Saudi Arabia: Cotton Bag Market 2024

Cotton Bag Market Size in Saudi Arabia

After three years of growth, the Saudi cotton bag market decreased by -12.8% to $X in 2021. Over the period under review, consumption, however, showed a resilient expansion. Cotton bag consumption peaked at $X in 2020, and then reduced in the following year.

Cotton Bag Production in Saudi Arabia

In value terms, cotton bag production dropped to $X in 2021 estimated in export price. Overall, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 56% against the previous year. Cotton bag production peaked at $X in 2020, and then dropped in the following year.

Cotton Bag Exports

Exports from Saudi Arabia

In 2021, overseas shipments of sacks and bags of cotton decreased by -75.3% to X kg, falling for the second year in a row after three years of growth. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 368%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton bag exports shrank rapidly to $X in 2021. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 203% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X kg) was the main destination for cotton bag exports from Saudi Arabia, with a 94% share of total exports. Moreover, cotton bag exports to Egypt exceeded the volume sent to the second major destination, Yemen (X kg), more than tenfold. The third position in this ranking was taken by the Netherlands (X kg), with a 0.7% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt totaled +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-30.3% per year) and the Netherlands (-23.4% per year).

In value terms, Egypt ($X) remains the key foreign market for sacks and bags of cotton exports from Saudi Arabia, comprising 96% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 1.9% share of total exports. It was followed by the United Arab Emirates, with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-16.6% per year) and the United Arab Emirates (-41.1% per year).

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2021, waning by -13.7% against the previous year. Over the period under review, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($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 Qatar (+113.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Bag Imports

Imports into Saudi Arabia

Cotton bag imports into Saudi Arabia surged to X tons in 2014, jumping by 33% against the previous year's figure. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. Imports peaked in 2014 and are expected to retain growth in the near future.

In value terms, cotton bag imports skyrocketed to $X in 2014. In general, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2014, Pakistan (X tons) constituted the largest supplier of cotton bag to Saudi Arabia, accounting for a 90% share of total imports. Moreover, cotton bag imports from Pakistan exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2014, the average annual growth rate of volume from Pakistan stood at +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (0.0% per year) and China (-17.6% per year).

In value terms, Pakistan ($X) constituted the largest supplier of sacks and bags of cotton to Saudi Arabia, comprising 77% of total imports. The second position in the ranking was held by China ($X), with a 7.9% share of total imports. It was followed by India, with a 7.1% share.

From 2012 to 2014, the average annual rate of growth in terms of value from Pakistan stood at +41.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+34.1% per year) and India (0.0% per year).

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2014, with an increase of 40% against the previous year. Overall, the import price, however, recorded a pronounced decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2014, 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 Thailand ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by Thailand (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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