Nepal: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Nepal

In 2022, after two years of growth, there was decline in the Nepalese plastic ornamental articles market, when its value decreased by -2.5% to $X. In general, consumption showed a pronounced descent. Plastic ornamental articles consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Plastic Ornamental Articles Production in Nepal

In value terms, plastic ornamental articles production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 52%. Plastic ornamental articles production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports from Nepal

Plastic ornamental articles exports from Nepal reduced remarkably to X tons in 2022, waning by -25% compared with 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 151%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports dropped rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of 191%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for plastic ornamental articles exports from Nepal, with a 50% share of total exports. Moreover, plastic ornamental articles exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by France (X kg), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.8% per year) and France (+2.0% per year).

In value terms, China ($X), the United States ($X) and Australia ($X) appeared to be the largest markets for plastic ornamental articles exported from Nepal worldwide, together comprising 58% of total exports. France, Germany, Hungary, the Netherlands and India lagged somewhat behind, together accounting for a further 13%.

Hungary, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, falling by -10.5% against the previous year. In general, the export price, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2019 an increase of 44%. The export price peaked at $X per ton in 2021, and then shrank in the following year.

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 India ($X per ton), while the average price for exports to China ($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 India (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Nepal

In 2022, after seven years of growth, there was significant decline in purchases abroad of statuettes and other ornamental articles of plastic, when their volume decreased by -16.3% to X tons. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 424% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic ornamental articles imports contracted dramatically to $X in 2022. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 457%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons) and India (X tons) were the main suppliers of plastic ornamental articles imports to Nepal.

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 +2.7%).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Nepal, comprising 89% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at -13.1%.

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, dropping by -18% against the previous year. In general, the import price saw a pronounced setback. The pace of growth appeared the most rapid in 2014 when the average import price increased by 35% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 China ($X per ton), while the price for India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.6%).

Source: IndexBox Platform