In this article, we look at the 13 largest handicraft exporting countries in the world. If interested, you can also read our piece on the 15 Largest Textile Exporting Countries in the World.
According to a recent report, the global handicraft market size was valued at over $1 trillion in 2023. Asia-Pacific dominates the market holding 36.3% of the overall share, followed by North America with an increasing import volume of handicrafts from Asian countries. The industry is forecast to reach $2.39 trillion in size by 2032 at a CAGR of 10.11%, driven by the rising trend of home décor and international travel recovering back to pre-pandemic levels.
Homeowners are increasingly investing in personalizing and improving their living spaces. A report by the Harvard Joint Center for Housing Studies states that American households had spent over $150 billion since 2019 on rejuvenating their homes. Moreover, the rise of the Do-It-Yourself (DIY) culture in the United States has also gained popularity, resulting in many individuals taking it upon themselves to personalize their homes. On the other hand, the increase in international travel has led to a spike in demand for handicrafts. Tourists often seek locally-made artifacts, souvenirs, and products to take back from the countries they are visiting.
Handicraft Market in the United States
The handicraft market size in the United States reached $294 billion in 2023 and is expected to go past the $600 billion mark in 2032, as interest in diverse traditions, craftsmanship, and cultural appreciation grows. Etsy, Inc. (NASDAQ:ETSY) is one of the leading players in the American market. The e-commerce firm sells handmade, vintage, and crafts items such as craft supplies, jewelry, artwork, bags, clothes, decor items, and more. The company conducts craft fairs, allowing sellers to set up storefronts at the cost of a specified fee per item.
As of 2024, Etsy, Inc. (NASDAQ:ETSY) has over 96 million active buyers, 9 million sellers, and more than 100 million items available for sale. In 2023, the company posted a gross merchandise sale (GMS) of $13.2 billion, while its revenue of $2.7 billion was 7% higher compared to last year. During the first quarter of 2024, Etsy, Inc. (NASDAQ:ETSY) narrowly missed Wall Street’s GMS and earnings expectations, due to lower demand for handcrafted goods on its marketplace and increased competition from smaller rival platforms such as Temu. Its EPS was recorded at 48 cents, against forecasts of 49 cents.
Despite the dip, investors remain confident about the company’s long-term potential. ClearBridge Mid Cap Strategy stated the following regarding Etsy, Inc. (NASDAQ:ETSY) in its first quarter 2024 investor letter:
Online marketplace Etsy, Inc. (NASDAQ:ETSY) also saw weaker performance as consumer preferences for goods lagged market expectations. However, we think there is substantial opportunity for the company to reaccelerate growth and increase margins as it extracts greater economic rents from its two-sided marketplace for artisanal goods due to commanding market share, lack of direct competition and support from new activist investors.
Another major player in the handicrafts market is Amazon.com, Inc. (NASDAQ:AMZN), the leading online retailer in the United States, with more than 2.5 billion visitors every month. In 2015, the company launched Amazon Handmade for businesses specializing in handcrafted products. Amazon.com, Inc. (NASDAQ:AMZN) does not publicize financials about the platform, but on its 5th anniversary in 2020, it announced that more than 100 makers on Amazon Handmade had crossed annual sales worth $1 million.
The company also stated that during this period, the number of active Amazon Handmade makers had increased by 750%, while its worldwide selection rose by 2000%. One of the benefits that sellers experience on Amazon Handmade is the massive potential reach considering that Amazon is one of the most visited websites in the US. Moreover, Amazon.com, Inc. (NASDAQ:AMZN) does not charge any listing fees either, and you only pay if you make a sale.
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Methodology
The largest handicraft exporting countries in the world are ranked in ascending order of their export trade volume. Data has been sourced from multiple independent news sources for each country since there is no aggregated handicraft export data available for countries. Moreover, we have considered figures for the latest year for which export volume numbers were available for each country.
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Let’s now head over to the list of the largest handicraft exporting countries in the world.
13 Largest Handicraft Exporting Countries in the World:
13. Colombia
Export Volume: $6.5 million
Colombian handicrafts, steeped in tradition and culture, are conquering the global market because of their high quality and uniqueness. These handmade goods are produced with ancestral Colombian techniques that represent the culture and beliefs of the Colombian people. Several materials, including vegetable fiber, ceramics, and marble go into the development process of these handicrafts whose demand has surged in recent years. The country exported handicrafts worth $6.5 million in 2023, which was 13% higher year-over-year, and more than double compared to the levels in 2020.
12. Thailand
Export Volume: $9.4 million
According to the Sustainable Arts and Crafts Institute of Thailand (SACIT), Thai handicraft exports in 2023 were measured at 340 million baht, equivalent to $9.4 million. Products with the highest export value were gold ornaments, silverware, furniture, travel equipment, and textiles. The United States was the biggest market for Thailand’s handicraft exports, comprising 27% of all exports, followed by Hong Kong, Japan, Germany, and the United Kingdom. The government in Bangkok has urged SACIT to make handicrafts more commercially viable, ensure their international recognition, and help in advancing the country’s soft power.
11. Kenya
Export Volume: $15 million
The first thing that comes to mind when you think about Kenya is the country’s wildlife and safaris. However, the African nation is also rich in traditional arts and crafts. Musical instruments, jewelry items such as necklaces, and bracelets made with beads, woodcarvings, and soapstones are among the popular handicrafts exported by Kenya and are sold across the world, including the United States and Europe. With an export volume of $15 million in 2021, it is one of the largest handicraft exporting countries in the world.
10. Bangladesh
Export Volume: $29.75 million
Bangladesh is one of the largest handicraft exporting countries in the world, with its export volume recorded at $29.75 million in 2023. According to the Industrial Development Leasing Company of Bangladesh Limited (IDLC), around 80% of these handicrafts were exported to countries in Europe and included items such as nakshi kanthas (embroidered quilts), sheetal patis (mats with decorative designs), jute crafts, bamboo-made products, silk and cotton apparel, as well as local jewelry.
9. Ghana
Export Volume: $30.6 million
Ghana is well known for its handicrafts, especially the kente cloth which is made with silk, cotton, and interwoven strips. Locally-made sculptures and masks are also popular across the country and sold in several neighboring countries, including Ivory Coast, Mali, Togo, and Benin. With an export volume over $30 million in 2021, Ghana is one of the largest handicraft exporting countries in the world.
8. Sri Lanka
Export Volume: $62.28 million
Sri Lanka’s handicraft products combine modern and traditional items that offer utility and beauty and are produced by expertly skilled artisans. During 2023, the country’s handicraft exports were measured at over $62 million, with the United States, India, France, and the United Kingdom being the top destinations. Nearly two-thirds of the figure was contributed by wooden toys, while copper-based articles, bath and spa products, and ceramic ornaments also remained in high global demand.
7. Mexico
Export Volume: $83 million
Mexico is one of the largest handicraft exporting countries in the world, with an export trade volume of $83 million. The United States is the major export destination for Mexican handicraft exports, accounting for close to 90% of all exports in the segment, followed by Canada, the United Kingdom, and Germany. Talavera handicrafts, originating from Puebla, are used for table decorative purposes and are among the most popular Mexican handicraft exports to these countries. Other pieces of handmade art exported by Mexico to these countries include embroidered blouses, mythical sculptures called Alebrijes, silver jewelry, and hats.
6. Pakistan
Export Volume: $300 million
The handicraft industry of Pakistan contributes significantly to income and employment generation in the country, with products worth around $300 million exported last year. The country produces a variety of traditional handicrafts, such as pottery, beadwork, embroidery, stone carving, jewelry, and woodcraft. Some of these products have a history of dating over 5,000 years back and have been enriched by the movement of Persians, Arabs, and Greeks through this land who have added to the diversity of these items. Handicrafts are produced across the country, with each region having its uniqueness reflected in the artwork.
5. South Africa
Export Volume: $316 million
The United States, Europe, and regional countries in Africa are the major destinations for South Africa’s handicraft exports, which include products such as jewelry, textiles, home decor items, beaded products, and baskets. With an export trade volume of $316 million in 2021, it is one of the largest handicraft exporting countries in the world. The figure, however, has come down from 2018 when it was estimated at close to $450 million. The decrease in South Africa’s export of handicrafts was attributed to the coronavirus pandemic which resulted in a supply chain collapse in the industry.
4. Philippines
Export Volume: $500 million
The Philippines is one of the largest handicraft exporting countries in the world, with popular demand across the world for its beadwork, tribal jewelry, wood figurines, ceramic pots, mats, and posters. In 2023, the country had an export volume of $500 million, but the government is anticipating a drop of 20% in 2024 as a result of the Philippines losing some of its handicrafts market to Indonesia.
3. Vietnam
Export Volume: $3.5 billion
There are over 2,000 recognized handicraft villages in Vietnam that produce goods from various sub-categories, such as silversmithing, bamboo weaving, pottery, rattan, inlay, and wood crafts. The local industry employs at least 2 million Vietnamese, with an export value of roughly $3.5 billion each year. Vietnam’s handicrafts are exported to more than 163 countries across the world. Being a member of the WTO, the country benefits from declined duty levied on its handicraft exports, which serves as an added advantage to the local industry.
2. India
Export Volume: $3.6 billion
India is one of the largest handicraft exporting countries in the world, with an export trade volume of $3.6 billion during FY2023. The country is a clear market leader when it comes to the homemade carpets segment, representing 37% of its overall handicraft exports, and accounting for 40% of all handmade carpets exported in the world. Other prominent handicraft items exported by India include handmade woolen, hand-printed textiles & scarves, woodwares, jewelry, and incense sticks called agarabattis.
1. China
Export Volume: $5 billion +
While there is a scarcity of information on the export volume of Chinese handicrafts, there is consensus among most industry experts that it is the largest handicraft exporting country in the world, with an estimated trade volume of more than $5 billion. These handicrafts are mainly exported by Beijing to the United States, Japan, South Korea, India, and Europe. Handmade rugs, silk embroidery, lamps, bracelets, jewelry, woodware, glass mirrors, and table and kitchen accessories, are among the country’s top handicraft exports. Chinese crafts are also popular among tourists who visit the country, with an estimated $500 million worth of handicrafts sold annually to tourists who wish to take souvenirs back home from their journey.
At Insider Monkey, we delve into a variety of topics, ranging from handicraft exports to other business aspects in the industry; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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