Vietnam: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Vietnam

The Vietnamese agricultural and forestry tractor market was finally on the rise to reach $X in 2021, after five years of decline. Over the period under review, consumption, however, showed a abrupt slump. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Vietnam

After two years of growth, shipments abroad of agricultural and forestry tractors decreased by -14.4% to X units in 2021. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 251% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural and forestry tractor exports dropped to $X in 2021. Over the period under review, exports saw a mild setback. The most prominent rate of growth was recorded in 2017 when exports increased by 123% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X units), the Netherlands (X units) and the United States (X units) were the main destinations of agricultural and forestry tractor exports from Vietnam, with a combined 59% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +70.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural and forestry tractor exported from Vietnam were the Philippines ($X), the Netherlands ($X) and the United States ($X), together comprising 55% of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +61.0%, saw the highest growth rate of 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

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, picking up by 13% against the previous year. Over the period under review, the export price, however, showed a deep reduction. Over the period under review, the average export prices attained the peak figure 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 foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Italy ($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 Cambodia (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Agricultural And Forestry Tractors

Imports into Vietnam

In 2021, supplies from abroad of agricultural and forestry tractors increased by 20% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports saw a mild increase. The pace of growth was the most pronounced in 2015 with an increase of 91%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, agricultural and forestry tractor imports reached $X in 2021. Overall, imports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 111%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X units) constituted the largest supplier of agricultural and forestry tractor to Vietnam, accounting for a 71% share of total imports. Moreover, agricultural and forestry tractor imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand stood at +71.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.3% per year) and Germany (+23.7% per year).

In value terms, Thailand ($X) constituted the largest supplier of agricultural and forestry tractors to Vietnam, comprising 53% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +157.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.9% per year) and Japan (-11.9% per year).

Import Prices by Country

In 2021, the average agricultural and forestry tractor import price amounted to $X per unit, with a decrease of -12.3% against the previous year. Overall, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 10%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

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 ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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