Portugal: Cotton Fabric Market 2024

Cotton Fabric Market Size in Portugal

In 2021, the Portuguese cotton fabric market increased by 3% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Cotton fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cotton Fabric Production in Portugal

In value terms, cotton fabric production soared to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. Cotton fabric production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Cotton Fabric Exports

Exports from Portugal

In 2021, after four years of decline, there was significant growth in overseas shipments of woven fabrics of cotton, when their volume increased by 25% to X tons. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 43%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, cotton fabric exports surged to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons), France (X tons) and Italy (X tons) were the main destinations of cotton fabric exports from Portugal, with a combined 48% share of total exports. Germany, Belgium, Algeria, Sri Lanka, Morocco, Tunisia, El Salvador, the United States, the Netherlands and the UK lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +92.3%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for woven fabrics of cotton exports from Portugal, comprising 24% of total exports. The second position in the ranking was taken by Germany ($X), with a 10% share of total exports. It was followed by France, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.3% per year) and France (+4.6% per year).

Export Prices by Country

In 2021, the average cotton fabric export price amounted to $X per ton, increasing by 3% against the previous year. Over the period under review, the export price, however, showed a abrupt slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 5.5% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Algeria ($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 Algeria (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Fabric Imports

Imports into Portugal

In 2021, the amount of woven fabrics of cotton imported into Portugal rose slightly to X tons, surging by 3.7% against the previous year. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +12.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +7.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 76% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cotton fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 39%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest supplier of cotton fabric to Portugal, with a 56% share of total imports. Moreover, cotton fabric imports from Pakistan exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. Spain (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Pakistan stood at +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.2% per year) and Spain (+3.1% per year).

In value terms, Pakistan ($X) constituted the largest supplier of woven fabrics of cotton to Portugal, comprising 42% of total imports. The second position in the ranking was taken by Spain ($X), with a 14% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Pakistan totaled +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-1.3% per year) and Italy (-1.4% per year).

Import Prices by Country

In 2021, the average cotton fabric import price amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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