Southern Asia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Southern Asia

The South Asian knotted carpet market dropped to $X in 2022, waning by -6.2% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Knotted Carpet Production in Southern Asia

In value terms, knotted carpet production shrank to $X in 2022 estimated in export price. In general, production showed a mild decline. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Knotted Carpet Exports

Exports in Southern Asia

Knotted carpet exports expanded remarkably to X square meters in 2022, picking up by 8.2% compared with the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. As a result, the exports reached the peak of X square meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, knotted carpet exports rose slightly to $X in 2022. Overall, exports, however, continue to indicate a mild slump. The growth pace was the most rapid in 2013 when exports increased by 16%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India was the main exporting country with an export of around X square meters, which finished at 59% of total exports. Pakistan (X square meters) held the second position in the ranking, distantly followed by Afghanistan (X square meters) and Nepal (X square meters). All these countries together held approx. 41% share of total exports.

India experienced a relatively flat trend pattern with regard to volume of exports of knotted carpets and other knotted textile floor coverings. At the same time, Afghanistan (+7.8%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +7.8% from 2012-2022. By contrast, Pakistan (-1.8%) and Nepal (-5.5%) illustrated a downward trend over the same period. While the share of India (+3.7 p.p.) and Afghanistan (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nepal (-3.4 p.p.) and Pakistan (-3.5 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest knotted carpet supplier in Southern Asia, comprising 66% of total exports. The second position in the ranking was held by Pakistan ($X), with a 17% share of total exports. It was followed by Nepal, with a 13% share.

In India, knotted carpet exports decreased by an average annual rate of -1.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (-3.9% per year) and Nepal (-0.4% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per square meter in 2022, declining by -4.4% against the previous year. In general, the export price showed a mild downturn. The most prominent rate of growth was recorded in 2014 an increase of 13% against the previous year. The level of export 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nepal ($X per square meter), while Pakistan ($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 Nepal (+5.3%), while the other leaders experienced a decline in the export price figures.

Knotted Carpet Imports

Imports in Southern Asia

In 2022, overseas purchases of knotted carpets and other knotted textile floor coverings increased by 35% to X square meters, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2017 with an increase of 115%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, knotted carpet imports soared to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 84%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Pakistan (X square meters) and India (X square meters) were the main importers of knotted carpets and other knotted textile floor coverings in 2022, recording near 38% and 37% of total imports, respectively. It was distantly followed by Nepal (X square meters), generating a 22% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +14.5%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings in Southern Asia, comprising 67% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India amounted to +21.5%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+0.9% per year) and Nepal (+5.7% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per square meter, surging by 31% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per square meter), while Nepal ($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 India (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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