GCC: Market for Cotton (Carded Or Combed) 2024

Market Size for Cotton (Carded Or Combed) in GCC

In 2022, the GCC cotton (carded or combed) market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, faced a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Cotton (Carded Or Combed) in GCC

In value terms, cotton (carded or combed) production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The growth pace was the most rapid in 2016 with an increase of 1,151%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Cotton (Carded Or Combed)

Exports in GCC

In 2022, shipments abroad of cotton (carded or combed) decreased by -18.9% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, saw a measured increase. The pace of growth appeared the most rapid in 2018 when exports increased by 76%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton (carded or combed) exports contracted to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 75%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Bahrain (X tons) was the largest exporter of cotton (carded or combed), achieving 75% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a 23% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the cotton (carded or combed) exports, with a CAGR of +12.6% from 2012 to 2022. At the same time, Saudi Arabia (+3.1%) displayed positive paces of growth. By contrast, the United Arab Emirates (-7.4%) illustrated a downward trend over the same period. Bahrain (+44 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -43.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) remains the largest cotton (carded or combed) supplier in GCC, comprising 73% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports.

In Bahrain, cotton (carded or combed) exports expanded at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-8.3% per year) and Saudi Arabia (-1.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 9.7% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2019 when the export price increased by 27% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Cotton (Carded Or Combed)

Imports in GCC

In 2022, purchases abroad of cotton (carded or combed) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 1,469% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton (carded or combed) imports skyrocketed to $X in 2022. Over the period under review, imports, however, faced a deep slump. The pace of growth was the most pronounced in 2017 with an increase of 841% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, recording X tons, which was near 90% of total imports in 2022. It was distantly followed by Kuwait (X tons), achieving a 4.6% share of total imports. Oman (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cotton (carded or combed) imports into the United Arab Emirates stood at -18.3%. Oman (-6.7%), Qatar (-15.1%) and Kuwait (-15.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+8.6 p.p.), Oman (+2.4 p.p.) and Kuwait (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cotton (carded or combed) in GCC, comprising 84% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 12% share of total imports. It was followed by Qatar, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -16.4%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-4.6% per year) and Qatar (-15.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, reducing by -41.3% against the previous year. Over the period under review, the import price, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2021 an increase of 98% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+12.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform