Turkey's Cotton Textile Export Experiences a 4% Decrease, Totaling $69M in November 2023.

Turkey Cotton Fabric Exports

In November 2023, exports of woven fabrics of cotton from Turkey was estimated at 48M square meters, almost unchanged from the previous month. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 with an increase of 36% month-to-month. As a result, the exports attained the peak of 57M square meters. From October 2023 to November 2023, the growth of the exports failed to regain momentum.

In value terms, cotton fabric exports shrank modestly to $69M (IndexBox estimates) in November 2023. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when exports increased by 38% m-o-m. As a result, the exports attained the peak of $85M. From October 2023 to November 2023, the growth of the exports remained at a lower figure.

Exports by Country

Italy (4.9M square meters), Tunisia (4.1M square meters) and Egypt (3M square meters) were the main destinations of cotton fabric exports from Turkey, together comprising 25% of total exports. Spain, Morocco, Serbia and Romania lagged somewhat behind, together comprising a further 17%.

From November 2022 to November 2023, the biggest increases were in Serbia (with a CAGR of +3.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton fabric exported from Turkey were Tunisia ($7.8M), Italy ($5.6M) and Egypt ($4.9M), with a combined 27% share of total exports. These countries were followed by Morocco, Spain, Serbia and Romania, which together accounted for a further 18%.

In terms of the main countries of destination, Serbia, with a CAGR of +3.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 (22M square meters), woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (19M square meters) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 (4.4M square meters) were the main products of cotton fabric exports from Turkey, together accounting for 93% of total exports.

From November 2022 to November 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 (with a CAGR of +2.1%), while the other products experienced more modest paces of growth.

In value terms, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 ($30M), woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 ($20M) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 ($11M) constituted the most exported types of woven fabrics of cotton from Turkey worldwide, with a combined 87% share of total exports. Woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 and other woven fabrics of cotton, n.e.s. in chapter 52 lagged somewhat behind, together comprising a further 13%.

In terms of the main product categories, woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2, with a CAGR of +1.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced a decline.

Export Prices by Country

In November 2023, the cotton fabric price stood at $1.4 per square meter (FOB, Turkey), waning by -4.6% against the previous month. In general, the export price showed a slight decline. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 4.6% against the previous month. As a result, the export price reached the peak level of $1,699 per thousand square meters. From January 2023 to November 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Bangladesh ($2.1 per square meter), while the average price for exports to Belgium ($526 per thousand square meters) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform