Puerto Rico: Cotton Fabric Market 2024

Cotton Fabric Market Size in Puerto Rico

The Puerto Rican cotton fabric market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, showed a pronounced contraction. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cotton Fabric Production in Puerto Rico

In value terms, cotton fabric production reached $X in 2021 estimated in export price. In general, production, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 39%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Cotton Fabric Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of woven fabrics of cotton were exported from Puerto Rico; flattening at the previous year's figure. Overall, exports saw a relatively flat trend pattern.

In value terms, cotton fabric exports totaled less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 57% of total exports in 2021. It was distantly followed by Turkey (X tons), Pakistan (X tons) and India (X tons), together achieving a 20% share of total exports. Italy (X tons), Hong Kong SAR (X tons), Spain (X tons), the United States (X tons), Thailand (X tons) and Germany (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, India (+29.3%), Pakistan (+21.3%), Turkey (+8.1%), Spain (+7.6%) and Italy (+1.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +29.3% from 2012-2021. Germany experienced a relatively flat trend pattern. By contrast, Thailand (-3.6%), Hong Kong SAR (-6.3%) and the United States (-10.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India, Pakistan and Turkey increased by +5, +4.9 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cotton fabric supplier from Puerto Rico, comprising 48% of global exports. The second position in the ranking was held by India ($X), with an 8.7% share of global exports. It was followed by Pakistan, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +2.0%. In the other countries, the average annual rates were as follows: India (+8.4% per year) and Pakistan (+3.8% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, flattening at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the other leaders experienced a decline in the export price figures.

Cotton Fabric Imports

Imports into Puerto Rico

Cotton fabric imports into Puerto Rico totaled less than X kg in 2021, leveling off at 2020. Overall, imports saw a relatively flat trend pattern.

In value terms, cotton fabric imports amounted to less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Bangladesh (X tons), distantly followed by Mali (X tons), Turkey (X tons), Vietnam (X tons), Italy (X tons), Indonesia (X tons), Cambodia (X tons), Mexico (X tons), the United States (X tons), Colombia (X tons), South Korea (X tons), Sri Lanka (X tons) and China (X tons) represented the major importers of woven fabrics of cotton, together committing 53% of total imports. Mali (X tons), Turkey (X tons), Vietnam (X tons), Italy (X tons), Indonesia (X tons), Cambodia (X tons), Mexico (X tons), the United States (X tons), Colombia (X tons), South Korea (X tons), Sri Lanka (X tons) and China (X tons) took a little share of total imports.

Imports into Bangladesh increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, Mali (+44.0%), Mexico (+19.5%), Colombia (+11.4%), Cambodia (+11.3%), Sri Lanka (+4.7%), Italy (+3.7%) and South Korea (+3.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in the world, with a CAGR of +44.0% from 2012-2021. Indonesia and Turkey experienced a relatively flat trend pattern. By contrast, China (-1.6%), Vietnam (-2.2%) and the United States (-5.2%) illustrated a downward trend over the same period. While the share of Mali (+4.2 p.p.), Bangladesh (+4 p.p.) and Mexico (+2.2 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Vietnam (-1.9 p.p.) and the United States (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported woven fabrics of cotton into Puerto Rico, comprising 18% of global imports. The second position in the ranking was taken by Vietnam ($X), with a 4.8% share of global imports. It was followed by the United States, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Bangladesh amounted to +4.3%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+1.6% per year) and the United States (-3.6% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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