Paraguay: Sewing Thread Market 2024

Sewing Thread Market Size in Paraguay

In 2022, the Paraguayan sewing thread market increased by 23% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Sewing Thread Exports

Exports from Paraguay

In 2022, approx. X kg of sewing thread of man-made filaments or staple fibers were exported from Paraguay; with a decrease of -12.5% on 2021. In general, exports saw a precipitous descent. The pace of growth appeared the most rapid in 2014 with an increase of 510% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sewing thread exports shrank to $X in 2022. Overall, exports recorded a dramatic decrease. The growth pace was the most rapid in 2014 when exports increased by 613% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X kg) was the main destination for sewing thread exports from Paraguay, with a 71% share of total exports. Moreover, sewing thread exports to Argentina exceeded the volume sent to the second major destination, the United States (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Argentina amounted to -52.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.4% per year) and Brazil (-50.6% per year).

In value terms, Argentina ($X) remains the key foreign market for sewing thread of man-made filaments or staple fibers exports from Paraguay, comprising 84% of total exports. The second position in the ranking was held by Brazil ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina stood at -51.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-55.6% per year) and the United States (-34.1% per year).

Export Prices by Country

In 2022, the average sewing thread export price amounted to $X per ton, surging by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to the United States ($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 Argentina (+3.0%), while the prices for the other major destinations experienced a decline.

Sewing Thread Imports

Imports into Paraguay

In 2022, overseas purchases of sewing thread of man-made filaments or staple fibers increased by 21% to X tons, rising for the second year in a row after three years of decline. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +31.6% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 53% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, sewing thread imports surged to $X in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +65.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest sewing thread supplier to Paraguay, with a 71% share of total imports. Moreover, sewing thread imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +4.9%.

In value terms, the largest sewing thread suppliers to Paraguay were Brazil ($X) and China ($X).

In terms of the main suppliers, China, with a CAGR of +6.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the average sewing thread import price amounted to $X per ton, growing by 2.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 23% 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 Brazil ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%).

Source: IndexBox Platform