Uruguay: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Uruguay

The Uruguayan travelling wool rug market contracted modestly to $X in 2022, dropping by -3.4% against the previous year. Over the period under review, consumption showed a mild decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Travelling Wool Rug Production in Uruguay

In value terms, travelling wool rug production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 23% against the previous year. Travelling wool rug production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Travelling Wool Rug Exports

Exports from Uruguay

In 2022, after three years of growth, there was significant decline in overseas shipments of blankets and travelling rugs of wool, when their volume decreased by -66.5% to X units. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 334% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling wool rug exports reduced markedly to $X in 2022. Over the period under review, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 375%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for travelling wool rug exports from Uruguay, with a 89% share of total exports. Moreover, travelling wool rug exports to the United States exceeded the volume sent to the second major destination, Italy (X units), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-25.6% per year) and Brazil (-15.7% per year).

In value terms, the United States ($X), Italy ($X) and Brazil ($X) constituted the largest markets for travelling wool rug exported from Uruguay worldwide, together accounting for 99.9% of total exports.

Italy, with a CAGR of +12.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average travelling wool rug export price amounted to $X per unit, surging by 18% against the previous year. Overall, the export price continues to indicate a prominent expansion. The growth pace was the most rapid in 2014 an increase of 88%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Italy ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+50.6%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into Uruguay

In 2022, purchases abroad of blankets and travelling rugs of wool increased by 88% to X units, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 356%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, travelling wool rug imports soared to $X in 2022. Overall, imports saw a prominent expansion. The pace of growth was the most pronounced in 2016 when imports increased by 258% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X units), China (X units) and India (X units) were the main suppliers of travelling wool rug imports to Uruguay, with a combined 81% 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 Brazil (with a CAGR of +89.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of blankets and travelling rugs of wool to Uruguay, comprising 31% of total imports. The second position in the ranking was taken by Peru ($X), with a 14% share of total imports. It was followed by Ireland, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to +59.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+9.8% per year) and Ireland (0.0% per year).

Import Prices by Country

In 2022, the average travelling wool rug import price amounted to $X per unit, with a decrease of -24.2% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per unit 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 Peru ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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