Bolivia: Woven Carpet Market 2024

Woven Carpet Market Size in Bolivia

The Bolivian woven carpet market shrank to $X in 2022, falling by -12.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Woven Carpet Exports

Exports from Bolivia

After two years of decline, overseas shipments of woven carpets and other woven textile coverings increased by 333% to X square meters in 2022. In general, exports, however, showed a slight reduction. The growth pace was the most rapid in 2015 when exports increased by 2,905%. As a result, the exports reached the peak of X square meters. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, woven carpet exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 995%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X square meters) was the main destination for woven carpet exports from Bolivia, accounting for a 92% share of total exports. Moreover, woven carpet exports to Colombia exceeded the volume sent to the second major destination, the United States (X square meters), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia was relatively modest.

In value terms, Colombia ($X) emerged as the key foreign market for woven carpets and other woven textile coverings exports from Bolivia, comprising 90% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia was relatively modest.

Export Prices by Country

The average woven carpet export price stood at $X per square meter in 2022, falling by -35.4% against the previous year. Over the period under review, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 193%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Colombia stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.7%).

Woven Carpet Imports

Imports into Bolivia

In 2022, approx. X square meters of woven carpets and other woven textile coverings were imported into Bolivia; with a decrease of -29.5% compared with the previous year's figure. Overall, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 55% against the previous year. Over the period under review, imports attained the peak figure at X square meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, woven carpet imports stood at $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 49% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of woven carpet to Bolivia, with a 36% share of total imports. Moreover, woven carpet imports from China exceeded the figures recorded by the second-largest supplier, India (X square meters), twofold. Egypt (X square meters) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.2% per year) and Egypt (+19.1% per year).

In value terms, China ($X), India ($X) and Brazil ($X) appeared to be the largest woven carpet suppliers to Bolivia, with a combined 62% share of total imports. Egypt, Belgium, Turkey and the United States lagged somewhat behind, together accounting for a further 38%.

Turkey, with a CAGR of +36.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average woven carpet import price stood at $X per square meter in 2022, with an increase of 46% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, woven carpet import price increased by +84.2% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform