Singapore: Woven Carpet Market 2025

Woven Carpet Market Size in Singapore

In 2022, the Singaporean woven carpet market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a pronounced decrease. Woven carpet consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Woven Carpet Exports

Exports from Singapore

In 2022, approx. X square meters of woven carpets and other woven textile coverings were exported from Singapore; which is down by -54.4% compared with 2021 figures. Overall, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 when exports increased by 123% against the previous year. Over the period under review, the exports reached the peak figure at X square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, woven carpet exports contracted rapidly to $X in 2022. Over the period under review, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 213% against the previous year. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Malaysia (X square meters), Brunei Darussalam (X square meters) and India (X square meters) were the main destinations of woven carpet exports from Singapore, together accounting for 72% of total exports. Indonesia, Papua New Guinea, Vietnam, Bangladesh, Australia, Seychelles and Sri Lanka lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +47.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Brunei Darussalam ($X), Indonesia ($X) and Malaysia ($X) were the largest markets for woven carpet exported from Singapore worldwide, together accounting for 53% of total exports. India, Vietnam, Bangladesh, Papua New Guinea, Australia, Seychelles and Sri Lanka lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Bangladesh, with a CAGR of +64.2%, 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 a decline.

Export Prices by Country

The average woven carpet export price stood at $X per square meter in 2022, dropping by -49% against the previous year. In general, the export price showed a mild slump. The most prominent rate of growth was recorded in 2013 an increase of 81% against the previous year. Over the period under review, the average export prices attained the maximum at $X per square meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Seychelles ($X per square meter), while the average price for exports to Malaysia ($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 Seychelles (+37.3%), while the prices for the other major destinations experienced more modest paces of growth.

Woven Carpet Imports

Imports into Singapore

In 2022, purchases abroad of woven carpets and other woven textile coverings was finally on the rise to reach X square meters for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 34%. Over the period under review, imports hit record highs at X square meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, woven carpet imports totaled $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X square meters) constituted the largest woven carpet supplier to Singapore, with a 39% share of total imports. Moreover, woven carpet imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X square meters), threefold. India (X square meters) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+8.6% per year) and India (-11.8% per year).

In value terms, Thailand ($X), India ($X) and Turkey ($X) were the largest woven carpet suppliers to Singapore, together accounting for 54% of total imports. China, Belgium, Egypt, the United States, Switzerland, Ireland, Bangladesh and Indonesia lagged somewhat behind, together comprising a further 33%.

Bangladesh, with a CAGR of +39.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average woven carpet import price stood at $X per square meter in 2022, reducing by -10% against the previous year. Over the period under review, the import price saw a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of 21%. The import price peaked at $X per square meter in 2015; however, from 2016 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 Switzerland ($X per square meter), while the price for China ($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 Egypt (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :