Chile: Cotton Yarn Market 2024

Cotton Yarn Market Size in Chile

In 2022, after two years of growth, there was significant decline in the Chilean cotton yarn market, when its value decreased by -22% to $X. In general, consumption, however, posted buoyant growth. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Cotton Yarn Production in Chile

In value terms, cotton yarn production contracted to $X in 2022 estimated in export price. In general, production faced a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 4.7%. Cotton yarn production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cotton Yarn Exports

Exports from Chile

In 2022, overseas shipments of cotton yarn increased by 64% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a noticeable decline. The pace of growth was the most pronounced in 2014 with an increase of 503% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton yarn exports skyrocketed to $X in 2022. Overall, exports, however, saw a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of 207%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for cotton yarn exports from Chile, with a 92% share of total exports. Moreover, cotton yarn exports to Peru exceeded the volume sent to the second major destination, Bolivia (X tons), more than tenfold. The third position in this ranking was taken by Brazil (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-25.5% per year) and Brazil (+25.8% per year).

In value terms, Peru ($X) remains the key foreign market for cotton yarn exports from Chile, comprising 91% of total exports. The second position in the ranking was held by Bolivia ($X), with a 7.9% share of total exports. It was followed by Brazil, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Peru amounted to +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-19.2% per year) and Brazil (+9.4% per year).

Export Prices by Country

The average cotton yarn export price stood at $X per ton in 2022, surging by 8.8% against the previous year. Over the period under review, the export price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2020 an increase of 152%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Chile

In 2022, after two years of growth, there was significant decline in overseas purchases of cotton yarn, when their volume decreased by -39.3% to X tons. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, cotton yarn imports reduced dramatically to $X in 2022. Overall, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 85%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

India (X tons), Vietnam (X tons) and Indonesia (X tons) were the main suppliers of cotton yarn imports to Chile, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +45.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Vietnam ($X) and Indonesia ($X) were the largest cotton yarn suppliers to Chile, together comprising 85% of total imports.

Vietnam, with a CAGR of +49.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton yarn import price stood at $X per ton in 2022, jumping by 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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