ASEAN: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in ASEAN

In 2022, after four years of decline, there was significant growth in the ASEAN jute and jute-like fibers market, when its value increased by X% to $X. Overall, consumption, however, saw a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Jute And Jute-Like Fibers in ASEAN

In value terms, jute and jute-like fibers production fell significantly to $X in 2022 estimated in export price. In general, production, however, saw a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Exports of Jute And Jute-Like Fibers

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas shipments of jute and jute-like fibers, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, jute and jute-like fibers exports soared to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, Indonesia (X tons) represented the key exporter of jute and jute-like fibers, generating X% of total exports. Malaysia (X tons) took the second position in the ranking, followed by Vietnam (X tons) and Myanmar (X tons). All these countries together took approx. X% share of total exports. Lao People's Democratic Republic (X tons) held a relatively small share of total exports.

Indonesia was also the fastest-growing in terms of the jute and jute-like fibers exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Lao People's Democratic Republic (X%), Myanmar (X%) and Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Malaysia increased by X and X percentage points, respectively.

In value terms, Indonesia ($X) remains the largest jute and jute-like fibers supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

In Indonesia, jute and jute-like fibers exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by X% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Imports of Jute And Jute-Like Fibers

Imports in ASEAN

In 2022, supplies from abroad of jute and jute-like fibers increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, showed a deep contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep contraction. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) was the main importer of jute and jute-like fibers, achieving X% of total imports. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%) and Myanmar (X%). The following importers - the Philippines (X tons) and Malaysia (X tons) - each amounted to a X% share of total imports.

Imports into Indonesia increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%), Vietnam (X%) and Thailand (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.), Myanmar (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported jute and jute-like fibers in ASEAN, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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