Peru: Woolen Fabric Market 2022

Woolen Fabric Market Size in Peru

In 2021, after four years of decline, there was growth in the Peruvian woolen fabric market, when its value increased by 0.3% to $X. Overall, consumption, however, showed a mild descent. The pace of growth appeared the most rapid in 2016 when the market value increased by 4.6%. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Woolen Fabric Production in Peru

In value terms, woolen fabric production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2016 with an increase of 3.5% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Woolen Fabric Exports

Exports from Peru

In 2021, after three years of decline, there was significant growth in overseas shipments of woven woolen fabrics, when their volume increased by 73% to X square meters. Over the period under review, exports, however, showed a deep setback. Over the period under review, the exports reached the peak figure at X square meters in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, woolen fabric exports soared to $X in 2021. In general, exports, however, showed a abrupt curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X square meters), Mexico (X square meters) and Italy (X square meters) were the main destinations of woolen fabric exports from Peru, together comprising 55% of total exports. China, Colombia, Israel, Bolivia, Argentina, South Korea, Chile and Brazil lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +63.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for woolen fabric exports from Peru, comprising 38% of total exports. The second position in the ranking was held by Italy ($X), with a 15% share of total exports. It was followed by Mexico, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.3% per year) and Mexico (+41.1% per year).

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, declining by -14.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2014 an increase of 15%. Over the period under review, the average export prices reached the maximum at $X per square meter in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per square meter), while the average price for exports to Israel ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into Peru

In 2021, overseas purchases of woven woolen fabrics decreased by -90.5% to X square meters for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a dramatic contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 59% against the previous year. Over the period under review, imports reached the peak figure at X square meters in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen fabric imports dropped significantly to $X in 2021. Overall, imports faced a sharp slump. The pace of growth appeared the most rapid in 2017 when imports increased by 43%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X square meters) constituted the largest supplier of woolen fabric to Peru, accounting for a 74% share of total imports. Moreover, woolen fabric imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X square meters), sixfold. Italy (X square meters) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico totaled -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-34.8% per year) and Italy (-27.2% per year).

In value terms, Mexico ($X) constituted the largest supplier of woolen fabric to Peru, comprising 70% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports. It was followed by China, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico stood at -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-29.7% per year) and China (-29.0% per year).

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, dropping by -31% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 34%. Over the period under review, average import prices reached the peak figure at $X per square meter in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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