Between 2013 and 2023, the import of tractors to Chile has shown significant fluctuations. Starting at 461.62 million USD in 2013, it experienced a significant decline by 2016 before rebounding strongly in 2017 and peaking at 497.8 million USD in 2018. Another notable low occurred in 2019, followed by a gradual trend upwards through 2023.
The year-on-year variation for the last two years indicates a modest increase of 1.06% in 2022 and 1.02% in 2023. The compound annual growth rate (CAGR) over the last five years averages -4.45%, suggesting overall contraction. However, the forecasted CAGR from 2024 to 2028 is projected to be 0.77%, signaling a stabilization and slight growth in imports, culminating in an estimated value of 415.62 million USD in 2028.
Future Trends to Watch For:
- Introduction of new agricultural policies and subsidies in Chile which could boost demand for tractors.
- Global supply chain shifts that may affect the availability and price of tractors.
- Technological advancements in tractor efficiency and capabilities that could drive market growth.
