Uruguay: Narrow Woven Fabric Market 2024

Narrow Woven Fabric Market Size in Uruguay

For the third consecutive year, the Uruguayan narrow woven fabric market recorded growth in sales value, which increased by 75% to $X in 2021. Overall, consumption showed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Narrow Woven Fabric Production in Uruguay

In value terms, narrow woven fabric production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of 87%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Narrow Woven Fabric Exports

Exports from Uruguay

In 2021, shipments abroad of narrow woven fabrics was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt descent. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, narrow woven fabric exports surged to $X in 2021. Overall, exports, however, saw a dramatic decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons), Mexico (X tons) and Spain (X tons) were the main destinations of narrow woven fabric exports from Uruguay, with a combined 92% share of total exports. These countries were followed by China and Argentina, which together accounted for a further 7.7%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +61.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for narrow woven fabric exported from Uruguay were Spain ($X), Brazil ($X) and Mexico ($X), with a combined 95% share of total exports.

Brazil, with a CAGR of +22.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average narrow woven fabric export price amounted to $X per ton, shrinking by -21.4% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-0.6%), while the prices for the other major destinations experienced a decline.

Narrow Woven Fabric Imports

Imports into Uruguay

In 2021, the amount of narrow woven fabrics imported into Uruguay surged to X tons, picking up by 93% on the previous year's figure. In general, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, narrow woven fabric imports soared to $X in 2021. Overall, imports continue to indicate a perceptible expansion. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of narrow woven fabric to Uruguay, with a 59% share of total imports. Moreover, narrow woven fabric imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+61.8% per year) and Brazil (-5.4% per year).

In value terms, China ($X) constituted the largest supplier of narrow woven fabrics to Uruguay, comprising 47% of total imports. The second position in the ranking was held by Brazil ($X), with a 12% share of total imports. It was followed by India, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.7% per year) and India (+43.3% per year).

Import Prices by Country

The average narrow woven fabric import price stood at $X per ton in 2021, stabilizing at the previous year. In general, the import price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2020 an increase of 20%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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