Philippines: Knotted Carpet Market 2025

Knotted Carpet Market Size in the Philippines

The Philippine knotted carpet market reduced to $X in 2022, declining by -6.4% 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). Over the period under review, consumption, however, recorded a buoyant increase. Knotted carpet consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Knotted Carpet Exports

Exports from the Philippines

In 2022, knotted carpet exports from the Philippines contracted dramatically to X square meters, with a decrease of -57.8% on the previous year. Overall, exports saw a precipitous contraction. The growth pace was the most rapid in 2021 when exports increased by 550%. Over the period under review, the exports hit record highs at X square meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, knotted carpet exports declined significantly to $X in 2022. In general, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 221% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X square meters), Micronesia (X square meters) and the UK (X square meters) were the main destinations of knotted carpet exports from the Philippines, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Micronesia (with a CAGR of +34.4%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), Micronesia ($X) and the UK ($X) were the largest markets for knotted carpet exported from the Philippines worldwide, together comprising 98% of total exports.

Among the main countries of destination, Micronesia, with a CAGR of +10.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, which is down by -22.9% against the previous year. Over the period under review, the export price saw a noticeable slump. The most prominent rate of growth was recorded in 2020 an increase of 162%. As a result, the export price reached the peak level of $X per square meter. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per square meter), while the average price for exports to Singapore ($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 Germany (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into the Philippines

In 2022, the amount of knotted carpets and other knotted textile floor coverings imported into the Philippines dropped to X square meters, waning by -13.9% on the previous year. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 208% against the previous year. Imports peaked at X square meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports rose to $X in 2022. In general, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 238% against the previous year. Over the period under review, imports reached the maximum 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 knotted carpet supplier to the Philippines, with a 85% share of total imports. Moreover, knotted carpet imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), more than tenfold. The third position in this ranking was taken by South Korea (X square meters), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+5.7% per year) and South Korea (+6.5% per year).

In value terms, China ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to the Philippines, comprising 53% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 20% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+36.5% per year) and Japan (+53.2% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, with an increase of 20% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 44%. As a result, import price attained the peak level of $X per square meter. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per square meter), while the price for China ($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 Malaysia (+36.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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