Latin America and the Caribbean: Market for Cotton (Carded Or Combed) 2025

Market Size for Cotton (Carded Or Combed) in Latin America and the Caribbean

In 2022, the Latin American cotton (carded or combed) market decreased by -4.5% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, enjoyed a buoyant expansion. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Production of Cotton (Carded Or Combed) in Latin America and the Caribbean

In value terms, cotton (carded or combed) production dropped slightly to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 42%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Cotton (Carded Or Combed)

Exports in Latin America and the Caribbean

In 2022, overseas shipments of cotton (carded or combed) increased by 70% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 99% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cotton (carded or combed) exports surged to $X in 2022. In general, exports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by 331% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, recording X tons, which was near 72% of total exports in 2022. El Salvador (X tons) held an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by Costa Rica (8%). Peru (X tons), Panama (X tons), the Dominican Republic (X tons) and Guatemala (X tons) took a minor share of total exports.

Exports from Mexico decreased at an average annual rate of -17.0% from 2012 to 2022. At the same time, El Salvador (+78.2%), Guatemala (+17.5%), Panama (+12.1%) and the Dominican Republic (+11.2%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +78.2% from 2012-2022. Costa Rica experienced a relatively flat trend pattern. By contrast, Peru (-2.6%) illustrated a downward trend over the same period. El Salvador (+8.3 p.p.), Costa Rica (+6.4 p.p.), Panama (+2.5 p.p.), Peru (+2.5 p.p.) and the Dominican Republic (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -22.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest cotton (carded or combed) supplier in Latin America and the Caribbean, comprising 81% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 5.7% share of total exports. It was followed by Costa Rica, with a 4.3% share.

In Mexico, cotton (carded or combed) exports decreased by an average annual rate of -14.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (+68.5% per year) and Costa Rica (+4.5% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 47% against the previous year. Over the period under review, the export price showed moderate growth. The most prominent rate of growth was recorded in 2018 an increase of 117%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a 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 Panama ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+6.3%), while the other leaders experienced more modest paces of growth.

Imports of Cotton (Carded Or Combed)

Imports in Latin America and the Caribbean

In 2022, the amount of cotton (carded or combed) imported in Latin America and the Caribbean reduced to X tons, waning by -10.1% on the previous year. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 64% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cotton (carded or combed) imports surged to $X in 2022. In general, imports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Mexico represented the main importer of cotton (carded or combed) in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near 59% of total imports in 2022. Honduras (X tons) took the second position in the ranking, distantly followed by El Salvador (X tons). All these countries together held approx. 22% share of total imports. The following importers - Chile (X tons), Colombia (X tons), Ecuador (X tons) and Guatemala (X tons) - together made up 12% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cotton (carded or combed) imports into Mexico stood at +5.9%. At the same time, Guatemala (+59.8%), El Salvador (+30.5%), Colombia (+24.1%) and Chile (+2.5%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +59.8% from 2012-2022. By contrast, Ecuador (-4.7%) and Honduras (-10.9%) illustrated a downward trend over the same period. While the share of Mexico (+27 p.p.), El Salvador (+6.5 p.p.), Colombia (+2.8 p.p.) and Guatemala (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Honduras (-31.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Honduras ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, together comprising 70% of total imports. Guatemala, El Salvador, Ecuador and Colombia lagged somewhat behind, together comprising a further 11%.

Guatemala, with a CAGR of +56.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, jumping by 31% against the previous year. Overall, the import price, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2013 when the import price increased by 34% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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