deep setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest forage harvesters and other harvesting machines supplier to Uruguay, with a 24% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Germany exceeded the figures recorded by the second-largest supplier, Poland (X units), threefold. The third position in this ranking was held by Argentina (X units), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+47.6% per year) and Argentina (-9.7% per year).

In value terms, Germany ($X) constituted the largest supplier of forage harvesters and other harvesting machines to Uruguay, comprising 33% of total imports. The second position in the ranking was held by Belgium ($X), with a 7.1% share of total imports. It was followed by Spain, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.3% per year) and Spain (+18.0% per year).

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, declining by -8.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 6.2% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 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 Spain ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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