The import of agricultural, horticultural, or forestry machinery to Vietnam showed fluctuating trends from 2013 to 2023. In 2013, imports stood at 5.5574 million USD, followed by dramatic increases, especially in 2015 and 2016, peaking at 20.153 million USD in 2016. However, there was a significant drop in 2017, with moderate recovery in subsequent years. By 2023, the value reached 17.102 million USD. The year-on-year variations showed high growth peaks and some declines, while the CAGR over the last five years (2018-2023) was 3.07%.
Forecasts indicate a steady growth rate with imports expected to reach 19.273 million USD by 2028, showing a forecasted 5-year CAGR of 1.89% and an overall growth rate of 9.8% from 2024 to 2028.
Future trends to watch include technological advancements in agricultural machinery, shifts in Vietnam's agricultural policies, and potential impacts of global economic conditions on import dynamics. Sustainable and precision farming technologies are likely to drive future demand.
