Peru: Knotted Carpet Market 2024

Knotted Carpet Market Size in Peru

The Peruvian knotted carpet market expanded sharply to $X in 2022, with an increase of 10% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Knotted Carpet Production in Peru

In value terms, knotted carpet production rose notably to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Knotted Carpet Exports

Exports from Peru

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported from Peru; falling by -14.2% on the previous year. Over the period under review, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 197% against the previous year. As a result, the exports reached the peak of X square meters. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, knotted carpet exports reduced sharply to $X in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 52% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of 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 Peru, accounting for a 66% share of total exports. Moreover, knotted carpet exports to the United States exceeded the volume sent to the second major destination, Australia (X square meters), eightfold. The third position in this ranking was taken by Chile (X square meters), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-16.6% per year) and Chile (-3.3% per year).

In value terms, the United States ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Peru, comprising 70% of total exports. The second position in the ranking was taken by Chile ($X), with a 4.1% share of total exports. It was followed by Spain, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-0.7% per year) and Spain (-2.6% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, reducing by -1.8% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, knotted carpet export price increased by +109.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 80% against the previous year. The export price peaked at $X per square meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per square meter), while the average price for exports to Australia ($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 Italy (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Peru

In 2022, purchases abroad of knotted carpets and other knotted textile floor coverings was finally on the rise to reach X square meters after three years of decline. In general, imports, however, recorded a mild contraction. The pace of growth was the most pronounced in 2015 with an increase of 313% against the previous year. Imports peaked at X square meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 130%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Egypt (X square meters) constituted the largest supplier of knotted carpet to Peru, accounting for a 85% share of total imports. Moreover, knotted carpet imports from Egypt exceeded the figures recorded by the second-largest supplier, Chile (X square meters), more than tenfold. The third position in this ranking was held by India (X square meters), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+41.4% per year) and India (-12.5% per year).

In value terms, the largest knotted carpet suppliers to Peru were Egypt ($X), Chile ($X) and India ($X), together accounting for 42% of total imports.

Chile, with a CAGR of +30.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average knotted carpet import price stood at $X per square meter in 2022, waning by -37% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by 97% against the previous year. Over the period under review, average import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Germany ($X per square meter), while the price for Egypt ($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 Germany (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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