Egypt: Knotted Carpet Market 2024

Knotted Carpet Market Size in Egypt

For the fourth consecutive year, the Egyptian knotted carpet market recorded growth in sales value, which increased by 184% to $X in 2022. In general, consumption saw a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Knotted Carpet Production in Egypt

In value terms, knotted carpet production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Knotted Carpet Exports

Exports from Egypt

In 2022, knotted carpet exports from Egypt fell sharply to X square meters, shrinking by -41% on the previous year's figure. Overall, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 28%. Over the period under review, the exports attained the peak figure at X square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knotted carpet exports reduced markedly to $X in 2022. Over the period under review, exports faced a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X square meters) was the main destination for knotted carpet exports from Egypt, with a 48% share of total exports. Moreover, knotted carpet exports to the United States exceeded the volume sent to the second major destination, Germany (X square meters), eightfold. The third position in this ranking was taken by Canada (X square meters), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-14.2% per year) and Canada (-10.4% per year).

In value terms, the United States ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Egypt, comprising 45% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.2% share of total exports. It was followed by the UK, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-17.2% per year) and the UK (-15.5% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, dropping by -12.7% against the previous year. In general, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2019 an increase of 19% against the previous year. Over the period under review, the average export prices attained the maximum at $X per square meter in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per square meter), while the average price for exports to Canada ($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 Italy (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Egypt

In 2022, the amount of knotted carpets and other knotted textile floor coverings imported into Egypt declined dramatically to X square meters, with a decrease of -86% on the previous year. In general, imports recorded a dramatic descent. The pace of growth appeared the most rapid in 2018 with an increase of 228% against the previous year. Imports peaked at X square meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, knotted carpet imports shrank significantly to $X in 2022. Over the period under review, imports continue to indicate a significant contraction. The growth pace was the most rapid in 2018 with an increase of 116%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest supplier of knotted carpet to Egypt, accounting for a 71% share of total imports. Moreover, knotted carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, Nepal (X square meters), threefold. The United Arab Emirates (X square meters) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled -27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Nepal (+607.7% per year) and the United Arab Emirates (-3.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Egypt, comprising 76% of total imports. The second position in the ranking was taken by Nepal ($X), with a 2.3% share of total imports. It was followed by Qatar, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to -26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Nepal (+221.1% per year) and Qatar (+21.0% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, reducing by -36% against the previous year. Overall, the import price showed a pronounced contraction. The growth pace was the most rapid in 2021 an increase of 138%. As a result, import price attained the peak level of $X per square meter, and then fell markedly in the following year.

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 Qatar ($X per square meter), while the price for Nepal ($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 Turkey (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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