Vietnam: Carpet Market 2024

Carpet Market Size in Vietnam

The Vietnamese carpet market soared to $X in 2022, rising by X% against the previous year. Overall, consumption, however, continues to indicate a noticeable setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carpet Production in Vietnam

In value terms, carpet production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Carpet Exports

Exports from Vietnam

In 2022, after seven years of growth, there was decline in shipments abroad of carpets and other textile floor coverings, when their volume decreased by X% to X square meters. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X square meters in 2021, and then dropped in the following year.

In value terms, carpet exports shrank to $X in 2022. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Taiwan (Chinese) (X square meters), Lebanon (X square meters) and Tunisia (X square meters) were the main destinations of carpet exports from Vietnam, together comprising X% of total exports. Georgia, Argentina, French Polynesia, South Korea, the Philippines and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for carpets and other textile floor coverings exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Tunisia ($X), with a X% share of total exports. It was followed by Lebanon, with a X% share.

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

Export Prices by Country

The average carpet export price stood at $X per square meter in 2022, which is down by X% against the previous year. In general, the export price showed a mild downturn. 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 attained the peak figure at $X per square meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while the average price for exports to Georgia ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carpet Imports

Imports into Vietnam

In 2022, supplies from abroad of carpets and other textile floor coverings increased by X% to X square meters for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a slight descent. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X square meters. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, carpet imports stood at $X in 2022. Over the period under review, imports, however, continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of carpet to Vietnam, with a X% share of total imports. Moreover, carpet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X square meters), fivefold. The third position in this ranking was held by Thailand (X square meters), with a X% share.

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

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

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

Import Prices by Country

The average carpet import price stood at $X per square meter in 2022, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per square meter. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per square meter) and China ($X per square meter), while the price for Japan ($X per square meter) and Malaysia ($X per square meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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