Price of Chinese Hand-Knotted Carpets Drops 11% to $9.4/sqm

China Knotted Carpet Export Price in June 2023

In June 2023, the knotted carpet price stood at $9.4 per square meter (FOB, China), reducing by -11.3% against the previous month. Overall, the export price continues to indicate a mild slump. The growth pace was the most rapid in December 2022 when the average export price increased by 42% against the previous month. As a result, the export price attained the peak level of $12,080 per thousand square meters. From January 2023 to June 2023, the the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In June 2023, the country with the highest price was the United States ($9.0 per square meter), while the average price for exports to Malaysia ($6.9 per square meter) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-2.1%), while the prices for the other major destinations experienced a decline.

China Knotted Carpet Export Prices by Type

Average prices varied noticeably for the major types of exported product. In June 2023, the product with the highest price was carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up ($9.8 per square meter), while the average price for exports of carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up stood at $8.9 per square meter.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for the following types: carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up (-0.2%).

China Knotted Carpet Exports

After two months of decline, shipments abroad of knotted carpets and other knotted textile floor coverings increased by 12% to 751K square meters in June 2023. Overall, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in March 2023 with an increase of 374% month-to-month. As a result, the exports attained the peak of 1.9M square meters. From April 2023 to June 2023, the growth of the exports failed to regain momentum.

In value terms, knotted carpet exports dropped slightly to $7.1M (IndexBox estimates) in June 2023. Over the period under review, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in March 2023 when exports increased by 210% m-o-m. As a result, the exports reached the peak of $14M. From April 2023 to June 2023, the growth of the exports failed to regain momentum.

China Knotted Carpet Exports by Type

Carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up (489K square meters) and carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up (262K square meters) were the main products of knotted carpet exports from China.

From June 2022 to June 2023, the biggest increases were in carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up (with a CAGR of +6.3%).

In value terms, carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up ($4.8M) remains the largest type of knotted carpet exported from China, comprising 67% of total exports. The second position in the ranking was taken by carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up ($2.3M), with a 33% share of total exports.

From June 2022 to June 2023, the average monthly growth rate of the export volume of carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up totaled -4.9%.

China Knotted Carpet Exports by Country

Singapore (156K square meters), the United States (148K square meters) and Malaysia (102K square meters) were the main destinations of knotted carpet exports from China, together accounting for 54% of total exports. Vietnam, Australia, the UK, Kazakhstan, Mexico, South Korea, France, Iraq, Japan and Brazil lagged somewhat behind, together comprising a further 28%.

From June 2022 to June 2023, the biggest increases were in France (with a CAGR of +23.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for knotted carpet exported from China were Singapore ($1.3M), the United States ($1.3M) and Malaysia ($709K), with a combined 48% share of total exports. Australia, Japan, the UK, Kazakhstan, South Korea, Vietnam, France, Brazil, Iraq and Mexico lagged somewhat behind, together comprising a further 24%.

France, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform