Puerto Rico: Twine Product Market 2022

Twine Product Market Size in Puerto Rico

The Puerto Rican twine product market stood at $X in 2021, remaining stable against the previous year. Overall, consumption posted a resilient expansion. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Twine Product Production in Puerto Rico

In value terms, twine product production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 92%. Puerto Rico production peaked at $X in 2020, and then reduced in the following year.

Twine Product Exports

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 65% of total exports in 2021. India (X tons), Germany (X tons), Portugal (X tons), the Netherlands (X tons), the United States (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons) and Turkey (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +11.3% from 2012 to 2021. At the same time, Bangladesh (+48.7%), Turkey (+23.1%), Vietnam (+17.7%), Portugal (+15.3%), the Netherlands (+13.3%), India (+13.1%) and Germany (+4.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +48.7% from 2012-2021. The United States and Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and Bangladesh increased by +11 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine product supplier from Puerto Rico, comprising 50% of global exports. The second position in the ranking was taken by Germany ($X), with a 6.6% share of global exports. It was followed by the United States, with a 4.5% share.

In China, twine product exports expanded at an average annual rate of +12.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+5.3% per year) and the United States (+6.3% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, stabilizing at the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the other leaders experienced more modest paces of growth.

Twine Product Imports

Imports by Country

In 2021, the United States (X tons) represented the largest importer of articles of twine, cordage, rope or cables, constituting 30% of total imports. Germany (X tons) ranks second in terms of the total imports with a 7% share, followed by the Netherlands (5.3%). The following importers - the UK (X tons), Mexico (X tons), France (X tons), Canada (X tons), Italy (X tons), Australia (X tons), South Korea (X tons), Spain (X tons), Japan (X tons) and Belgium (X tons) - together made up 27% of total imports.

Imports into the United States increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, South Korea (+17.0%), the Netherlands (+15.1%), Germany (+12.8%), Belgium (+11.7%), Australia (+11.3%), France (+11.3%), Mexico (+7.9%), Canada (+6.2%), Italy (+6.2%), the UK (+4.4%) and Spain (+3.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +17.0% from 2012-2021. Japan experienced a relatively flat trend pattern. From 2012 to 2021, the share of Germany and the Netherlands increased by +2.8 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported articles of twine, cordage, rope or cables into Puerto Rico, comprising 29% of global imports. The second position in the ranking was held by Germany ($X), with a 6.8% share of global imports. It was followed by Mexico, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +2.3%. In the other countries, the average annual rates were as follows: Germany (+16.0% per year) and Mexico (+8.5% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, almost unchanged from the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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