Cuba: Wadding Market 2025

Wadding Market Size in Cuba

In 2021, after two years of growth, there was significant decline in the Cuban wadding market, when its value decreased by -15.4% to $X. In general, consumption recorded a noticeable slump. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Wadding Production in Cuba

In value terms, wadding production contracted sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2020 when the production volume increased by 50% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Wadding Exports

Exports from Cuba

After two years of decline, shipments abroad of wadding decreased by 0% to X kg in 2017. In general, exports showed significant growth. The smallest decline of 99.9% was in 2015. Over the period under review, the exports attained the peak figure in 2017 and are expected to retain growth in the near future.

In value terms, wadding exports amounted to $X in 2017. Overall, exports enjoyed a significant increase. The smallest decline of 99.9% was in 2015. The exports peaked in 2017 and are likely to see steady growth in the near future.

Exports by Country

Switzerland (X kg) was the main destination for wadding exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2017, the average annual rate of growth in terms of volume to Switzerland was relatively modest.

From 2012 to 2017, the average annual growth rate of value to Switzerland was relatively modest.

Export Prices by Country

The average wadding export price stood at $X per ton in 2017, flattening at the previous year. In general, the export price showed strong growth. The growth pace was the most rapid in 2015 a decrease of 99.9%. Over the period under review, the average export prices reached the peak figure in 2017 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2012 to 2017, the rate of growth in terms of prices for Jamaica amounted to +10.4% per year.

Wadding Imports

Imports into Cuba

For the fifth consecutive year, Cuba recorded growth in supplies from abroad of wadding, which increased by 21% to X tons in 2021. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 169%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, wadding imports declined sharply to $X in 2021. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 393%. Over the period under review, imports hit record highs at $X in 2020, and then fell sharply in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wadding to Cuba, with a 79% share of total imports. Moreover, wadding imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +60.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+118.2% per year) and Spain (+5.8% per year).

In value terms, China ($X) constituted the largest supplier of wadding to Cuba, comprising 80% of total imports. The second position in the ranking was taken by Turkey ($X), with a 5.7% share of total imports. It was followed by Spain, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +78.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+107.2% per year) and Spain (+42.0% per year).

Import Prices by Country

In 2021, the average wadding import price amounted to $X per ton, waning by -33% against the previous year. Over the period under review, the import price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 84%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+42.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform