Data from the United States Census Bureau shows that the Port of Baltimore — currently closed after a ship collided with and collapsed the Francis Scott Key Bridge on March 26 — is an important hub for 50-100 horsepower tractor imports. This could translate to a slowdown in the importation of utility tractors to the U.S., resulting in longer lead times for dealers and delayed deliveries.
In 2023, U.S. customs valued total imports of 50-100 horsepower tractors brought through the Port of Baltimore at $199.1 million, roughly 16% of all 50-100 horsepower tractor imports that year. This value was down 28.1% year-over-year from $276.9 million but as a percentage of total imports in this horsepower range, was up from 15.4% in 2022.
Imports for the first 2 months of 2024 were valued at $31 million, 17% of total U.S. imports of 50-100 horsepower tractors.
An April 4 press release from the U.S. Army Corps of Engineers stated the port would be fully open by the end of May, with limited access for barges (including those bringing in farm equipment) to begin by the end of April.
Imports of 50-100 horsepower tractors through April and May since 2017 have averaged $28.2 million, with April-May 2023 imports coming in at $41.8 million or 18% of total 50-100 horsepower imports in that period.
For ongoing updates on the Port of Baltimore closure, click here.
