Sri Lanka: Woven Carpet Market 2024

Woven Carpet Market Size in Sri Lanka

The Sri Lankan woven carpet market rose significantly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Woven Carpet Production in Sri Lanka

In value terms, woven carpet production rose to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Woven Carpet Exports

Exports from Sri Lanka

In 2022, the amount of woven carpets and other woven textile coverings exported from Sri Lanka declined notably to X square meters, shrinking by X% against the previous year. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X square meters. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, woven carpet exports declined sharply to $X in 2022. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X square meters), Australia (X square meters) and the UK (X square meters) were the main destinations of woven carpet exports from Sri Lanka, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for woven carpets and other woven textile coverings exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average woven carpet export price amounted to $X per square meter, surging by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

Woven Carpet Imports

Imports into Sri Lanka

After four years of decline, purchases abroad of woven carpets and other woven textile coverings increased by X% to X square meters in 2022. In general, imports saw a strong expansion. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, woven carpet imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X square meters) constituted the largest supplier of woven carpet to Sri Lanka, accounting for a X% share of total imports. Moreover, woven carpet imports from India exceeded the figures recorded by the second-largest supplier, China (X square meters), twofold. Thailand (X square meters) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

In value terms, India ($X) constituted the largest supplier of woven carpets and other woven textile coverings to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average woven carpet import price amounted to $X per square meter, shrinking by X% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of X% 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for China ($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 Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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