Guatemala: Flax Fabric Market 2024

Flax Fabric Market Size in Guatemala

In 2022, after ten years of growth, there was significant decline in the Guatemalan flax fabric market, when its value decreased by -24.4% to $X. Over the period under review, consumption, however, posted a tangible expansion. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Flax Fabric Production in Guatemala

In value terms, flax fabric production surged to $X in 2022 estimated in export price. Overall, production, however, showed a deep contraction. Flax fabric production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Flax Fabric Exports

Exports from Guatemala

In 2022, approx. X kg of woven fabrics of flax were exported from Guatemala; increasing by 100% compared with 2021. Over the period under review, exports, however, continue to indicate a abrupt decline. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, flax fabric exports skyrocketed to $X in 2022. Overall, exports, however, saw a precipitous contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X kg), the United States (X kg) and El Salvador (X kg) were the main destinations of flax fabric exports from Guatemala, with a combined 67% share of total exports. Moreover, flax fabric exports in Italy exceeded the figures recorded by the second-largest exporter, the United States, twofold.

From 2020 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) emerged as the key foreign market for woven fabrics of flax exports from Guatemala, comprising 49% of total exports. The second position in the ranking was held by the United States ($X), with a 1.7% share of total exports.

From 2020 to 2022, the average annual growth rate of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-88.6% per year) and El Salvador (0.0% per year).

Export Prices by Country

In 2022, the average flax fabric export price amounted to $X per ton, declining by -24% against the previous year. In general, export price indicated a strong increase from 2020 to 2022: its price increased at an average annual rate of +5.4% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flax fabric export price increased by +11.1% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 46%. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-74.5%).

Flax Fabric Imports

Imports into Guatemala

In 2022, supplies from abroad of woven fabrics of flax decreased by -68.6% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, imports faced a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 121% against the previous year. As a result, imports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, flax fabric imports declined sharply to $X in 2022. Overall, imports recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 651% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest flax fabric supplier to Guatemala, with a 88% share of total imports. Moreover, flax fabric imports from South Korea exceeded the figures recorded by the second-largest supplier, Spain (X kg), more than tenfold. China (X kg) ranked third in terms of total imports with a 2% share.

From 2020 to 2022, the average annual rate of growth in terms of volume from South Korea amounted to -54.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+475.1% per year) and China (+138.3% per year).

In value terms, South Korea ($X) constituted the largest supplier of woven fabrics of flax to Guatemala, comprising 72% of total imports. The second position in the ranking was held by Spain ($X), with a 15% share of total imports. It was followed by China, with a 3.9% share.

From 2020 to 2022, the average annual growth rate of value from South Korea totaled -64.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+227.0% per year) and China (+108.5% per year).

Import Prices by Country

In 2022, the average flax fabric import price amounted to $X per ton, declining by -16.5% against the previous year. In general, the import price showed a deep setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 0.9%. As a result, import price attained the peak level of $X per ton, and then fell remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+60.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform