Vietnam: Agricultural Forestry Machinery Market 2025

Agricultural Forestry Machinery Market Size in Vietnam

The Vietnamese agricultural forestry machinery market skyrocketed to $X in 2022, picking up by 17% against the previous year. In general, consumption enjoyed buoyant growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Agricultural Forestry Machinery Production in Vietnam

In value terms, agricultural forestry machinery production surged to $X in 2022 estimated in export price. Overall, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 102%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Agricultural Forestry Machinery Exports

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in shipments abroad of agricultural forestry machinery (lawn or sportsground rollers), when their volume decreased by -13.5% to X units. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 583%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, agricultural forestry machinery exports declined to $X in 2022. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 610% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X units), the United States (X units) and Lao People's Democratic Republic (X units) were the main destinations of agricultural forestry machinery exports from Vietnam, with a combined 96% share of total exports. These countries were followed by Malaysia, which accounted for a further 3.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), the United States ($X) and Lao People's Democratic Republic ($X) were the largest markets for agricultural forestry machinery exported from Vietnam worldwide, together accounting for 96% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +163.9%, recorded 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 2022, the average agricultural forestry machinery export price amounted to $X per unit, increasing by 6.3% against the previous year. In general, the export price, however, showed a deep slump. The growth pace was the most rapid in 2020 an increase of 13%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per unit) and the United States ($X per unit), while the average price for exports to the Philippines ($X per unit) and Lao People's Democratic Republic ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Vietnam

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were imported into Vietnam; with a decrease of -10.9% on the year before. Overall, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 91% against the previous year. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, agricultural forestry machinery imports shrank to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by 76% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), Japan (X units) and China (X units) were the main suppliers of agricultural forestry machinery imports to Vietnam, together comprising 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural forestry machinery suppliers to Vietnam were the United States ($X), Japan ($X) and China ($X), together comprising 87% of total imports.

In terms of the main suppliers, China, with a CAGR of +43.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 8.1% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per unit) and Japan ($X per unit), while the price for China ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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