Libya: Tufted Carpet Market 2024

Tufted Carpet Market Size in Libya

In 2022, the Libyan tufted carpet market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a strong expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Tufted Carpet Exports

Exports from Libya

In 2022, exports of tufted carpets and other tufted textile floor coverings from Libya reduced sharply to X square meters, dropping by -16.2% on 2021. Over the period under review, exports recorded a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 105% against the previous year. The exports peaked at X square meters in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, tufted carpet exports contracted to $X in 2022. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 65%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Tunisia (X square meters) was the main destination for tufted carpet exports from Libya, with a 72% share of total exports. Moreover, tufted carpet exports to Tunisia exceeded the volume sent to the second major destination, Egypt (X square meters), threefold.

From 2012 to 2022, the average annual growth rate of volume to Tunisia amounted to +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-15.6% per year) and Mauritania (-21.8% per year).

In value terms, Tunisia ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Libya, comprising 60% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Tunisia amounted to +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (-8.5% per year) and Egypt (-22.8% per year).

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, rising by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 an increase of 24% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mauritania ($X per square meter), while the average price for exports to Egypt ($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 Ghana (+114.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Libya

In 2022, supplies from abroad of tufted carpets and other tufted textile floor coverings was finally on the rise to reach X square meters after two years of decline. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2019 when imports increased by 392% against the previous year. As a result, imports reached the peak of X square meters. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, tufted carpet imports rose to $X in 2022. In general, imports recorded a perceptible increase. The pace of growth appeared the most rapid in 2019 with an increase of 335%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest supplier of tufted carpet to Libya, with a 90% share of total imports. Moreover, tufted carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X square meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.9% per year) and Belgium (-1.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Libya, comprising 76% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.1% per year) and Belgium (-1.1% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, dropping by -6.8% against the previous year. Over the period under review, the import price saw a abrupt slump. The pace of growth was the most pronounced in 2013 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 to 2022, the average import prices remained at a somewhat 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 China ($X per square meter), while the price for Turkey ($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 Belgium (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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