Pakistan: Knotted Carpet Market 2024

Knotted Carpet Market Size in Pakistan

The Pakistani knotted carpet market declined remarkably to $X in 2022, waning by -15.2% against the previous year. In general, consumption continues to indicate a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Knotted Carpet Production in Pakistan

In value terms, knotted carpet production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decline. The pace of growth appeared the most rapid in 2019 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Knotted Carpet Exports

Exports from Pakistan

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings increased by 36% to X square meters, rising for the second year in a row after seven years of decline. In general, exports, however, continue to indicate a slight decrease. The exports peaked at X square meters in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, knotted carpet exports expanded significantly to $X in 2022. Over the period under review, exports, however, showed a noticeable reduction. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X square meters) was the main destination for knotted carpet exports from Pakistan, accounting for a 57% share of total exports. Moreover, knotted carpet exports to the United States exceeded the volume sent to the second major destination, Germany (X square meters), sevenfold. The third position in this ranking was held by the UK (X square meters), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.0% per year) and the UK (-0.3% per year).

In value terms, the United States ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Pakistan, comprising 56% of total exports. The second position in the ranking was held by Germany ($X), with a 7.5% share of total exports. It was followed by Italy, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.1% per year) and Italy (-3.4% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, falling by -20.8% against the previous year. In general, the export price continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of 23% against the previous year. Over the period under review, the average export prices reached the maximum at $X per square meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per square meter) and France ($X per square meter), while the average price for exports to Germany ($X per square meter) and the UK ($X per square meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (-0.1%), while the prices for the other major destinations experienced a decline.

Knotted Carpet Imports

Imports into Pakistan

In 2022, supplies from abroad of knotted carpets and other knotted textile floor coverings increased by 2.5% to X square meters, rising for the fourth year in a row after four years of decline. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 36%. Imports peaked at X square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, knotted carpet imports contracted notably to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 80%. Imports peaked at $X in 2021, and then dropped sharply in the following year.

Imports by Country

Afghanistan (X square meters), Iran (X square meters) and the United States (X square meters) were the main suppliers of knotted carpet imports to Pakistan, with a combined 94% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +11.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest knotted carpet suppliers to Pakistan were Afghanistan ($X), Iran ($X) and the United States ($X), together comprising 94% of total imports.

Among the main suppliers, Afghanistan, with a CAGR of +15.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, declining by -21.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2020 an increase of 50%. The import price peaked at $X per square meter in 2021, and then declined markedly in the following year.

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 Afghanistan ($X per square meter), while the price for China ($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 Afghanistan (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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