Venezuela: Tufted Carpet Market 2024

Tufted Carpet Market Size in Venezuela

In 2022, after three years of growth, there was significant decline in the Venezuelan tufted carpet market, when its value decreased by -25.3% to $X. In general, consumption showed a abrupt decline. Tufted carpet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tufted Carpet Exports

Exports from Venezuela

In 2022, approx. X square meters of tufted carpets and other tufted textile floor coverings were exported from Venezuela; rising by 12% on 2021. In general, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 252%. As a result, the exports reached the peak of X square meters. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, tufted carpet exports surged to $X in 2022. Overall, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 200% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X square meters), Panama (X square meters) and Israel (X square meters) were the main destinations of tufted carpet exports from Venezuela, with a combined 96% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +12.0%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Venezuela, comprising 69% of total exports. The second position in the ranking was taken by Panama ($X), with an 18% share of total exports. It was followed by Colombia, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Israel amounted to +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-19.8% per year) and Colombia (-10.5% per year).

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, surging by 69% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per square meter in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per square meter), while the average price for exports to Colombia ($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 Costa Rica (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.

Tufted Carpet Imports

Imports into Venezuela

After three years of growth, overseas purchases of tufted carpets and other tufted textile floor coverings decreased by -26.1% to X square meters in 2022. In general, imports showed a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 111% against the previous year. Over the period under review, imports attained the peak figure at X square meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted carpet imports fell significantly to $X in 2022. Overall, imports saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 101%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest tufted carpet supplier to Venezuela, with a 52% share of total imports. Moreover, tufted carpet imports from China exceeded the figures recorded by the second-largest supplier, India (X square meters), twofold. The third position in this ranking was taken by Egypt (X square meters), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.5% per year) and Egypt (-11.3% per year).

In value terms, China ($X), India ($X) and Egypt ($X) were the largest tufted carpet suppliers to Venezuela, with a combined 75% share of total imports.

India, with a CAGR of +1.1%, 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 a decline.

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 24% against the previous year. The import price peaked at $X per square meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per square meter), while the price for the Netherlands ($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 (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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