Luxembourg: Twine Product Market 2024

Twine Product Market Size in Luxembourg

The Luxembourg twine product market contracted significantly to $X in 2022, shrinking by -32.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded notable growth. Twine product consumption peaked at $X in 2021, and then declined markedly in the following year.

Twine Product Exports

Exports from Luxembourg

Twine product exports from Luxembourg surged to X tons in 2022, with an increase of 60% compared with the previous year's figure. Overall, exports recorded a prominent increase. The growth pace was the most rapid in 2016 when exports increased by 93% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, twine product exports soared to $X in 2022. In general, exports saw buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 133%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for twine product exports from Luxembourg, accounting for a 72% share of total exports. Moreover, twine product exports to Belgium exceeded the volume sent to the second major destination, Germany (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.9% per year) and France (+17.4% per year).

In value terms, Belgium ($X) emerged as the key foreign market for articles of twine, cordage, rope or cables exports from Luxembourg, comprising 67% of total exports. The second position in the ranking was taken by France ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to +32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+18.9% per year) and Germany (-3.9% per year).

Export Prices by Country

In 2022, the average twine product export price amounted to $X per ton, declining by -23.7% against the previous year. Over the period under review, the export price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 53%. As a result, the export price attained the peak level of $X per ton, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.3%), while the prices for the other major destinations experienced a decline.

Twine Product Imports

Imports into Luxembourg

In 2022, purchases abroad of articles of twine, cordage, rope or cables decreased by -21.7% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 142% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, twine product imports fell to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +10.9% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 84% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of twine product to Luxembourg, with a 63% share of total imports. Moreover, twine product imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.8% per year) and Belgium (+11.9% per year).

In value terms, Germany ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Luxembourg, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Belgium, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.2% per year) and Belgium (+4.3% per year).

Import Prices by Country

The average twine product import price stood at $X per ton in 2022, growing by 14% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 51% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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