Singapore: Cotton Fabric Market 2024

Cotton Fabric Market Size in Singapore

After two years of growth, the Singaporean cotton fabric market decreased by -5.6% to $X in 2021. Over the period under review, consumption saw a pronounced slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Cotton Fabric Production in Singapore

In value terms, cotton fabric production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 224% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Cotton Fabric Exports

Exports from Singapore

In 2021, the amount of woven fabrics of cotton exported from Singapore fell to X tons, waning by -13.9% on the previous year's figure. Over the period under review, exports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2014 with an increase of 475% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton fabric exports dropped significantly to $X in 2021. In general, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 50% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Bangladesh (X tons) and Thailand (X tons) were the main destinations of cotton fabric exports from Singapore, with a combined 55% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +18.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton fabric exported from Singapore were Indonesia ($X), Bangladesh ($X) and Thailand ($X), together comprising 51% of total exports.

Thailand, with a CAGR of +22.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cotton fabric export price amounted to $X per ton, falling by -28.3% against the previous year. Overall, the export price faced a deep reduction. The growth pace was the most rapid in 2013 an increase of 178%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Bangladesh ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Singapore

For the third consecutive year, Singapore recorded decline in purchases abroad of woven fabrics of cotton, which decreased by -12.5% to X tons in 2021. Overall, imports saw a slight curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 74% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cotton fabric imports reached $X in 2021. Over the period under review, imports showed a abrupt downturn. The growth pace was the most rapid in 2018 when imports increased by 33%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of cotton fabric imports to Singapore, with a combined 59% share of total imports. China, Indonesia, the United States, Sri Lanka, Japan, Switzerland, Italy and Hong Kong SAR lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sri Lanka (with a CAGR of +142.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), India ($X) and Malaysia ($X) constituted the largest cotton fabric suppliers to Singapore, together comprising 57% of total imports. These countries were followed by China, the United States, Indonesia, Sri Lanka, Italy, Japan, Switzerland and Hong Kong SAR, which together accounted for a further 36%.

Sri Lanka, with a CAGR of +151.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton fabric import price stood at $X per ton in 2021, surging by 19% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 61%. As a result, import price reached the peak level of $X per ton. From 2015 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 Hong Kong SAR ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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