New Zealand: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in New Zealand

In 2021, the New Zealand cotton sewing thread market increased by 47% to $X, rising for the third consecutive year after two years of decline. In general, consumption continues to indicate buoyant growth. Cotton sewing thread consumption peaked in 2021 and is expected to retain growth in the immediate term.

Cotton Sewing Thread Exports

Exports from New Zealand

In 2021, cotton sewing thread exports from New Zealand soared to X tons, with an increase of 68% compared with the year before. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 212%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cotton sewing thread exports soared to $X in 2021. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by 116% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons) was the main destination for cotton sewing thread exports from New Zealand, accounting for a 77% share of total exports. Moreover, cotton sewing thread exports to Fiji exceeded the volume sent to the second major destination, Australia (X kg), sevenfold. New Caledonia (X kg) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Fiji stood at +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-14.5% per year) and New Caledonia (-11.2% per year).

In value terms, Fiji ($X) remains the key foreign market for cotton sewing thread exports from New Zealand, comprising 78% of total exports. The second position in the ranking was held by Australia ($X), with an 8.8% share of total exports. It was followed by Cook Islands, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Fiji totaled +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+5.9% per year) and Cook Islands (+4.6% per year).

Export Prices by Country

In 2021, the average cotton sewing thread export price amounted to $X per ton, growing by 14% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +10.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton sewing thread export price increased by +29.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 51%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Niue ($X per ton), while the average price for exports to New Caledonia ($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 Niue (+48.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Sewing Thread Imports

Imports into New Zealand

Cotton sewing thread imports into New Zealand soared to X tons in 2021, with an increase of 58% compared with the previous year. In general, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cotton sewing thread imports surged to $X in 2021. Overall, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest cotton sewing thread supplier to New Zealand, accounting for a 85% share of total imports. Moreover, cotton sewing thread imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.9% per year) and India (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of cotton sewing thread to New Zealand, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+28.2% per year) and Germany (+18.0% per year).

Import Prices by Country

The average cotton sewing thread import price stood at $X per ton in 2021, falling by -9.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 an increase of 38%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :