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Global cotton yarn import growing since 2016

Global cotton yarn import growing since 2016

Since 2016, global cotton yarn import has been increasing at a modest growth rate. The global cotton yarn import was increased from $10,987.16 million in 2016 to $12,285.94 million in 2018 with a growth rate of 11.82 per cent. The overall cotton yarn import was surged by 5.39 per cent in 2018 over the previous year, according to data from TexPro.

The overall cotton yarn import is anticipated to reach $14,527.56 million in 2021 growing with a CAGR of 5.74 per cent from 2018, according to Fibre2Fashion’s market analysis tool TexPro.

In terms of volume, the global cotton yarn import was 4,217.06 thousand tonnes in 2016, which increased to 4,600.37 thousand tonnes in 2018 with a growth rate of 9.09 per cent. The overall cotton yarn import increased by 4.60 per cent in 2018 over the cotton yarn import in 2017. It is expected to stand at 5,241.65 thousand tonnes in 2021 with a CAGR of 4.45 per cent from 2018.

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 importers of cotton yarn across the globe, together comprising 76.42 per cent of total imports. These were followed by Turkey (188.75 thousand tonnes), Hong Kong (139.59 thousand tonnes) and Taiwan (130.98 thousand tonnes).

From 2013 to 2018, the most notable rate of growth in terms of import, amongst the main importing 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), Hong Kong ($617.95 million), Indonesia ($606.17 million) and Turkey ($590.87 million) were the key importers of cotton yarn across the globe in 2018, together comprising 83.23 per cent of total import. 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 import, amongst the main importing countries, was attained by Turkey (26.83 per cent) and Indonesia (23.05 per cent).

 

Also Read: Global cotton yarn exports increasing from 2017

About Kohan Journal

Kohan Textile Journal is the leading magazine for the Textile industry, Textile machinery, Synthetic Fibers and Nonwovens in MENA region (the Middle East and North Africa) and is published every two months. It basically emphasizes on textile machinery, textile products, carpet and synthetic fibres distributed among the factories, manufacturers, and traders of floorcovering industries.l

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