Southern Asia: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Southern Asia

The South Asian jute and jute-like fibers market surged to $X in 2022, picking up by 22% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.7% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Jute And Jute-Like Fibers in Southern Asia

In value terms, jute and jute-like fibers production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 23%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Bangladesh (X tons) remains the largest jute and jute-like fibers producing country in Southern Asia, comprising approx. 99.9% of total volume.

In Bangladesh, jute and jute-like fibers production remained relatively stable over the period from 2012-2022.

Exports of Jute And Jute-Like Fibers

Exports in Southern Asia

In 2022, approx. X tons of jute and jute-like fibers were exported in Southern Asia; falling by -5.2% compared with the year before. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 26%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, jute and jute-like fibers exports reduced slightly to $X in 2022. Over the period under review, exports saw a noticeable reduction. The pace of growth appeared the most rapid in 2016 with an increase of 61%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh was the largest exporting country with an export of around X tons, which accounted for 84% of total exports. It was distantly followed by India (X tons), constituting a 16% share of total exports.

Exports from Bangladesh decreased at an average annual rate of -9.5% from 2012 to 2022. At the same time, India (+4.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +4.8% from 2012-2022. While the share of India (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bangladesh (-11.8 p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) remains the largest jute and jute-like fibers supplier in Southern Asia, comprising 82% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Bangladesh stood at -6.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 when the export price increased by 28%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.9%).

Imports of Jute And Jute-Like Fibers

Imports in Southern Asia

In 2022, imports of jute and jute-like fibers in Southern Asia skyrocketed to X tons, with an increase of 72% against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, jute and jute-like fibers imports soared to $X in 2022. Overall, imports enjoyed a tangible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the key importing country with an import of about X tons, which amounted to 62% of total imports. Pakistan (X tons) took the second position in the ranking, distantly followed by Nepal (X tons). All these countries together held approx. 38% share of total imports.

India was also the fastest-growing in terms of the jute and jute-like fibers imports, with a CAGR of +4.4% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. Nepal (-8.1%) illustrated a downward trend over the same period. India (+19 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and Nepal saw its share reduced by -4% and -14.8% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported jute and jute-like fibers in Southern Asia, comprising 62% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 29% share of total imports.

In India, jute and jute-like fibers imports increased at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+1.3% per year) and Nepal (-4.2% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, which is down by -4% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers import price increased by +54.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 35%. As a result, import price attained the peak level of $X per ton, and then reduced modestly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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