The import of hay-making machinery to Denmark showed significant annual fluctuations between 2013 and 2023. The year 2013 marked a sharp decline of 54.04%, followed by a robust recovery in 2014 with a 154.22% increase. Subsequent years experienced mixed trends with notable declines in 2016 and 2017, and minor growth periods in intervening years. In 2020, imports dropped 27.6% with further contraction in 2021 by 6.7%. However, there was a rebound in 2022 and 2023 with annual increases of 34.7% and 6.5%, respectively. By 2023, the import volume stood at 4.31 thousand items. On a longer-term perspective, the last five-year CAGR indicates a modest growth of 2%.
Forecast trends from 2024 to 2028 project consistent but modest growth in imports, with a forecasted 5-year CAGR of 0.47% and an overall growth rate of 2.35% by 2028, reaching 4.44 thousand items by the end of the period. This suggests a stabilization in import volumes, barring any significant market disruptions.
Future trends to watch for include:
- Technological advancements in hay-making machinery that could impact import needs.
- Agricultural policy changes within Denmark and the EU that might influence machinery imports.
- Economic conditions influencing farmers' purchasing power and investment capabilities.
