Pakistan: Tufted Carpet Market 2024

Tufted Carpet Market Size in Pakistan

The Pakistani tufted carpet market contracted to $X in 2022, with a decrease of -14.1% 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 recorded a slight setback. Tufted carpet consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tufted Carpet Exports

Exports from Pakistan

Tufted carpet exports from Pakistan soared to X square meters in 2022, increasing by 29% compared with 2021. Overall, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 200%. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tufted carpet exports soared to $X in 2022. In general, exports, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2015 when exports increased by 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X square meters), Qatar (X square meters) and Afghanistan (X square meters) were the main destinations of tufted carpet exports from Pakistan, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +90.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Pakistan, comprising 49% of total exports. The second position in the ranking was taken by Qatar ($X), with a 14% share of total exports. It was followed by Afghanistan, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +56.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-1.2% per year) and Afghanistan (-19.0% per year).

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2022, picking up by 25% against the previous year. Overall, the export price continues to indicate a temperate expansion. The growth pace was the most rapid in 2017 when the average export price increased by 101%. Over the period under review, the average export prices hit record highs at $X per square meter in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per square meter), while the average price for exports to China ($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 India (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Pakistan

Tufted carpet imports into Pakistan fell to X square meters in 2022, remaining constant against the year before. Over the period under review, imports showed a mild descent. The pace of growth was the most pronounced in 2015 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs at X square meters in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, tufted carpet imports fell sharply to $X in 2022. In general, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of 48%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of tufted carpet to Pakistan, with a 40% share of total imports. Moreover, tufted carpet imports from China exceeded the figures recorded by the second-largest supplier, Iran (X square meters), twofold. The third position in this ranking was taken by the United Arab Emirates (X square meters), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+2.0% per year) and the United Arab Emirates (-5.6% per year).

In value terms, China ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Pakistan, comprising 42% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total imports. It was followed by Iran, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+8.7% per year) and Iran (-1.7% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, reducing by -15.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for Iran ($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 Egypt (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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