Eastern Asia: Cotton Fabric Market 2024

Cotton Fabric Market Size in Eastern Asia

The East Asian cotton fabric market declined to $X in 2021, which is down by -13.3% against the previous year. Overall, consumption continues to indicate a mild slump. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Cotton Fabric Production in Eastern Asia

In value terms, cotton fabric production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 7.7%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Cotton Fabric Exports

Exports in Eastern Asia

In 2021, approx. X tons of woven fabrics of cotton were exported in Eastern Asia; jumping by 20% on the year before. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.1% against 2017 indices. The pace of growth was the most pronounced in 2016 when exports increased by 83% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton fabric exports soared to $X in 2021. The total export value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 24%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, amounting to X tons, which was approx. 93% of total exports in 2021. The following exporters - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - together made up 4.4% of total exports.

China was also the fastest-growing in terms of the woven fabrics of cotton exports, with a CAGR of +4.2% from 2012 to 2021. Taiwan (Chinese) (-2.9%) and Hong Kong SAR (-6.3%) illustrated a downward trend over the same period. While the share of China (+6.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cotton fabric supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 3.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +2.0%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-8.0% per year) and Taiwan (Chinese) (-2.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 3.3% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2014 an increase of 45% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the other leaders experienced a decline in the export price figures.

Cotton Fabric Imports

Imports in Eastern Asia

After two years of decline, supplies from abroad of woven fabrics of cotton increased by 3.6% to X tons in 2021. Over the period under review, imports, however, continue to indicate a slight decrease. The growth pace was the most rapid in 2015 when imports increased by 73% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, cotton fabric imports rose notably to $X in 2021. Overall, imports, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2015 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of cotton fabric imports in 2021 were South Korea (X tons), China (X tons) and Hong Kong SAR (X tons), together resulting at 84% of total import. It was distantly followed by Japan (X tons), comprising a 13% share of total imports. Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +3.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest cotton fabric importing markets in Eastern Asia were China ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined 84% share of total imports.

South Korea, with a CAGR of -0.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 10% against the previous year. Overall, the import price, however, saw a pronounced descent. The pace of growth was the most pronounced in 2014 when the import price increased by 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Hong Kong SAR ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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