Latin America and the Caribbean: Woolen Fabric Market 2022

Woolen Fabric Market Size in Latin America and the Caribbean

For the ninth consecutive year, the Latin American woolen fabric market recorded decline in sales value, which decreased by -1% to $X in 2021. Overall, consumption, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2016 with a decrease of -0.5%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Woolen Fabric Production in Latin America and the Caribbean

In value terms, woolen fabric production stood at $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Woolen Fabric Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of woven woolen fabrics decreased by -6.3% to X square meters, falling for the second year in a row after two years of growth. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 8.5% against the previous year. Over the period under review, the exports reached the maximum at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, woolen fabric exports fell to $X in 2021. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of 17% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico represented the main exporting country with an export of around X square meters, which reached 66% of total exports. Chile (X square meters) ranks second in terms of the total exports with a 13% share, followed by Brazil (4.6%) and Peru (9.5%). Guatemala (X square meters), Uruguay (X square meters), Brazil (X square meters) and the Dominican Republic (X square meters) held a relatively small share of total exports.

Exports from Mexico decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, the Dominican Republic (+21.6%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +21.6% from 2012-2021. By contrast, Chile (-2.3%), Brazil (-4.6%), Guatemala (-8.3%), Peru (-10.1%) and Uruguay (-28.8%) illustrated a downward trend over the same period. While the share of Mexico (+8.5 p.p.), Chile (+4.5 p.p.) and the Dominican Republic (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Peru (-3.8 p.p.) and Uruguay (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Chile ($X) and Peru ($X) were the countries with the highest levels of exports in 2021, with a combined 94% share of total exports. These countries were followed by Brazil, Guatemala, the Dominican Republic and Uruguay, which together accounted for a further 5.7%.

In terms of the main exporting countries, the Dominican Republic, with a CAGR of +11.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2021, dropping by -2.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 9.6%. As a result, the export price reached the peak level of $X per square meter. From 2016 to 2021, the the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per square meter), while the Dominican Republic ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+12.2%), while the other leaders experienced more modest paces of growth.

Woolen Fabric Imports

Imports in Latin America and the Caribbean

For the ninth year in a row, LatAmerica and the Caribbean recorded decline in overseas purchases of woven woolen fabrics, which decreased by -4.7% to X square meters in 2021. Over the period under review, imports faced a abrupt setback. The smallest decline of -0.5% was in 2018. The volume of import peaked at X square meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, woolen fabric imports contracted markedly to $X in 2021. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 0.6% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of woven woolen fabrics, namely Guatemala, Mexico and the Dominican Republic, represented more than half of total import. Argentina (X square meters) held a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by Mexico (14%), Brazil (2.1%), Colombia (3.1%), Haiti (6.5%), the Dominican Republic (22%) and Chile (10%). Argentina (X square meters), Colombia (X square meters) and El Salvador (X square meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Dominican Republic (with a CAGR of +5.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest woolen fabric importing markets in Latin America and the Caribbean were Mexico ($X), Guatemala ($X) and the Dominican Republic ($X), together comprising 65% of total imports.

The Dominican Republic, with a CAGR of -0.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2021, which is down by -18.1% against the previous year. In general, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 an increase of 8.6%. As a result, import price reached the peak level of $X per square meter. From 2014 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was El Salvador ($X per square meter), while Haiti ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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