Jute Market - The United Republic of Tanzania is the Strongest Jute Exporter in the World Fibre Crops September 28, 2015
Author: Alexander Romanenko
Chief Executive Officer

jute market

The United Republic of Tanzania dominates in the global jute trade. In 2014, the United Republic of Tanzania exported 18 thousand tonnes of jute totaling 28 million USD, 54% over the previous year. Its primary trading partner on the global jute market was China, where it supplied 37% of its total jute exports in value terms, accounting for 56% of China's total imports.

From 2007 to 2014, the United Republic of Tanzania was a net exporter of jute. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was less pronounced, except for 2009-2011, when high import prices made it more notable.

India and Belgium were among the other main global suppliers of jute in 2014. However, the fastest growing exporters from 2007 to 2014 were the United Republic of Tanzania (+94% per year) and Spain (+50% per year). The United Republic of Tanzania significantly strengthened its position in the global export structure.

In 2014, the United Republic of Tanzania's top 5 trading partners were China, Saudi Arabia, Spain, Kenya and Nigeria, with a combined 82% share of the United Republic of Tanzania's jute exports. The share of Saudi Arabia increased significantly (+26 percentage points), while the share of Kenya illustrated negative dynamics (-8 percentage points).

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Source: World: Jute - Market Report. Analysis And Forecast To 2020