The import of tractors to Belgium has shown a fluctuating trend over the past decade. In 2013, the value was high, but a significant decline was observed in the following years until it reached its lowest point in 2016. Thereafter, the trend showed a moderate recovery, with values increasing slightly from 2018 onwards. In 2023, the import value stood at 1.4509 billion USD. The annual growth rates over the past two years were 1.04% for 2023 and 1.08% for 2022. The CAGR over the past five years was relatively low at 0.3%.
Looking forward, the forecasted data up to 2028 suggests a gradual and steady increase in import values, with a projected CAGR of 0.75% from 2024 to 2028. Key factors to watch include global economic conditions, Belgium's agricultural sector performance, and technological advancements in tractor manufacturing.
