Mexico: Cotton Yarn Market 2024

Cotton Yarn Market Size in Mexico

The Mexican cotton yarn market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, recorded a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 4% against the previous year. Cotton yarn consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cotton Yarn Production in Mexico

In value terms, cotton yarn production declined modestly to $X in 2022 estimated in export price. In general, production saw a deep slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 6.3% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cotton Yarn Exports

Exports from Mexico

Cotton yarn exports from Mexico shrank sharply to X tons in 2022, which is down by -29.1% against the year before. Overall, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 596% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cotton yarn exports dropped to $X in 2022. In general, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by 438% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons), Honduras (X tons) and the United States (X tons) were the main destinations of cotton yarn exports from Mexico, together comprising 94% of total exports. Colombia, Peru and the Dominican Republic lagged somewhat behind, together comprising a further 5.8%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +23.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), the United States ($X) and El Salvador ($X) constituted the largest markets for cotton yarn exported from Mexico worldwide, together accounting for 92% of total exports.

Among the main countries of destination, El Salvador, with a CAGR of +16.9%, recorded 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

In 2022, the average cotton yarn export price amounted to $X per ton, surging by 25% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton yarn export price decreased by -3.3% against 2020 indices. The growth pace was the most rapid in 2020 when the average export price increased by 28%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Mexico

For the fourth consecutive year, Mexico recorded decline in overseas purchases of cotton yarn, which decreased by -31.9% to X tons in 2022. In general, imports saw a dramatic contraction. The pace of growth appeared the most rapid in 2018 with an increase of 8.8%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton yarn imports shrank remarkably to $X in 2022. Over the period under review, imports showed a sharp downturn. The pace of growth was the most pronounced in 2018 when imports increased by 11%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cotton yarn to Mexico, with a 67% share of total imports. Moreover, cotton yarn imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.0% per year) and Spain (-11.4% per year).

In value terms, the United States ($X) constituted the largest supplier of cotton yarn to Mexico, comprising 66% of total imports. The second position in the ranking was taken by India ($X), with a 21% share of total imports. It was followed by Spain, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.2% per year) and Spain (-14.5% per year).

Import Prices by Country

The average cotton yarn import price stood at $X per ton in 2022, increasing by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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