Sri Lanka: Carpet Market 2024

Carpet Market Size in Sri Lanka

The Sri Lankan carpet market plummeted to $X in 2023, declining by X% against the previous year. Overall, consumption, however, saw a significant contraction. Carpet consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Carpet Production in Sri Lanka

In value terms, carpet production expanded significantly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. Carpet production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Carpet Exports

Exports from Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in overseas shipments of carpets and other textile floor coverings, which decreased by X% to X square meters in 2023. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X square meters in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, carpet exports shrank dramatically to $X in 2023. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

Canada (X square meters) was the main destination for carpet exports from Sri Lanka, with a X% share of total exports. Moreover, carpet exports to Canada exceeded the volume sent to the second major destination, Australia (X square meters), twofold. The third position in this ranking was held by the United States (X square meters), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United States (X% per year).

In value terms, Australia ($X) remains the key foreign market for carpets and other textile floor coverings exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with an X% share of total exports. It was followed by the UK, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the UK (X% per year).

Export Prices by Country

The average carpet export price stood at $X per square meter in 2023, jumping by X% against the previous year. In general, the export price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2014 an increase of X%. The export price peaked at $X per square meter in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per square meter), while the average price for exports to Bangladesh ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carpet Imports

Imports into Sri Lanka

In 2023, approx. X square meters of carpets and other textile floor coverings were imported into Sri Lanka; rising by X% on 2022 figures. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X square meters in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, carpet imports reached $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X square meters) constituted the largest carpet supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, carpet imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), fivefold. The third position in this ranking was held by India (X square meters), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of carpets and other textile floor coverings to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Turkey (X% per year).

Import Prices by Country

The average carpet import price stood at $X per square meter in 2023, shrinking by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per square meter in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform