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Brazil’s Sugar Exports to Reach the Highest Level with Doubling Supplies to China

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Archives, Global Trade Daily, Imports/Exports, International Trade

Brazil’s Sugar Exports to Reach the Highest Level with Doubling Supplies to China

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IndexBox has just published a new report: ‘Brazil – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

From January to August 2021, Brazil’s exported 23.7M tonnes, which was 26% larger than in the same period of 2020. This year, China’s sugar purchases from Brazil have doubled, reaching 4M tonnes. Shipments to Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates have also grown sharply. Last year, sugar exports from Brazil hit record 27M tonnes, jumping by +67% y-o-y. In value terms, exports constituted $7.4B. China, Algeria and Bangladesh were the largest importers of Brazilian sugar in 2020. 

Brazil’s Sugar Exports by Country

From January to August 2021, Brazil’s sugar exports reached 23.7M tonnes, up 26% from the same period in 2020. In value terms, exports exceeded $5.8B over eight-month of 2021. It is expected that sugar exports from Brazil will hit the last year’s record by the end of 2021.

This year, soaring supplies to China, Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates provided the most export increment. China’s sugar purchases rose twofold against the same period of 2020, reaching 4M tonnes by September 2021.

In 2020, the amount of sugar exported from Brazil skyrocketed to 27M tonnes, jumping by +67% compared with 2019. In value terms, sugar exports skyrocketed by +70% y-o-y to $7.4B (IndexBox estimates) in 2020.

China (4.7M tonnes), Algeria (2.4M tonnes) and Bangladesh (2.3M tonnes) were the main destinations of sugar exports from Brazil, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 51%.

In 2020, the most notable rate of growth in terms of shipments, amongst the leading countries of destination, was attained by Malaysia, while exports for the other leaders experienced more modest paces of growth. Malaysian sugar purchases from Brazil grew fourfold in physical terms.

In value terms, China ($1.3B), Algeria ($669M) and Bangladesh ($628M) constituted the largest markets for sugar exported from Brazil worldwide, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 50%.

In 2020, the average sugar export price amounted to $277 per tonne, almost unchanged from the previous year. Average prices varied noticeably for the significant foreign markets. In 2020, the countries with the highest prices were Morocco ($281 per tonne) and Bangladesh ($279 per tonne), while the average prices for exports to Iraq ($263 per tonne) and Indonesia ($269 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Morocco, while the prices for the other significant destinations experienced more modest paces of growth.

Source: IndexBox Platform

metal
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American Exports of Light Gauge Metal Containers Doubled in the Past Five Years

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IndexBox has just published a new report: ‘U.S. Metal Box And Light Gauge Container Market. Analysis And Forecast to 2025‘. Here is a summary of the report’s key findings.

Over the past five years, American exports of metal boxes and light gauge containers have doubled in value terms, from $475M to $927M. Canada imports 97% of metal containers supplying abroad from America. In physical terms, Canada ramped up its imports from the U.S. by +62.9% y-o-y in 2020. 

American Exports of Metal Boxes and Light Gauge Containers

In 2020, approx. 4.7B units of metal boxes and light gauge containers were exported from the U.S.; jumping by +31% against the previous year’s figure. In the past five years, exports grew from 735M units to 4.7B units.

In value terms, exports of metal boxes and light gauge containers rose markedly to $927M (IndexBox estimates) in 2020. Overall, total exports indicated a buoyant expansion from 2015 to 2020: its value increased at an average annual rate of +45.9% over the last five-year period.

Canada (4.6B units) was the main destination for exports of metal boxes and light gauge containers from the U.S., with a 97% share of total exports. It was followed by Mexico (105M units), with a 2.2% share of total exports. In 2020, the volume of imports to Canada rose by +62.9% y-o-y.

In value terms, Canada ($605M) remains the key foreign market for metal box and light gauge container exports from the U.S., comprising 65% of total exports. The second position in the ranking was occupied by Mexico ($191M), with a 21% share of total exports. From 2015 to 2020, the average annual rate of growth in terms of value to Canada amounted to +25.5%.

Source: IndexBox Platform

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American Frozen Fish Meat Exports Slump on Falling Demand from Japan

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IndexBox has just published a new report: ‘U.S. – Frozen Fish Meat – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

American frozen fish meat exports dropped from $602M in 2019 to $518M in 2020 amid the declining demand from Japan and South Korea. In physical terms, exports shrank by -9.5% y-o-y to 198K tonnes. South Korea, Japan and France constitute the leading importers, accounting for 65% of American frozen fish meat exports. The average export price for frozen fish meat from the U.S. decreased by -4.8% y-o-y to $2,623 per tonne in 2020.

American Frozen Fish Meat Exports by Country

In 2020, frozen fish meat exports from the U.S. declined to 198K tonnes, reducing by -9.5% against the year before. In value terms, frozen fish meat exports shrank from $602M in 2019 to $518M (IndexBox estimates) in 2020.

South Korea (61K tonnes), Japan (51K tonnes) and France (17K tonnes) were the main destinations of frozen fish meat exports from the U.S., with a combined 65% share of total exports. The Netherlands, Spain, Lithuania and Canada lagged somewhat behind, together accounting for a further 24%.

American supplies to Japan dropped from 75K tonnes to 51K tonnes last year. Exports to South Korea reduced from 68K tonnes to 61K tonnes. By contrast, frozen fish meat exports to the Netherlands increased by +50%, reaching 14K tonnes in 2020.

In value terms, the largest markets for frozen fish meat exported from the U.S. were South Korea ($162M), Japan ($128M) and France ($45M), with a combined 65% share of total exports. These countries were followed by Spain, Lithuania, the Netherlands and Canada, which together accounted for a further 25%.

The average export price for frozen fish meat stood at $2,623 per tonne in 2020, shrinking by -4.8% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Canada ($3,563 per tonne), while the average price for exports to the Netherlands ($2,330 per tonne) was amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to France, while the prices for the other significant destinations experienced mixed trend patterns.

Source: IndexBox Platform

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Belgium’s Copper Imports Jump to $1.5B, with Rising Supplies from Bulgaria and Spain

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IndexBox has just published a new report: ‘Belgium – Copper – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Belgium’s copper imports spiked by +14.9% y-o-y to $1.5B in 2020. In physical terms, imports rose by +3.2% y-o-y, reaching 175K tonnes. Bulgaria supplies nearly half of the total copper volume imported to Belgium. In 2020, Belgium’s purchases from Bulgaria and Spain recorded significant growth. The average copper import price increased by +11% y-o-y to $8,266 per tonne last year. 

Belgium’s Copper Imports by Country

In 2020, approx. 175K tonnes of copper were imported into Belgium, growing by +3.2% compared with the previous year. In value terms, copper imports rose by +14.9% y-o-y to $1.5B (IndexBox estimates) in 2020.

In 2020, Bulgaria (84K tonnes) constituted the largest copper supplier to Belgium, accounting for a 48% share of total imports. Moreover, copper imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Spain (41K tonnes), twofold. Namibia (27K tonnes) ranked third in terms of total imports with a 15% share.

In value terms, Bulgaria ($734M) constituted the largest supplier of copper to Belgium, comprising 51% of total imports. The second position in the ranking was occupied by Namibia ($251M), with a 17% share of total imports, and it was followed by Spain, with a 16% share.

In 2020, the purchases from Bulgaria grew by +48.9% y-o-y in physical terms and by +59.5% y-o-y in value terms. The supplies from Spain rose by +13.8% y-o-y in physical terms and by +26.9% y-o-y in value terms.

In 2020, the average copper import price amounted to $8,266 per tonne, picking up by +11% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany, while the price for Spain was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other significant suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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U.S. Accelerates Brewing Dregs and Waste Exports to Asia

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IndexBox has just published a new report: ‘U.S. – Brewing Or Distilling Dregs And Waste – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

American brewing dregs and waste exports remain buoyant, growing by +4.5% y-o-y to $2.3B in 2020. A slump in shipments to Mexico, the leading importer of brewing dregs from the U.S., was offset by increased supplies to the Asian countries. Purchases by Mexico, Viet Nam and South Korea constitute 39% of the total volume exported from the U.S. The average export price for brewing dregs and waste increased by +2.9% y-o-y to $212 per tonne in 2020.

American Exports of Brewing Dregs and Waste

Exports of brewing dregs and waste from the U.S. rose modestly to 11M tonnes in 2020, increasing by +1.6% y-o-y. In value terms, exports grew by +4.5% y-o-y to $2.3B (IndexBox estimates) in 2020.

Mexico (1.7M tonnes), Viet Nam (1.3M tonnes) and South Korea (1.3M tonnes) were the leading destinations for brewing dregs and waste supplied from the U.S., together comprising 39% of the total export volume. These countries were followed by Indonesia, Thailand, Turkey, Japan, Canada, Ireland, the Philippines, China, New Zealand and Taiwan (Chinese), which together accounted for a further 44%.

In 2020, American supplies to Viet Nam (+7.0% y-o-y), South Korea (+1.3% y-o-y), Indonesia (+1.3% y-o-y), Thailand (+46.4% y-o-y) and (China (+55.4% y-o-y) increased significantly. By contrast, exports to Mexico dropped by -14.2% y-o-y.

In value terms, Mexico ($383M), Viet Nam ($285M) and South Korea ($272M) appeared to be the largest markets for brewing dregs exported from the U.S. worldwide, together accounting for 40% of total exports. These countries were followed by Indonesia, Thailand, Turkey, Japan, Canada, Ireland, the Philippines, China, New Zealand and Taiwan (Chinese), which together accounted for a further 43%.

The average export price for brewing dregs and waste from the U.S. stood at $212 per tonne in 2020, surging by +2.9% against the previous year. In 2020, the countries with the highest prices were Thailand ($230 per tonne) and Viet Nam ($222 per tonne), while the average prices for exports to Canada ($169 per tonne) and Turkey ($199 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Thailand, while the prices for the other significant destinations experienced more modest paces of growth.

Source: IndexBox Platform

magnesium
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Approaching Magnesium Deficiency Threatens to Disrupt the European Auto Industry

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IndexBox has just published a new report: ‘World – Magnesium – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

Limiting industrial carbon dioxide emissions in China has halted work in two-thirds of Shaanxi’s fifty magnesium plants, while the rest of the factories will be required to halve production. As a result, in the next six months, the global market may face a deficit, hitting the European automotive industry particularly hard. The German Non-Ferrous Metals Association (WVM) calls on the German government to begin negotiations with China to increase magnesium supplies to Europe.

Key Trends and Insights

Over the next six months, a deficit is expected in the world magnesium market. China, the primary supplier of magnesium, is cutting production in order to reduce greenhouse emissions as part of a comprehensive program to reduce energy consumption. According to IndexBox estimates, China accounts for 87% of world production and 81% of the total exports, so a marked reduction in supply in the country will be a shock to the global market.

In the Shaanxi Province, a critical magnesium-producing region in China, 35 of the 50 magnesium plants have been shut down to date. The rest of the factories were forced to cut production in half to save energy. In September of this year, the Yulin Municipal Development and Reform Commission (Shaanxi Province) introduced restrictions that require businesses to suspend or reduce production intensity by 50-60%, depending on the level of energy consumption of the company and the amount of its carbon dioxide emissions.

The world market reacted to the introduction of restrictive measures in China with a jump in prices. European average magnesium prices surpassed the $4,500 per tonne mark in early September, a peak since 2008, while back in June, they were at $2,800 per tonne (according to IndexBox estimates).

The automotive industry, consuming 35% of magnesium produced worldwide, could suffer from the metal shortage. The European market is almost entirely dependent on Chinese supplies, which cover 95% of the total demand for the metal since there is no domestic production within the EU. It is expected that the current reserves of magnesium in Europe, and Germany in particular, a key importer of this metal, will be exhausted by November 2021.

A cross-industry group of associations issued an urgent call for action against the imminent risk of European production shutdowns due to a possible suspension of supply chains. This letter has been signed by European Aluminium, Eurometaux, Eurofer, ECCA, IMA, ESTAL, Metals Packaging Europe, CLEPA, EuroAlliages, EUWA, and the European Automobile Manufacturers’ Association (ACEA), representing the 15 major Europe-based automobile manufacturers including BMW, Toyota, Volkswagen, Honda, Hyundai and Ferrari. Earlier, the German Non-Ferrous Metals Association (WVM) has sent a similar letter to the German government calling for negotiations with China to increase magnesium supplies to the EU.

Global Magnesium Production

Global magnesium production dropped to 1M tonnes in 2020, with a decrease of -7.5% on the previous year. In value terms, magnesium production declined from $3B in 2019 to $2.8B in 2020 estimated in export prices.

China (900K tonnes) constituted the country with the largest volume of magnesium production, comprising approx. 87% of total volume. Moreover, magnesium production in China exceeded the figures recorded by the second-largest producer, Russia (60K tonnes), more than tenfold. The third position in this ranking was occupied by Brazil (20K tonnes), with a 1.9% share.

Global Magnesium Exports

Global magnesium exports fell to 385K tonnes in 2020, waning by -9.8% against the previous year. In value terms, magnesium exports shrank from $1.2B in 2019 to $1.1B in 2020.

China prevails in magnesium export structure, recording 311K tonnes, which was approx. 81% of total exports in 2020. The U.S. (11K tonnes), Turkey (9.4K tonnes), Germany (9.3K tonnes), the Czech Republic (6.7K tonnes), Russia (6.7K tonnes) and Taiwan (Chinese) (5.8K tonnes) took a little share of total exports.

In value terms, China ($759M) remains the largest magnesium supplier worldwide, comprising 72% of global exports. The second position in the ranking was occupied by Turkey ($39M), with a 3.7% share of global exports. It was followed by the U.S., with a 3.4% share.

In 2020, the value of supplies from China and the U.S. dropped by -15.6% y-o-y and -15.3% y-o-y, respectively. By contrast, Turkey increased exports in value terms twofold.

In 2020, the average magnesium export price amounted to $2,747 per tonne, waning by -3.8% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Turkey ($4,110 per tonne), while China ($2,442 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

World’s Largest Magnesium Importers

The purchases of the twelve major importers of magnesium, namely Canada, Germany, the U.S., Japan, South Korea, India, Taiwan (Chinese), Norway, France, Austria, Romania and Russia, represented more than two-thirds of total import. Mexico (8.6K tonnes) held a minor share of total imports.

In value terms, the largest magnesium importing markets worldwide were the U.S. ($156M), Canada ($92M) and Germany ($89M), with a combined 38% share of global imports.

Source: IndexBox Platform

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Robust China’s Demand Drives ABS Plastic Exports from South Korea

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IndexBox has just published a new report: ‘Republic of Korea – Acrylonitrile-Butadiene-Styrene (ABS) Copolymers In Primary Forms – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

South Korea remains the world’s largest supplier of primary ABS copolymers, accounting for 46% of global exports. Robust demand from China propels the growth of South Korea’s shipments. In the first seven months of 2021, the export value increased by +60% against the same period of 2020. Last year, ABS copolymer exports from Korea reached $2.1B. China, Hong Kong SAR and Turkey constitute the leading importers of Korean ABS plastics. In 2020, the average ABS copolymer export price country’s amounted to $1,521 per tonne, down by -7.9% against the previous year.

South Korea’s ABS Copolymer Exports by Country

South Korea is the world’s largest supplier of primary ABS copolymers, accounting for 46% of global exports. In the first seven months of 2021, South Korea exported 759K tonnes of primary ABS copolymers worth $1.76B, a 60%-increase in value terms against the same period of 2020.

In 2020, ABS copolymer exports from South Korea declined to 1.3M tonnes, approximately mirroring 2019 figures. In value terms, ABS copolymer exports dropped from $2.2B in 2019 to $2.1B (IndexBox estimates) in 2020.

China (499K tonnes) was the leading destination for ABS copolymer exports from South Korea, accounting for 37% of total exports. Moreover, ABS copolymer exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (120K tonnes), fourfold. Turkey (80K tonnes) ranked third in terms of total exports with a 6% share. In value terms, China ($725M) remains the key foreign market for ABS copolymer exports from South Korea, comprising 35% of total exports. Hong Kong SAR ($178M) occupied the second position in the ranking, with an 8.7% share of total exports. It was followed by Turkey, with a 5.9% share.

In 2020, the average annual growth rate of exports value sent to China totalled +5.2%. Exports to the other significant destinations recorded the following average annual rates of export growth: Hong Kong SAR (-20.4% per year) and Turkey (+3.2% per year).

In 2020, the average ABS copolymer export price amounted to $1,521 per tonne, falling by -7.9% against the previous year. Average prices varied noticeably for the major overseas markets. In 2020, the countries with the highest prices were Mexico ($1,721 per tonne) and the U.S. ($1,663 per tonne), while the average price for exports to China ($1,452 per tonne) and Malaysia ($1,460 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Hong Kong SAR, while the prices for the other significant destinations declined.

Source: IndexBox Platform

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Ukrainian Sunflower Oilcake Suppliers Enjoy Surging Demand in China

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IndexBox has just published a new report: ‘China – Sunflower Oilcake – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Over the last year, China increased its sunflower oilcake imports from 1.4M tonnes to 2.2M tonnes. In value terms, the imports skyrocketed by +51.3% y-o-y to $588M. Ukraine dominates Chinese sunflower oilcake imports, with a 97%-share of the total volume. The supplies from Ukraine gained $170M last year. The average sunflower oilcake import price in China fell by -3.5% y-o-y to $269 per tonne in 2020.

Chinese Sunflower Oilcake Imports by Country

In 2020, approx. 2.2M tonnes of sunflower oilcake were imported into China, picking up by +51% against 2019. In value terms, sunflower oilcake imports surged by +51.3% y-o-y to $588M (IndexBox estimates) in 2020.

In 2020, Ukraine (2.1M tonnes) was China’s main sunflower oilcake supplier, accounting for a 97% share of total imports. It was followed by Bulgaria (50K tonnes), with a 2.3% share of total imports.

In value terms, Ukraine ($571M) constituted the largest supplier of sunflower oilcake to China, comprising 97% of total imports. The second position in the ranking was occupied by Bulgaria ($13M), with a 2.2% share of total imports. In 2020, the average annual rate of growth in terms of value from Ukraine totalled +42.2%.

In 2020, the average sunflower oilcake import price amounted to $269 per tonne, reducing by -3.5% against the previous year. Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Ukraine ($270 per tonne), while the price for Bulgaria amounted to $262 per tonne. In 2020, the most notable rate of growth in terms of prices was attained by Bulgaria.

Source: IndexBox Platform

pasta imports
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The UK Ramps Up Imports of Stuffed Pasta and Couscous

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IndexBox has just published a new report: ‘United Kingdom – Stuffed Pasta And Couscous – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

UK imports of stuffed pasta and couscous grew by +15.8% y-o-y to $525M last year. Italy, China and France provide approximately 77% of the total volume imported into the UK. All these countries have significantly expanded their exports of stuffed pasta and couscous to the UK. Germany emerged as the fastest-growing supplier in terms of import value in 2020.

UK Imports of Stuffed Pasta and Couscous

In 2020, approx. 316K tonnes of stuffed pasta and couscous were imported into the UK, growing by +16% on the previous year. In value terms, pasta and couscous imports soared by +15.8% y-o-y to $525M (IndexBox estimates) in 2020.

In 2020, Italy (209K tonnes) constituted the largest supplier of pasta and couscous to the UK, with a 66% share of total imports. Moreover, pasta and couscous imports from Italy exceeded the figures recorded by the second-largest supplier, China (22K tonnes), tenfold. France (14K tonnes) ranked third in terms of total imports with a 4.3% share.

In value terms, Italy ($266M) constituted the largest supplier of pasta and couscous to the UK, comprising 51% of total imports. The second position in the ranking was occupied by China ($42M), with an 8% share of total imports, and it was followed by Germany, with a 7.7% share.

In 2020, the average annual growth rate of value from Italy totalled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and Germany (+23.0% per year). Germany emerged as the fastest-growing exporter of stuffed pasta and couscous to the UK.

In 2020, the average pasta and couscous import price amounted to $1,664 per tonne, therefore, remained relatively stable against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($3,819 per tonne), while the price for Italy ($1,271 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other significant suppliers experienced more modest paces of growth.

Source: IndexBox Platform

rug imports
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Turkey, India and Vietnam Benefit from Rising American Carpet and Rug Imports

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IndexBox has just published a new report: ‘U.S. Carpet And Rug Market. Analysis And Forecast to 2025’. Here is a summary of the report’s key findings.

Last year, the U.S. ramped up imports of carpets and rugs by +11% to 796K tonnes. In value terms, imports reached $2.9B. Turkish, Indian and Chinese supplies comprise approximately 79% of American carpet and rug imports. In 2020, most of the import increment was provided by boosting purchases from Turkey, India, Egypt and Vietnam. Vietnam became the fastest-growing exporter of carpets and rugs to the U.S.

American Carpet and Rug Imports by Country

In 2020, carpet and rug imports into the U.S. expanded rapidly to 796K tonnes, surging by +11% compared with 2019 figures. In value terms, carpet and rug imports rose by +1.9% y-o-y to $2.9B (IndexBox estimates) in 2020.

Turkey (275K tonnes), India (224K tonnes) and China (127K tonnes) were the main suppliers of carpets and rugs to the U.S., together accounting for 79% of total imports. Egypt, Vietnam, Canada and Mexico lagged somewhat behind, together comprising a further 14%.

In 2020, supplies from Turkey (+71K tonnes), India (+15K tonnes), Egypt (+10K tonnes) and Vietnam (+20K tonnes) increased significantly. Vietnam recorded the highest growth rate of the volume of imports, expanding supplies to the U.S. from 12K tonnes to 32K tonnes last year.

In value terms, India ($904M), Turkey ($899M) and China ($377M) were the largest carpet and rug suppliers to the U.S., with a combined 75% share of total imports. These countries were followed by Egypt, Vietnam, Mexico and Canada, which together accounted for a further 12%.

Source: IndexBox Platform