Trade Trends
Global exports of tractors rose from $55.71B in 2019 to $88.91B in 2023, marking a 59.6% increase over the five-year period. This growth was followed by a decline to $71.74B in 2024.
The data reflects a strong recovery phase post-2020, likely driven by renewed investment in agricultural and industrial machinery. The peak in 2023 may have been influenced by supply chain normalization and increased demand for mechanization in emerging markets. The subsequent drop in 2024 suggests a recalibration in global procurement, possibly due to inventory adjustments or shifting capital expenditure priorities. USD$ figures highlight the cyclical nature of machinery exports and the importance of tracking year-on-year volatility.
Top Trading Countries
- Germany led tractor exports in 2024 with $10.64B, down from $14.41B in 2023 and up from $8.76B in 2019. This reflects a 64.42% increase from 2019 to 2023 and a 26.14% decrease from 2023 to 2024.
- Mexico followed with $9.91B in 2024, down from $12.47B in 2023 and up from $9.41B in 2019. This marks a 32.53% increase from 2019 to 2023 and a 20.55% decline from 2023 to 2024.
- China exported $7.37B in 2024, slightly down from $7.55B in 2023 and significantly up from $1.43B in 2019. This represents a 427.93% increase from 2019 to 2023 and a 2.42% decrease from 2023 to 2024.
- United States recorded $6.59B in 2024, down from $7.92B in 2023 and up from $6.02B in 2019. This reflects a 31.51% increase from 2019 to 2023 and a 16.74% drop from 2023 to 2024.
- Netherlands reached $6.40B in 2024, down from $8.52B in 2023 and up from $6.25B in 2019. This marks a 36.37% increase from 2019 to 2023 and a 24.84% decline from 2023 to 2024.
On the Rise
- Poland expanded from $896.59M in 2019 to $3.16B in 2023, then declined to $2.18B in 2024. This reflects a 252.95% increase from 2019 to 2023 and a 31.09% drop from 2023 to 2024.
- Spain grew from $1.17B in 2019 to $2.41B in 2023, followed by a decrease to $1.56B in 2024. This marks a 106.51% increase from 2019 to 2023 and a 35.28% decline from 2023 to 2024.
These countries show dynamic growth trajectories, indicating expanding production capabilities and export competitiveness. Their recent declines may reflect broader market adjustments rather than structural weaknesses.
Disclaimer
These insights are based on available trade data and may not represent the full market reality. Excludes tractors of the type used on railway station platforms.
