Price for Tractors; (Other than Tractors of Heading No 8709) in Venezuela - 2022

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Venezuela (CIF) - 2022
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Venezuela (FOB) - 2022
3. Imports of Tractors; (Other than Tractors of Heading No 8709) in Venezuela
4. Exports of Tractors; (Other than Tractors of Heading No 8709) in Venezuela

Price for Tractors; (Other than Tractors of Heading No 8709) in Venezuela (CIF) - 2022

The average import price for tractors; (other than tractors of heading no 8709)s stood at $25,548 per unit in 2022, rising by 1.5% against the previous year. Overall, the import price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 50%. The import price peaked at $57,342 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($214,209 per unit), while the price for Iran ($3,817 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Tractors; (Other than Tractors of Heading No 8709) in Venezuela (FOB) - 2022

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $21,364 per unit, waning by -1.8% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tractors; (other than tractors of heading no 8709)s decreased by -5.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 46% against the previous year. The export price peaked at $24,907 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Bolivia ($57,681 per unit), while the average price for exports to Trinidad and Tobago ($4,247 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tractors; (Other than Tractors of Heading No 8709) in Venezuela

In 2022, purchases abroad of tractors; (other than tractors of heading no 8709)s decreased by -46.9% to 247 units, falling for the second consecutive year after two years of growth. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 525%. As a result, imports attained the peak of 688 units. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of tractors; (other than tractors of heading no 8709)s shrank rapidly to $6.3M in 2022. Overall, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 685%. As a result, imports attained the peak of $17M. From 2021 to 2022, the growth of imports of remained at a lower figure.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Venezuela in 2022:

1. Belarus (150.0 units)
2. Russia (51.0 units)
3. China (23.0 units)
4. Brazil (3.0 units)

Exports of Tractors; (Other than Tractors of Heading No 8709) in Venezuela

For the third year in a row, Venezuela recorded decline in shipments abroad of tractors; (other than tractors of heading no 8709)s, which decreased by -3.5% to 136 units in 2022. In general, exports showed a pronounced reduction. The smallest decline of -2.1% was in 2021. Over the period under review, the exports of hit record highs at 153 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tractors; (other than tractors of heading no 8709)s declined to $2.9M in 2022. Overall, exports saw a abrupt shrinkage. The smallest decline of -5.3% was in 2020. Over the period under review, the exports of reached the maximum at $3.4M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Venezuela in 2022:

1. Trinidad and Tobago (64.0 units)
2. Bolivia (29.0 units)
3. Colombia (27.0 units)
4. Aruba (6.0 units)
5. Dominican Republic (6.0 units)
6. Panama (4.0 units)

Source: IndexBox Market Intelligence Platform