Greece: Cotton Fabric Market 2024

Cotton Fabric Market Size in Greece

In 2021, the Greek cotton fabric market decreased by -7.3% to $X, falling for the third consecutive year after four years of growth. Overall, consumption showed a noticeable setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Cotton Fabric Production in Greece

In value terms, cotton fabric production declined to $X in 2021 estimated in export price. Overall, production showed a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. Cotton fabric production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Cotton Fabric Exports

Exports from Greece

Cotton fabric exports from Greece skyrocketed to X tons in 2021, picking up by 42% on the year before. Overall, exports recorded prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 73%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton fabric exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 30%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for cotton fabric exports from Greece, accounting for a 54% share of total exports. Moreover, cotton fabric exports to Italy exceeded the volume sent to the second major destination, Bulgaria (X tons), fourfold. Albania (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy totaled +83.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-6.0% per year) and Albania (+6.4% per year).

In value terms, the largest markets for cotton fabric exported from Greece were Italy ($X), Bulgaria ($X) and Albania ($X), together comprising 58% of total exports.

Italy, with a CAGR of +55.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton fabric export price stood at $X per ton in 2021, which is down by -14.7% against the previous year. Over the period under review, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 54% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the 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 Romania ($X per ton), while the average price for exports to Italy ($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 Romania (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Greece

In 2021, approx. X tons of woven fabrics of cotton were imported into Greece; increasing by 11% compared with the year before. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.1% against 2017 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 34%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton fabric imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Pakistan (X tons) and Turkey (X tons) were the main suppliers of cotton fabric imports to Greece, with a combined 69% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +13.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Pakistan ($X) and Italy ($X) were the largest cotton fabric suppliers to Greece, together accounting for 59% of total imports. Turkey, Spain, Bulgaria, the Netherlands, Germany, Israel and India lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Bulgaria, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cotton fabric import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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