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Global cotton yarn exports increasing from 2017

Global cotton yarn exports increasing from 2017

After registering a decline from 2013 to 2016, the global cotton yarn trade has been growing with a high CAGR (compound annual growth rate) from 2017 onwards. In terms of value, the global cotton yarn export was $10.818 billion in 2016, which increased to $12.105 billion in 2018 with a growth rate of 11.90 per cent, according to data from TexPro.

The overall cotton yarn export moved up by 6.98 per cent in 2018 over the previous year, according to Fibre2Fashion’s market analysis tool TexPro. It is anticipated to reach $14.328 billion in 2021 with a CAGR of 5.78 per cent from 2018.

In terms of volume, the global cotton yarn export was 3,481.72 thousand tonnes in 2016 and dropped by 4.22 per cent to 3,628.78 thousand tonnes in 2018. The overall cotton yarn export rose by 4.00 per cent in 2018 over the cotton yarn export in 2017. It is expected to reach 3,861.10 thousand tonnes in 2021 with a CAGR of 2.09 per cent from 2018.

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In 2018, India (1,250.10 thousand tonnes), Pakistan (472.73 thousand tonnes), China (417.12 thousand tonnes), US (416.44 thousand tonnes) and Indonesia (216.80 thousand tonnes) were the key exporters of cotton yarn across the globe, together comprising 76.42 per cent of total exports. These countries were followed by Turkey (188.75 thousand tonnes), Hong Kong (139.59 thousand tonnes), Taiwan (130.98 thousand tonnes), Malaysia (63.18 thousand tonnes) and Spain (45.42 thousand tonnes).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Indonesia (13.94 per cent).

In value terms, India ($3,932.14 million), China ($1,838.58 million), Pakistan ($1,256.60 million), US ($1,232.82 million), Indonesia ($606.17 million), Turkey ($590.87 million) and Hong Kong ($617.95 million) were the key exporters of cotton yarn across the globe in 2018, together comprising 83.23 per cent of total export. These were followed by Italy ($312.16 million), Taiwan ($298.68 million), Malaysia ($161.32 million) and Thailand ($127.26 million).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Turkey (26.83 per cent) and Indonesia (23.05 per cent).

 

Also Read: Wool yarn market to surpass US$ 50 bn in revenues by 2029: PMR study

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