Uzbekistan: Tractor Market 2024

Tractor Market Size in Uzbekistan

The Uzbek tractor market surged to $X in 2022, picking up by 28% against the previous year. Over the period under review, consumption saw resilient growth. Tractor consumption peaked in 2022 and is expected to retain growth in years to come.

Tractor Production in Uzbekistan

In value terms, tractor production fell to $X in 2022 estimated in export price. In general, production, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Tractor Exports

Exports from Uzbekistan

In 2022, the amount of tractors exported from Uzbekistan surged to X units, with an increase of 62% compared with the year before. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 832%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, tractor exports skyrocketed to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 957%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for tractor exports from Uzbekistan, with a 24% share of total exports. Moreover, tractor exports to Georgia exceeded the volume sent to the second major destination, Azerbaijan (X units), twofold. Russia (X units) ranked third in terms of total exports with a 7.8% share.

From 2017 to 2022, the average annual growth rate of volume to Georgia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (0.0% per year) and Russia (+32.0% per year).

In value terms, Russia ($X), Georgia ($X) and Azerbaijan ($X) constituted the largest markets for tractor exported from Uzbekistan worldwide, together accounting for 48% of total exports.

Among the main countries of destination, Russia, with a CAGR of +49.2%, saw the highest rates of growth with regard to 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 tractor export price stood at $X per unit in 2022, with an increase of 14% against the previous year. In general, the export price, however, showed a perceptible descent. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Kyrgyzstan ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+70.9%), while the prices for the other major destinations experienced mixed trend patterns.

Tractor Imports

Imports into Uzbekistan

Tractor imports into Uzbekistan soared to X units in 2022, jumping by 100% against the previous year's figure. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 171% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tractor imports skyrocketed to $X in 2022. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 350% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Georgia (X units), Belarus (X units) and China (X units) were the main suppliers of tractor imports to Uzbekistan, together comprising 48% of total imports.

From 2017 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +697.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Georgia ($X) constituted the largest supplier of tractors to Uzbekistan, comprising 33% of total imports. The second position in the ranking was taken by Belarus ($X), with an 11% share of total imports. It was followed by China, with a 1.9% share.

From 2017 to 2022, the average annual growth rate of value from Georgia totaled +953.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+66.8% per year) and China (+11.0% per year).

Import Prices by Country

The average tractor import price stood at $X per unit in 2022, shrinking by -3.5% against the previous year. In general, import price indicated a prominent increase from 2017 to 2022: its price increased at an average annual rate of +10.3% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tractor import price decreased by -16.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 66% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Georgia (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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