Australia and Oceania: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Australia and Oceania

The jute and jute-like fibers market in Australia and Oceania dropped modestly to $X in 2022, which is down by -4.8% against the previous year. In general, consumption, however, saw a precipitous shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Jute And Jute-Like Fibers in Australia and Oceania

In value terms, jute and jute-like fibers production shrank to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 5% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Samoa (X tons) and Australia (X tons).

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +1.2%).

Exports of Jute And Jute-Like Fibers

Exports in Australia and Oceania

In 2022, the amount of jute and jute-like fibers exported in Australia and Oceania surged to X tons, rising by 46% compared with the previous year's figure. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 83%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, jute and jute-like fibers exports totaled $X in 2022. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 68% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Australia prevails in exports structure, accounting for X tons, which was approx. 91% of total exports in 2022. It was distantly followed by New Zealand (X kg), comprising a 5.2% share of total exports. Samoa (X kg) held a little share of total exports.

Australia was also the fastest-growing in terms of the jute and jute-like fibers exports, with a CAGR of +17.4% from 2012 to 2022. At the same time, New Zealand (+10.8%) and Samoa (+9.3%) displayed positive paces of growth. From 2012 to 2022, the share of Australia increased by +7.1 percentage points.

In value terms, Australia ($X) remains the largest jute and jute-like fibers supplier in Australia and Oceania, comprising 89% of total exports. The second position in the ranking was held by New Zealand ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to +13.8%. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (+6.4% per year) and Samoa (-3.9% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, dropping by -26.2% against the previous year. In general, the export price recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 an increase of 39%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-3.1%), while the other leaders experienced a decline in the export price figures.

Imports of Jute And Jute-Like Fibers

Imports in Australia and Oceania

In 2022, after two years of decline, there was significant growth in supplies from abroad of jute and jute-like fibers, when their volume increased by 27% to X tons. Overall, imports, however, continue to indicate a precipitous slump. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports shrank remarkably to $X in 2022. In general, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) represented the main importer of jute and jute-like fibers, generating 53% of total imports. Kiribati (X tons) ranks second in terms of the total imports with a 26% share, followed by New Zealand (8.8%). Papua New Guinea (X tons), Fiji (X tons) and Samoa (X tons) followed a long way behind the leaders.

Imports into Australia decreased at an average annual rate of -28.3% from 2012 to 2022. At the same time, Kiribati (+74.7%) displayed positive paces of growth. Moreover, Kiribati emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +74.7% from 2012-2022. By contrast, Fiji (-14.3%), New Zealand (-25.1%), Papua New Guinea (-33.1%) and Samoa (-37.0%) illustrated a downward trend over the same period. While the share of Kiribati (+26 p.p.), Samoa (+2.4 p.p.) and Fiji (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Papua New Guinea (-6.9 p.p.) and Australia (-26.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest jute and jute-like fibers importing markets in Australia and Oceania were New Zealand ($X), Kiribati ($X) and Australia ($X), with a combined 68% share of total imports.

Kiribati, with a CAGR of +66.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, with a decrease of -38.7% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +9.2% 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 2013 when the import price increased by 197%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Fiji ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+22.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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