Latin America and the Caribbean: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Latin America and the Caribbean

The Latin American cotton sewing thread market reached $X in 2021, remaining constant against the previous year. Over the period under review, consumption saw a notable increase. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Cotton Sewing Thread Production in Latin America and the Caribbean

In value terms, cotton sewing thread production contracted modestly to $X in 2021 estimated in export price. Overall, production recorded measured growth. The growth pace was the most rapid in 2014 with an increase of 113% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Cotton Sewing Thread Exports

Exports in Latin America and the Caribbean

Cotton sewing thread exports surged to X tons in 2021, rising by 76% against the previous year's figure. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 83%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton sewing thread exports skyrocketed to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Honduras (X tons), distantly followed by Mexico (X tons), the Dominican Republic (X tons) and Guatemala (X tons) were the major exporters of cotton sewing thread, together creating 88% of total exports. Brazil (X tons), El Salvador (X tons) and Haiti (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for El Salvador (with a CAGR of +43.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Mexico ($X) and Brazil ($X) were the countries with the highest levels of exports in 2021, with a combined 70% share of total exports. The Dominican Republic, El Salvador, Guatemala and Haiti lagged somewhat behind, together accounting for a further 24%.

El Salvador, with a CAGR of +41.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -8.1% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 14% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (-0.9%), while the other leaders experienced a decline in the export price figures.

Cotton Sewing Thread Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in supplies from abroad of cotton sewing thread, when their volume increased by 49% to X tons. Over the period under review, imports showed a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 64%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cotton sewing thread imports soared to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The Dominican Republic was the major importing country with an import of about X tons, which resulted at 62% of total imports. It was distantly followed by Guatemala (X tons), making up a 24% share of total imports. The following importers - Ecuador (X tons), Chile (X tons), Mexico (X tons) and Brazil (X tons) - each finished at an 8.5% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cotton sewing thread imports into the Dominican Republic stood at +12.4%. At the same time, Ecuador (+27.7%), Guatemala (+13.5%) and Chile (+8.3%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.7% from 2012-2021. Mexico experienced a relatively flat trend pattern. By contrast, Brazil (-7.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Dominican Republic, Guatemala and Ecuador increased by +18, +8.1 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported cotton sewing thread in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was taken by Guatemala ($X), with a 21% share of total imports. It was followed by Chile, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value in the Dominican Republic totaled +5.7%. In the other countries, the average annual rates were as follows: Guatemala (+15.8% per year) and Chile (+1.1% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, jumping by 28% against the previous year. Overall, the import price, however, continues to indicate a perceptible downturn. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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