Peru: Twine And Cordage Market 2024

Twine And Cordage Market Size in Peru

The Peruvian twine and cordage market fell to $X in 2022, waning by -11.8% against the previous year. In general, consumption saw a perceptible shrinkage. Twine and cordage consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Twine And Cordage Production in Peru

In value terms, twine and cordage production dropped to $X in 2022 estimated in export price. Overall, production faced a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by 4.7% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Twine And Cordage Exports

Exports from Peru

In 2022, after two years of growth, there was decline in shipments abroad of twine, cordage, rope and cables, when their volume decreased by -0.7% to X tons. In general, exports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2018 when exports increased by 37% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, twine and cordage exports expanded modestly to $X in 2022. Over the period under review, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2018 with an increase of 31%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for twine and cordage exports from Peru, with a 63% share of total exports. Moreover, twine and cordage exports to Ecuador exceeded the volume sent to the second major destination, Chile (X tons), threefold. Mexico (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-5.7% per year) and Mexico (-12.6% per year).

In value terms, the largest markets for twine and cordage exported from Peru were Ecuador ($X), Chile ($X) and the United States ($X), with a combined 81% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +6.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average twine and cordage export price stood at $X per ton in 2022, growing by 2.4% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2013 an increase of 7.3% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a 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 the United States ($X per ton), while the average price for exports to Ecuador ($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 Mexico (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into Peru

In 2022, after two years of growth, there was decline in purchases abroad of twine, cordage, rope and cables, when their volume decreased by -1.9% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 23% against the previous year. Imports peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, twine and cordage imports reduced to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine and cordage to Peru, with a 36% share of total imports. Moreover, twine and cordage imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was taken by Ecuador (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.3% per year) and Ecuador (+8.5% per year).

In value terms, China ($X), South Korea ($X) and Brazil ($X) constituted the largest twine and cordage suppliers to Peru, with a combined 52% share of total imports. Ecuador, the United States, India, Chile, Colombia, Italy, Honduras, the Philippines, Turkey and Bangladesh lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Honduras, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of imports, 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 twine and cordage import price amounted to $X per ton, waning by -9.9% against the previous year. Overall, the import price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 33%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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