The import of Agricultural, Horticultural or Forestry Machinery to the UK has experienced fluctuations over the past decade, with a notable decrease in 2015 and 2016, followed by a recovery from 2017 onward. By 2023, the value stood at $319.54 million.
From 2020 to 2023, the imports showed steady growth, maintaining an average year-on-year increase of approximately 1.17%. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged around 0.8%.
Looking to the future, the forecast predicts a continued but modest growth trend with a five-year CAGR of 0.82%, indicating a stable increase in imports through to 2028, reaching an estimated value of $336.47 million by then.
Future trends to watch for include the impact of technological advancements in machinery, shifts in agricultural practices, and potential changes in trade policies post-Brexit which could influence import volumes and values.
