Peru: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Peru

The Peruvian travelling wool rug market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Travelling Wool Rug Production in Peru

In value terms, travelling wool rug production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Travelling Wool Rug Exports

Exports from Peru

In 2022, the amount of blankets and travelling rugs of wool exported from Peru dropped markedly to X units, which is down by -23.4% against the year before. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 85%. As a result, the exports attained the peak of X units, and then declined remarkably in the following year.

In value terms, travelling wool rug exports contracted dramatically to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 97%. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

The United States (X units) was the main destination for travelling wool rug exports from Peru, accounting for a 52% share of total exports. Moreover, travelling wool rug exports to the United States exceeded the volume sent to the second major destination, Denmark (X units), fourfold. Chile (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-0.0% per year) and Chile (+6.9% per year).

In value terms, the United States ($X) remains the key foreign market for blankets and travelling rugs of wool exports from Peru, comprising 60% of total exports. The second position in the ranking was taken by Denmark ($X), with an 11% share of total exports. It was followed by Lithuania, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+4.2% per year) and Lithuania (+0.3% per year).

Export Prices by Country

The average travelling wool rug export price stood at $X per unit in 2022, falling by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 12%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined 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 Germany ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into Peru

In 2022, purchases abroad of blankets and travelling rugs of wool decreased by -10.9% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 1,474% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, travelling wool rug imports soared to $X in 2022. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by 413% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of travelling wool rug to Peru, with a 80% share of total imports. Moreover, travelling wool rug imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The third position in this ranking was held by Spain (X units), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+16.2% per year) and Spain (+15.9% per year).

In value terms, China ($X), Spain ($X) and Italy ($X) appeared to be the largest travelling wool rug suppliers to Peru, together comprising 87% of total imports.

China, with a CAGR of +47.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average travelling wool rug import price amounted to $X per unit, surging by 48% against the previous year. Over the period under review, the import price, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2016 an increase of 186% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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