Middle East: Cotton Yarn Market 2022

Cotton Yarn Market Size in the Middle East

In 2021, the Middle Eastern cotton yarn market decreased by -3.2% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the market value increased by 9.9%. Over the period under review, the market attained the maximum level at $X in 2020, and then declined modestly in the following year.

Cotton Yarn Production in the Middle East

In value terms, cotton yarn production contracted modestly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 9% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Cotton Yarn Exports

Exports in the Middle East

In 2021, shipments abroad of cotton yarn increased by 47% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. 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 surged to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) represented roughly 98% of total exports in 2021.

Turkey was also the fastest-growing in terms of the cotton yarn exports, with a CAGR of +6.7% from 2012 to 2021. Turkey (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest cotton yarn supplier in the Middle East.

In Turkey, cotton yarn exports expanded at an average annual rate of +8.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 31% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +1.1% per year.

Cotton Yarn Imports

Imports in the Middle East

In 2021, the amount of cotton yarn imported in the Middle East rose remarkably to X tons, picking up by 12% against the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +10.0% against 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by 26% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, cotton yarn imports soared to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, finishing at X tons, which was approx. 89% of total imports in 2021. It was distantly followed by Iran (X tons), constituting a 4.7% share of total imports. Israel (X tons) took a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the cotton yarn imports, with a CAGR of +10.6% from 2012 to 2021. At the same time, Iran (+8.4%) displayed positive paces of growth. By contrast, Israel (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cotton yarn in the Middle East, comprising 90% of total imports. The second position in the ranking was taken by Iran ($X), with a 3.7% share of total imports.

In Turkey, cotton yarn imports increased at an average annual rate of +9.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Iran (+4.8% per year) and Israel (-0.6% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, surging by 35% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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