Latin America and the Caribbean: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in Latin America and the Caribbean

The Latin American plaits and basketwork market declined to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Plaits And Basketwork Production in Latin America and the Caribbean

In value terms, plaits and basketwork production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Plaits And Basketwork Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of plaits, basketwork, wickerwork and similar products of plaiting materials were exported in Latin America and the Caribbean; waning by -2.7% compared with 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 36%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plaits and basketwork exports contracted to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +42.4% against 2016 indices. The growth pace was the most rapid in 2013 when exports increased by 64%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mexico prevails in exports structure, accounting for X tons, which was approx. 71% of total exports in 2022. Panama (X tons) ranks second in terms of the total exports with a 5.3% share, followed by Peru (4.9%). Colombia (X tons), Guatemala (X tons), El Salvador (X tons) and Nicaragua (X tons) took a little share of total exports.

Exports from Mexico increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, El Salvador (+34.3%), Colombia (+20.8%), Nicaragua (+20.3%) and Peru (+7.2%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +34.3% from 2012-2022. Guatemala experienced a relatively flat trend pattern. By contrast, Panama (-9.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Colombia, El Salvador, Peru and Nicaragua increased by +5.8, +3.4, +2.6, +2.3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plaits and basketwork supplier in Latin America and the Caribbean, comprising 71% of total exports. The second position in the ranking was held by Colombia ($X), with a 10% share of total exports. It was followed by Peru, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at +2.9%. In the other countries, the average annual rates were as follows: Colombia (+29.6% per year) and Peru (+20.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, falling by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 an increase of 21%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+12.7%), while the other leaders experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of plaits, basketwork, wickerwork and similar products of plaiting materials increased by 3.9% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a mild contraction. The pace of growth was the most pronounced in 2021 when imports increased by 55%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plaits and basketwork imports expanded rapidly to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +97.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 81%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of plaits and basketwork imports in 2022 were Brazil (X tons), Mexico (X tons) and Chile (X tons), together accounting for 62% of total import. It was distantly followed by Argentina (X tons), mixing up an 8% share of total imports. Panama (X tons), Colombia (X tons), the Dominican Republic (X tons), Uruguay (X tons), Peru (X tons), Costa Rica (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +6.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Chile ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 64% share of total imports.

Among the main importing countries, Chile, with a CAGR of +9.5%, saw the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 4.9% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaits and basketwork import price increased by +53.2% against 2015 indices. The pace of growth appeared the most rapid in 2021 an increase of 17%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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