Latin America and the Caribbean: Cotton Yarn Market 2022

Cotton Yarn Market Size in Latin America and the Caribbean

The Latin American cotton yarn market skyrocketed to $X in 2021, rising by 23% against the previous year. In general, consumption, however, saw a mild decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cotton Yarn Production in Latin America and the Caribbean

In value terms, cotton yarn production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 1.3%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cotton Yarn Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of cotton yarn were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cotton yarn exports soared to $X in 2021. In general, exports showed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

El Salvador (X tons) and Mexico (X tons) represented roughly 55% of total exports in 2021. Guatemala (X tons) ranks next in terms of the total exports with a 14% share, followed by Nicaragua (8.6%), Costa Rica (7.3%) and Honduras (5.8%). Brazil (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nicaragua (with a CAGR of +180.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cotton yarn supplying countries in Latin America and the Caribbean were El Salvador ($X), Mexico ($X) and Guatemala ($X), together comprising 66% of total exports. Nicaragua, Costa Rica, Honduras and Brazil lagged somewhat behind, together comprising a further 28%.

Nicaragua, with a CAGR of +209.8%, recorded the highest growth rate of the value of exports, among 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. 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.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Costa Rica ($X per ton) and Brazil ($X per ton), while Honduras ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+10.4%), while the other leaders experienced more modest paces of growth.

Cotton Yarn Imports

Imports in Latin America and the Caribbean

In 2021, the amount of cotton yarn imported in Latin America and the Caribbean surged to X tons, growing by 39% compared with the year before. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cotton yarn imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Honduras (X tons) represented the main importer of cotton yarn, comprising 36% of total imports. The Dominican Republic (X tons) held the second position in the ranking, followed by Guatemala (X tons), Peru (X tons), Colombia (X tons) and El Salvador (X tons). All these countries together took near 55% share of total imports. Brazil (X tons) followed a long way behind the leaders.

Honduras experienced a relatively flat trend pattern with regard to volume of imports of cotton yarn. At the same time, Guatemala (+10.1%), the Dominican Republic (+9.6%), Peru (+7.8%) and Brazil (+1.9%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.1% from 2012-2021. Colombia experienced a relatively flat trend pattern. By contrast, El Salvador (-3.0%) illustrated a downward trend over the same period. While the share of the Dominican Republic (+8 p.p.), Guatemala (+7.2 p.p.) and Peru (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of El Salvador (-3.2 p.p.) and Honduras (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Honduras ($X) constitutes the largest market for imported cotton yarn in Latin America and the Caribbean, comprising 35% of total imports. The second position in the ranking was held by Guatemala ($X), with a 17% share of total imports. It was followed by the Dominican Republic, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Honduras totaled +1.1%. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (+10.1% per year) and the Dominican Republic (-0.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 21% against the previous year. Overall, the import price, however, showed a slight downturn. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Guatemala ($X per ton) and Peru ($X per ton), while the Dominican Republic ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+0.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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