Puerto Rico: Market for Nets of Twine, Cordage, Rope or Textile Materials 2022

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in Puerto Rico

In 2021, the Puerto Rican market for nets of twine, cordage, rope or textile materials increased by 21% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.2% against 2018 indices. Puerto Rico consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Nets of Twine, Cordage, Rope or Textile Materials in Puerto Rico

In value terms, twine, cordage or textile net production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.2% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 79% against the previous year. Puerto Rico production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports by Country

China dominates exports structure, finishing at X tons, which was near 52% of total exports in 2021. It was distantly followed by Vietnam (X tons), achieving a 7.2% share of total exports. Thailand (X tons), Japan (X tons), India (X tons), Spain (X tons), Greece (X tons), South Korea (X tons), Malaysia (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

Exports from China increased at an average annual rate of +8.5% from 2012 to 2021. At the same time, Malaysia (+12.5%), India (+8.8%), Germany (+8.7%), Spain (+6.3%), Vietnam (+6.0%), Greece (+5.0%), Thailand (+3.3%) and Japan (+2.7%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.5% from 2012-2021. By contrast, South Korea (-3.0%) and Taiwan (Chinese) (-3.4%) illustrated a downward trend over the same period. While the share of China (+9.1 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Taiwan (Chinese) (-1.5 p.p.) and South Korea (-2.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine, cordage or textile net supplier from Puerto Rico, comprising 42% of global exports. The second position in the ranking was held by Vietnam ($X), with a 5.8% share of global exports. It was followed by Thailand, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+3.1% per year) and Thailand (+1.4% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%), while the other leaders experienced more modest paces of growth.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports by Country

In 2021, Japan (X tons) and South Korea (X tons) were the largest importers of nets of twine, cordage, rope or textile materialsacross the globe, together generating 16% of total imports. It was followed by Malaysia (X tons), constituting a 4.6% share of total imports. Indonesia (X tons), Germany (X tons), France (X tons), the Netherlands (X tons), Spain (X tons), the United States (X tons), Norway (X tons), Vietnam (X tons), India (X tons) and Italy (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +21.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest twine, cordage or textile net importing markets into Puerto Rico were Japan ($X), South Korea ($X) and Germany ($X), with a combined 18% share of total imports. Norway, France, Malaysia, the United States, Vietnam, the Netherlands, Indonesia, Italy, Spain and India lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, the Netherlands, with a CAGR of +13.7%, recorded the highest growth rate of 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

The import price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. In general, the import price recorded a relatively flat trend pattern.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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