ASEAN: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in ASEAN

In 2022, after two years of growth, there was significant decline in the ASEAN plaits and basketwork market, when its value decreased by -5.6% to $X. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 7.9% against the previous year. The level of consumption peaked at $X in 2021, and then declined in the following year.

Plaits And Basketwork Production in ASEAN

In value terms, plaits and basketwork production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plaits And Basketwork Exports

Exports in ASEAN

In 2022, overseas shipments of plaits, basketwork, wickerwork and similar products of plaiting materials were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 27%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, plaits and basketwork exports stood at $X in 2022. Overall, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 36% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Vietnam was the largest exporter of plaits, basketwork, wickerwork and similar products of plaiting materials in ASEAN, with the volume of exports reaching X tons, which was near 62% of total exports in 2022. Indonesia (X tons) took a 30% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (4.8%). Thailand (X tons) took a little share of total exports.

Vietnam was also the fastest-growing in terms of the plaits, basketwork, wickerwork and similar products of plaiting materials exports, with a CAGR of +3.6% from 2012 to 2022. At the same time, Indonesia (+3.6%) displayed positive paces of growth. By contrast, Thailand (-7.4%) and the Philippines (-8.8%) illustrated a downward trend over the same period. Vietnam (+8.6 p.p.) and Indonesia (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and the Philippines saw its share reduced by -2.9% and -10.1% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest plaits and basketwork supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by Indonesia ($X), with a 28% share of total exports. It was followed by the Philippines, with a 7.1% share.

In Vietnam, plaits and basketwork exports increased at an average annual rate of +9.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+8.5% per year) and the Philippines (+0.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, which is down by -6.9% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaits and basketwork export price increased by +63.5% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 25% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

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 the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.9%), while the other leaders experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports in ASEAN

In 2022, after two years of decline, there was significant growth in purchases abroad of plaits, basketwork, wickerwork and similar products of plaiting materials, when their volume increased by 10% to X tons. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 21% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, plaits and basketwork imports expanded markedly to $X in 2022. Overall, imports showed buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 40% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam dominates imports structure, reaching X tons, which was approx. 67% of total imports in 2022. It was distantly followed by Thailand (X tons), Malaysia (X tons) and Myanmar (X tons), together constituting a 24% share of total imports. Singapore (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the plaits, basketwork, wickerwork and similar products of plaiting materials imports, with a CAGR of +43.6% from 2012 to 2022. At the same time, Myanmar (+18.4%) and Thailand (+1.8%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-4.7%) and Malaysia (-12.1%) illustrated a downward trend over the same period. Vietnam (+64 p.p.) and Myanmar (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Thailand, Singapore and Malaysia saw its share reduced by -1.8%, -5.4%, -7.7% and -46.8% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported plaits, basketwork, wickerwork and similar products of plaiting materials in ASEAN, comprising 71% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9% share of total imports. It was followed by Singapore, with an 8.2% share.

In Vietnam, plaits and basketwork imports expanded at an average annual rate of +39.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+0.5% per year) and Singapore (+0.5% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 17% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform