Indonesia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Indonesia

The Indonesian knotted carpet market rose markedly to $X in 2022, growing by 7.7% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Knotted Carpet Production in Indonesia

In value terms, knotted carpet production rose markedly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 36% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Knotted Carpet Exports

Exports from Indonesia

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported from Indonesia; declining by -48.1% compared with the year before. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 115%. As a result, the exports attained the peak of X square meters. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, knotted carpet exports shrank rapidly to $X in 2022. Over the period under review, exports saw a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 38% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Philippines (X square meters), Malaysia (X square meters) and Brunei Darussalam (X square meters) were the main destinations of knotted carpet exports from Indonesia, together comprising 60% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +89.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Indonesia, comprising 60% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 11% share of total exports. It was followed by Timor-Leste, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +126.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+11.2% per year) and Timor-Leste (+28.8% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, jumping by 37% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, knotted carpet export price increased by +92.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

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 Timor-Leste ($X per square meter), while the average price for exports to Nepal ($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 UK (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Indonesia

In 2022, supplies from abroad of knotted carpets and other knotted textile floor coverings increased by 15% to X square meters, rising for the second consecutive year after three years of decline. Over the period under review, imports enjoyed moderate growth. The pace of growth was the most pronounced in 2015 when imports increased by 320%. Over the period under review, imports reached the maximum at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports surged to $X in 2022. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 210% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X square meters), Singapore (X square meters) and China (X square meters) were the main suppliers of knotted carpet imports to Indonesia, together comprising 81% of total imports. Egypt, the United States and India lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +49.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and the United States ($X) constituted the largest knotted carpet suppliers to Indonesia, with a combined 71% share of total imports. Turkey, Egypt and India lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +34.3%, saw the highest growth rate of 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

In 2022, the average knotted carpet import price amounted to $X per square meter, surging by 14% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, knotted carpet import price increased by +77.1% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 45%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady 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 India ($X per square meter), while the price for Turkey ($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 Ireland (+57.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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