Colombia: Tufted Carpet Market 2024

Tufted Carpet Market Size in Colombia

The Colombian tufted carpet market reduced to $X in 2022, dropping by -7.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a mild setback. Tufted carpet consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Tufted Carpet Exports

Exports from Colombia

After two years of decline, shipments abroad of tufted carpets and other tufted textile floor coverings increased by 96% to X square meters in 2022. Overall, exports, however, recorded a deep setback. The exports peaked at X square meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, tufted carpet exports surged to $X in 2022. Over the period under review, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X square meters) was the main destination for tufted carpet exports from Colombia, accounting for a 76% share of total exports. Moreover, tufted carpet exports to Ecuador exceeded the volume sent to the second major destination, Panama (X square meters), sixfold. The third position in this ranking was held by Honduras (X square meters), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador totaled -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-0.8% per year) and Honduras (+34.4% per year).

In value terms, Ecuador ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Colombia, comprising 62% of total exports. The second position in the ranking was taken by Panama ($X), with a 21% share of total exports. It was followed by Peru, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador amounted to -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+7.2% per year) and Peru (+3.8% per year).

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, which is down by -36.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 79%. Over the period under review, the average export prices attained the maximum at $X per square meter in 2021, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Honduras ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

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Tufted Carpet Imports

Imports into Colombia

In 2022, approx. X square meters of tufted carpets and other tufted textile floor coverings were imported into Colombia; declining by -9% compared with the year before. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 26% against the previous year. Imports peaked at X square meters in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted carpet imports declined to $X in 2022. Over the period under review, imports showed a noticeable setback. The growth pace was the most rapid in 2021 with an increase of 16%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of tufted carpet to Colombia, accounting for a 60% share of total imports. Moreover, tufted carpet imports from China exceeded the figures recorded by the second-largest supplier, the United States (X square meters), fivefold. The third position in this ranking was taken by the Netherlands (X square meters), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.9% per year) and the Netherlands (+6.7% per year).

In value terms, China ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Colombia, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.7% per year) and the Netherlands (+5.7% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, rising by 2.3% against the previous year. Overall, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by 32% against the previous year. The import price peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Egypt ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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