Mexico: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Mexico

The Mexican non-cotton terry towelling market declined to $X in 2021, shrinking by -14.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a strong increase. Non-cotton terry towelling consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Non-Cotton Terry Towelling Exports

Exports from Mexico

In 2021, exports of terry towelling (excluding of cotton) from Mexico dropped to X square meters, declining by -11.1% against the previous year. In general, exports showed a precipitous descent. The pace of growth appeared the most rapid in 2019 when exports increased by 203% against the previous year. Over the period under review, the exports reached the peak figure at X square meters in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, non-cotton terry towelling exports shrank significantly to $X in 2021. Over the period under review, exports continue to indicate a precipitous setback. The pace of growth appeared the most rapid in 2013 with an increase of 175% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X square meters) was the main destination for non-cotton terry towelling exports from Mexico, accounting for a 75% share of total exports. Moreover, non-cotton terry towelling exports to the Dominican Republic exceeded the volume sent to the second major destination, the United States (X square meters), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic stood at -9.7%.

In value terms, the United States ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from Mexico, comprising 91% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-20.6% per year) and Honduras (-43.3% per year).

Export Prices by Country

In 2021, the average non-cotton terry towelling export price amounted to $X per square meter, falling by -27.3% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2020 an increase of 70%. As a result, the export price attained the peak level of $X per square meter, and then declined dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Honduras ($X per square meter), while the average price for exports to the Dominican Republic ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+53.6%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cotton Terry Towelling Imports

Imports into Mexico

In 2021, overseas purchases of terry towelling (excluding of cotton) decreased by -14.4% to X square meters, falling for the third year in a row after seven years of growth. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 178%. Over the period under review, imports attained the maximum at X square meters in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, non-cotton terry towelling imports declined to $X in 2021. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 178% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest non-cotton terry towelling supplier to Mexico, accounting for a 90% share of total imports. Moreover, non-cotton terry towelling imports from China exceeded the figures recorded by the second-largest supplier, the United States (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +53.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.9% per year) and South Korea (+55.2% per year).

In value terms, China ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Mexico, comprising 84% of total imports. The second position in the ranking was held by the United States ($X), with a 5.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +47.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-18.4% per year) and South Korea (+49.4% per year).

Import Prices by Country

The average non-cotton terry towelling import price stood at $X per square meter in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of 47% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :