Ethiopia: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Ethiopia

In 2022, the Ethiopian travelling wool rug market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Travelling wool rug consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Travelling Wool Rug Production in Ethiopia

In value terms, travelling wool rug production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 34%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Travelling Wool Rug Exports

Exports from Ethiopia

In 2022, after three years of decline, there was significant growth in overseas shipments of blankets and travelling rugs of wool, when their volume increased by 1,100% to X units. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 2,633% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling wool rug exports surged to $X in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 2,722%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for travelling wool rug exports from Ethiopia, accounting for a 61% share of total exports. Moreover, travelling wool rug exports to Canada exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was taken by Sweden (X units), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at +63.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+36.8% per year) and Sweden (+19.6% per year).

In value terms, the United States ($X) remains the key foreign market for blankets and travelling rugs of wool exports from Ethiopia, comprising 55% of total exports. The second position in the ranking was held by Canada ($X), with a 24% share of total exports. It was followed by Sweden, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +67.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+20.5% per year) and Sweden (+13.5% per year).

Export Prices by Country

In 2022, the average travelling wool rug export price amounted to $X per unit, picking up by 9.3% against the previous year. In general, the export price, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2019 an increase of 79%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Canada ($X per unit) 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 States (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into Ethiopia

Travelling wool rug imports into Ethiopia surged to X units in 2022, rising by 102% against 2021. Over the period under review, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 532% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, travelling wool rug imports skyrocketed to $X in 2022. In general, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 346% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Pakistan (X units), China (X units) and India (X units) were the main suppliers of travelling wool rug imports to Ethiopia, with a combined 92% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +81.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X) constituted the largest supplier of blankets and travelling rugs of wool to Ethiopia, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan amounted to +78.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.8% per year) and India (+14.1% per year).

Import Prices by Country

The average travelling wool rug import price stood at $X per unit in 2022, falling by -12.6% against the previous year. In general, the import price showed a slight downturn. The growth pace was the most rapid in 2019 when the average import price increased by 23%. Over the period under review, average import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a 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 the United Arab Emirates ($X per unit), while the price for Kenya ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform