Malaysia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Malaysia

The Malaysian knotted carpet market shrank sharply to $X in 2022, with a decrease of -26.4% 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, enjoyed buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Knotted Carpet Exports

Exports from Malaysia

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported from Malaysia; which is down by -28.8% on the year before. Overall, exports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in 2014 with an increase of 214% against the previous year. As a result, the exports reached the peak of X square meters. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, knotted carpet exports fell to $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 153% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X square meters) was the main destination for knotted carpet exports from Malaysia, with a 77% share of total exports. Moreover, knotted carpet exports to Indonesia exceeded the volume sent to the second major destination, Singapore (X square meters), more than tenfold. The third position in this ranking was taken by Pakistan (X square meters), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+4.1% per year) and Pakistan (+2.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Malaysia, comprising 42% of total exports. The second position in the ranking was held by Thailand ($X), with a 9% share of total exports. It was followed by Singapore, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+6.6% per year) and Singapore (-11.4% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, growing by 28% against the previous year. Over the period under review, the export price, however, faced a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of 149% against the previous year. Over the period under review, the average export prices reached the maximum at $X per square meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per square meter), while the average price for exports to Pakistan ($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 Bangladesh (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Malaysia

In 2022, knotted carpet imports into Malaysia declined notably to X square meters, reducing by -24.8% compared with the previous year. In general, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2018 with an increase of 428% against the previous year. As a result, imports attained the peak of X square meters. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, knotted carpet imports shrank dramatically to $X in 2022. Overall, imports, however, posted a noticeable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 148% against the previous year. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X square meters) was the main knotted carpet supplier to Malaysia, accounting for a 96% share of total imports. It was followed by India (X square meters), with a 2.1% share of total imports. The third position in this ranking was held by Egypt (X square meters), with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.5% per year) and Egypt (-20.3% per year).

In value terms, China ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Malaysia, comprising 66% of total imports. The second position in the ranking was taken by India ($X), with an 8.3% share of total imports. It was followed by Turkey, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.4% per year) and Turkey (-17.6% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, declining by -6.7% against the previous year. Over the period under review, the import price saw a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 27% against the previous year. Over the period under review, average import prices reached the maximum at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Turkey ($X per square meter), while the price for China ($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 Turkey (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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