Turkey’s Carpet Exports Experience Decline, Reaching $2.8 Billion in 2024

0
Turkey's Carpet Exports Experience Decline, Reaching $2.8 Billion in 2024

Turkey’s carpet exports saw a 9.1% decline in volume in 2024, with total exports reaching 497 million square meters. While the industry experienced steady growth over the past decade with an average annual growth rate of 4.2%, recent years have shown fluctuations, leading to an overall 18.9% decrease since its peak in 2021. The total value of exports also dropped to $2.5 billion, reflecting a challenging market environment.

Key Export Destinations

The United States, Iraq, and Saudi Arabia remained Turkey’s top three carpet export markets, accounting for 45% of total shipments. The United States led the market with 124 million square meters of imports, followed by Iraq (66 million square meters) and Saudi Arabia (58 million square meters).

In value terms, the United States dominated with $814 million in imports, making up 29% of Turkey’s total carpet exports. Saudi Arabia ranked second with $267 million (9.7%), while Iraq accounted for $192 million (6.9%). The United States also recorded the highest annual growth rate at 12.5% over the last decade, while Saudi Arabia and Iraq experienced declines of -3.6% and -0.4%, respectively.

Types of Carpets Exported

Woven carpets and other woven textile coverings remained Turkey’s primary export product, accounting for 72% of total exports (364 million square meters). The second-largest category was tufted carpets and other tufted textile floor coverings at 140 million square meters, followed by knotted carpets.

  • Woven carpets ($2 billion in value, 76% of total exports) – Growth remained modest over the past decade.
  • Tufted carpets ($541 million, 21% share) – Recorded an average annual growth rate of 10%.
  • Knotted carpets saw a 5.2% annual decline in value.

Export Prices and Market Trends

The average export price per square meter of carpets from Turkey in 2024 was $5.1, reflecting a 2.9% decrease from the previous year. The highest-priced carpets were exported to the United States ($6.6 per square meter), while the lowest-priced shipments went to Mauritania ($2.4 per square meter). Overall, export prices have seen a gradual decline since 2014, when they peaked at $7.1 per square meter.

Turkey’s carpet industry continues to navigate a shifting global market, with competition, economic pressures, and price fluctuations affecting overall exports. The industry remains a key player in global carpet exports, though strategies for modernization and market diversification will be critical for sustained growth.

LEAVE A REPLY

Please enter your comment!
Please enter your name here