Puerto Rico: Flax Fabric Market 2022

Flax Fabric Market Size in Puerto Rico

In 2021, the Puerto Rican flax fabric market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.4% against 2018 indices. Puerto Rico consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Flax Fabric Production in Puerto Rico

In value terms, flax fabric production expanded significantly to $X in 2021 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.9% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Flax Fabric Exports

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 69% of total exports in 2021. It was distantly followed by Belarus (X tons), mixing up a 4.8% share of total exports. Italy (X tons), Spain (X tons), Belgium (X tons), Turkey (X tons), the Netherlands (X tons), Russia (X tons), Hong Kong SAR (X tons) and India (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to flax fabric exports from China stood at +9.4%. At the same time, Spain (+13.9%), Turkey (+10.6%), Belarus (+3.1%), the Netherlands (+2.7%) and Italy (+1.9%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.9% from 2012-2021. Belgium and India experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-9.9%) and Russia (-16.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Spain increased by +16 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest flax fabric supplier from Puerto Rico, comprising 53% of global exports. The second position in the ranking was taken by Italy ($X), with an 11% share of global exports. It was followed by Belgium, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +10.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+1.4% per year) and Belgium (+3.3% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price saw 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 Italy ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.8%), while the other leaders experienced more modest paces of growth.

Flax Fabric Imports

Imports by Country

The countries with the highest levels of flax fabric imports in 2021 were Bangladesh (X tons), Afghanistan (X tons) and the United States (X tons), together amounting to 45% of total import. It was distantly followed by Italy (X tons), comprising a 4.9% share of total imports. Indonesia (X tons), Spain (X tons), South Korea (X tons), Vietnam (X tons), the Netherlands (X tons), Lithuania (X tons), Turkey (X tons), Portugal (X tons) and the UK (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +20.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X), Bangladesh ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2021, with a combined 40% share of total imports. Italy, Vietnam, Spain, Indonesia, the UK, Turkey, Portugal, Lithuania, South Korea and the Netherlands lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, Portugal, with a CAGR of +13.3%, 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

The import price in Puerto Rico stood at less than $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while South Korea ($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 UK (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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