Greece: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Greece

The Greek cotton sewing thread market was finally on the rise to reach $X in 2021, after six years of decline. Overall, consumption, however, continues to indicate a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cotton Sewing Thread Production in Greece

In value terms, cotton sewing thread production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt decline. Cotton sewing thread production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Greece

In 2021, approx. X tons of cotton sewing thread were exported from Greece; increasing by 24% compared with the previous year's figure. In general, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 47% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, cotton sewing thread exports expanded markedly to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 38% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Bulgaria (X tons) and Spain (X tons) were the main destinations of cotton sewing thread exports from Greece, with a combined 85% share of total exports. These countries were followed by France, Germany, the United States and Israel, which together accounted for a further 8.2%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +8.9%), while the other leaders experienced a decline.

In value terms, the largest markets for cotton sewing thread exported from Greece were Spain ($X), Bulgaria ($X) and Italy ($X), with a combined 76% share of total exports. The United States, France, Israel and Germany lagged somewhat behind, together comprising a further 16%.

Israel, with a CAGR of +7.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average cotton sewing thread export price amounted to $X per ton, waning by -15.3% against the previous year. Over the period under review, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2014 an increase of 11% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.8%), while the prices for the other major destinations experienced a decline.

Cotton Sewing Thread Imports

Imports into Greece

In 2021, the amount of cotton sewing thread imported into Greece surged to X tons, growing by 123% on the previous year's figure. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 146%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, cotton sewing thread imports skyrocketed to $X in 2021. Over the period under review, imports posted noticeable growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Bulgaria (X tons), China (X tons) and Turkey (X tons) were the main suppliers of cotton sewing thread imports to Greece, together comprising 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +60.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X) constituted the largest supplier of cotton sewing thread to Greece, comprising 53% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by Turkey, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Bulgaria stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.9% per year) and Turkey (+36.4% per year).

Import Prices by Country

In 2021, the average cotton sewing thread import price amounted to $X per ton, picking up by 23% against the previous year. Over the period under review, the import price, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 83% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+45.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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