Estonia: Woven Carpet Market 2024

Woven Carpet Market Size in Estonia

The Estonian woven carpet market dropped significantly to $X in 2022, which is down by -23.5% against the previous year. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +38.3% against 2018 indices. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Woven Carpet Production in Estonia

In value terms, woven carpet production shrank dramatically to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 23% against the previous year. Woven carpet production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Woven Carpet Exports

Exports from Estonia

In 2022, approx. X square meters of woven carpets and other woven textile coverings were exported from Estonia; increasing by 4.7% on the previous year's figure. In general, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.0% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 56%. The exports peaked at X square meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, woven carpet exports dropped slightly to $X in 2022. Over the period under review, exports showed a temperate expansion. The growth pace was the most rapid in 2016 when exports increased by 62% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X square meters) was the main destination for woven carpet exports from Estonia, accounting for a 49% share of total exports. Moreover, woven carpet exports to Finland exceeded the volume sent to the second major destination, Lithuania (X square meters), threefold. Germany (X square meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+60.1% per year) and Germany (+4.3% per year).

In value terms, Finland ($X) remains the key foreign market for woven carpets and other woven textile coverings exports from Estonia, comprising 47% of total exports. The second position in the ranking was taken by Lithuania ($X), with an 18% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Finland stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+62.6% per year) and Germany (+5.0% per year).

Export Prices by Country

In 2022, the average woven carpet export price amounted to $X per square meter, with a decrease of -7.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per square meter), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Woven Carpet Imports

Imports into Estonia

In 2022, supplies from abroad of woven carpets and other woven textile coverings decreased by -11.8% to X square meters for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.3% against 2014 indices. The pace of growth was the most pronounced in 2014 when imports increased by 37%. Imports peaked at X square meters in 2021, and then shrank in the following year.

In value terms, woven carpet imports shrank to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.6% against 2014 indices. The growth pace was the most rapid in 2021 with an increase of 28%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Denmark (X square meters), Turkey (X square meters) and India (X square meters) were the main suppliers of woven carpet imports to Estonia, together accounting for 52% of total imports. Egypt, Belgium, Belarus, Serbia, Latvia, Ukraine, China, the Netherlands, Bangladesh and Poland lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +63.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet suppliers to Estonia were Denmark ($X), Turkey ($X) and India ($X), together accounting for 49% of total imports. Belgium, Egypt, Serbia, the Netherlands, Poland, Belarus, Latvia, China, Ukraine and Bangladesh lagged somewhat behind, together comprising a further 44%.

Among the main suppliers, Latvia, with a CAGR of +65.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average woven carpet import price amounted to $X per square meter, shrinking by -1.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 3.7%. Over the period under review, average import prices reached the peak figure at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Poland ($X per square meter), while the price for Bangladesh ($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 Egypt (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform