Mexico: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Mexico

The Mexican cotton sewing thread market dropped to $X in 2021, declining by -6.8% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Cotton sewing thread consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Cotton Sewing Thread Production in Mexico

In value terms, cotton sewing thread production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Mexico

In 2021, approx. X tons of cotton sewing thread were exported from Mexico; with an increase of 875% on the year before. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,468%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, cotton sewing thread exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 444%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for cotton sewing thread exports from Mexico, with a 82% share of total exports. Moreover, cotton sewing thread exports to the Dominican Republic exceeded the volume sent to the second major destination, the United States (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic amounted to +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-13.0% per year) and Australia (+89.3% per year).

In value terms, the Dominican Republic ($X) emerged as the key foreign market for cotton sewing thread exports from Mexico, comprising 65% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Dominican Republic totaled +50.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.5% per year) and Australia (+115.8% per year).

Export Prices by Country

In 2021, the average cotton sewing thread export price amounted to $X per ton, declining by -60.3% against the previous year. In general, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 171% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Dominican Republic ($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 Australia (+14.0%), while the prices for the other major destinations experienced a decline.

Cotton Sewing Thread Imports

Imports into Mexico

In 2021, approx. X tons of cotton sewing thread were imported into Mexico; with an increase of 14% on the year before. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 374% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton sewing thread imports skyrocketed to $X in 2021. Overall, imports saw moderate growth. The most prominent rate of growth was recorded in 2015 when imports increased by 229%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of cotton sewing thread to Mexico, accounting for a 68% share of total imports. Moreover, cotton sewing thread imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. The third position in this ranking was taken by Canada (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+72.3% per year) and Canada (+47.3% per year).

In value terms, the United States ($X) constituted the largest supplier of cotton sewing thread to Mexico, comprising 44% of total imports. The second position in the ranking was taken by Canada ($X), with a 21% share of total imports. It was followed by South Korea, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+40.2% per year) and South Korea (+70.4% per year).

Import Prices by Country

The average cotton sewing thread import price stood at $X per ton in 2021, increasing by 7.7% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% 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 sewing thread import price increased by +43.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 44% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Canada ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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