Iran: Cotton Bag Market 2024

Cotton Bag Market Size in Iran

In 2021, the Iranian cotton bag market decreased by -3.3% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.5% against 2016 indices. Over the period under review, the market attained the peak level at $X in 2020, and then declined modestly in the following year.

Cotton Bag Production in Iran

In value terms, cotton bag production declined modestly to $X in 2021 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.4% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 43% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined slightly in the following year.

Cotton Bag Exports

Exports from Iran

Cotton bag exports from Iran surged to X kg in 2021, rising by 20% on the previous year's figure. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 462% against the previous year. As a result, the exports reached the peak of X kg. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton bag exports soared to $X in 2021. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 266%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X kg) was the main destination for cotton bag exports from Iran, accounting for a 60% share of total exports. Moreover, cotton bag exports to Germany exceeded the volume sent to the second major destination, Austria (X kg), fourfold. The third position in this ranking was held by Sweden (X kg), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +94.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+102.0% per year) and Sweden (+21.3% per year).

In value terms, the largest markets for cotton bag exported from Iran were Germany ($X), Austria ($X) and Sweden ($X), with a combined 65% share of total exports.

In terms of the main countries of destination, Austria, with a CAGR of +84.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2021, jumping by 33% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton bag export price decreased by -7.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 110%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Germany ($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 Azerbaijan (+33.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Bag Imports

Imports into Iran

In 2021, approx. X tons of sacks and bags of cotton were imported into Iran; shrinking by -33.7% compared with 2020 figures. Overall, imports recorded a significant decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 89% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cotton bag imports contracted to $X in 2021. Over the period under review, imports recorded a precipitous slump. The pace of growth was the most pronounced in 2016 with an increase of 7.3% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of cotton bag to Iran, with a 71% share of total imports. Moreover, cotton bag imports from Thailand exceeded the figures recorded by the second-largest supplier, Nepal (X kg), threefold. The third position in this ranking was taken by China (X kg), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Nepal (-1.7% per year) and China (-34.4% per year).

In value terms, Nepal ($X), Thailand ($X) and China ($X) were the largest cotton bag suppliers to Iran, with a combined 94% share of total imports.

Nepal, with a CAGR of +2.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2021, growing by 37% against the previous year. Over the period under review, the import price enjoyed mild growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 94%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Nepal ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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