Vietnam Tractor Imports and Exports 2021 & 2022 – Market Research Report

Vietnam’s total trade (imports + exports) of tractors stood at USD 397 million in 2022, down from USD 451.6 million registered a year earlier. According to our market research report, Vietnam’s imports of tractors are higher than its exports as the country is largely dependent on other countries, particularly China to import tractors for agricultural purposes. It is forecasted that Vietnam will see a further decline in the value of tractor imports in 2023 due to measures taken to boost local production of the commodity. Here are some crucial stats on Vietnam’s tractor imports and exports reported in 2021 and 2022.   

Monthly Trends of Vietnam’s Tractor Imports and Exports 2021 and 2022

The value of imports and exports of commodity “tractors” totalled USD 382 million and USD 15 million respectively in 2022. That dollar amount reported a decline as compared to the previous year. Vietnam’s tractor imports are more than its exports and the values of shipments fluctuated in all months of 2021 and 2022. This market research report contains monthly trends of Vietnam’s tractor imports and exports. Have a look at the data visualization of Vietnam’s trade of tractors.

Vietnam’s Imports and Exports of Tractors by Quarter

Quarterly, Vietnam recorded the highest value of tractor import shipments in Q2 and Q4 of 2021, however, the year 2022 reported fluctuated values of tractor imports. According to our market research report, Vietnam’s tractor imports stood at USD 156 million in Q2 of 2021, that dollar amount declined to USD 97 million in the same quarter of 2022. Likewise, the value of tractor imports was USD 150 million in Q4 of 2021, which fell to USD 61 million in the same quarter of 2022.

As far as exports are concerned, Vietnam reported fluctuating export values of tractors from Q1 of 2021 to Q4 of 2022. According to our market intelligence report, the highest export value of tractors was reported in Q2 of 2021 in the given period. The chart below shows Vietnam’s import and export values of tractors recorded quarterly in the last two years.

Vietnam’s Tractor Imports by Origin Country 2021 and 2022

Vietnam’s top-origin country of tractors is China, followed by South Korea and Thailand. According to our market research report, Vietnam imported tractors from China worth USD 339 million in 2021 and USD 228 million in 2022. The value of shipments from South Korea totalled USD 33 million in 2021 and USD 9 million in 2022. Thailand shipped tractors worth USD 32 million in 2021 and 20 million in 2022 to Vietnam. The chart given shows the list of Vietnam’s top 10 import partners of tractors reported in 2021 and 2022.

Vietnam’s Tractor Exports by Destination Country 2021 and 2022

Vietnam’s top export destinations of tractors are Laos and the Philippines. According to our market research report, Vietnam shipped tractors worth USD 7 million to Laos in 2021, and that dollar amount declined to USD 2 million in 2022. The tractor shipments valued at USD 5 million departed from Vietnam to the Philippines in 2021, and that dollar amount declined to USD 3 million in 2022. See and analyze Vietnam’s top 10 export destinations of tractors in 2021 and 2022.

Vietnam Tractor Imports and Exports – 2023 Forecast

Our 2023 forecast shows Vietnam is likely to see a decline in the trade of tractors as imports will fall. Exports of tractors will not see much change. According to our market research report, Vietnam’s imports of tractors are forecasted to decline to USD 276 million in 2023 as compared to USD 382 million reported in 2022 and USD 425 million recorded in 2021. Here is a look at Vietnam’s imports and exports of tractors forecasted for 2023.

Our market research report on Vietnam’s imports and exports of tractors contains essential data that is based on actual shipment records and collected from valid sources. It gives industry players and other organizations a 360-degree view of Vietnam’s tractor market and helps them to discover new business opportunities.