Nepal: Tufted Carpet Market 2024

Tufted Carpet Market Size in Nepal

The Nepalese tufted carpet market totaled $X in 2022, approximately equating the previous year. Overall, consumption, however, continues to indicate strong growth. Tufted carpet consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Tufted Carpet Production in Nepal

In value terms, tufted carpet production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a strong increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Tufted Carpet Exports

Exports from Nepal

In 2022, exports of tufted carpets and other tufted textile floor coverings from Nepal contracted slightly to X square meters, declining by -3% on the previous year. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 23% against the previous year. As a result, the exports attained the peak of X square meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, tufted carpet exports fell significantly to $X in 2022. Overall, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

India (X square meters) was the main destination for tufted carpet exports from Nepal, with a 29% share of total exports. Moreover, tufted carpet exports to India exceeded the volume sent to the second major destination, China (X square meters), twofold. The third position in this ranking was taken by the United States (X square meters), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to -22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+49.3% per year) and the United States (+6.1% per year).

In value terms, Canada ($X), the United States ($X) and China ($X) appeared to be the largest markets for tufted carpet exported from Nepal worldwide, with a combined 41% share of total exports. Qatar, France, Germany, India, Saudi Arabia, the United Arab Emirates, Egypt, Jordan and Austria lagged somewhat behind, together accounting for a further 15%.

Qatar, with a CAGR of +47.5%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average tufted carpet export price stood at $X per square meter in 2022, reducing by -13.9% against the previous year. Over the period under review, the export price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2020 an increase of 69%. The export price peaked at $X per square meter in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per square meter), while the average price for exports to Austria ($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 Qatar (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Nepal

In 2022, the amount of tufted carpets and other tufted textile floor coverings imported into Nepal contracted markedly to X square meters, declining by -16.2% compared with 2021 figures. In general, total imports indicated a measured increase from 2012 to 2022: its volume 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, imports increased by +25.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 57% against the previous year. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, tufted carpet imports reduced remarkably to $X in 2022. Overall, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X square meters) constituted the largest tufted carpet supplier to Nepal, with a 34% share of total imports. Moreover, tufted carpet imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X square meters), twofold. The third position in this ranking was taken by the United Arab Emirates (X square meters), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and the United Arab Emirates (-5.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Nepal, comprising 33% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Turkey (+1.5% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, with a decrease of -2.6% against the previous year. In general, the import price saw a deep setback. The pace of growth appeared the most rapid in 2021 an increase of 5.7%. The import price peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per square meter), while the price for Saudi Arabia ($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 China (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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