Sri Lanka: Cotton Bag Market 2025

Cotton Bag Market Size in Sri Lanka

After three years of growth, the Sri Lankan cotton bag market decreased by -0.2% to $X in 2021. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, the market hit record highs at $X in 2020, and then declined slightly in the following year.

Cotton Bag Production in Sri Lanka

In value terms, cotton bag production amounted to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 52%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Cotton Bag Exports

Exports from Sri Lanka

In 2021, after two years of growth, there was significant decline in shipments abroad of sacks and bags of cotton, when their volume decreased by -15.1% to X tons. In general, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 879% against the previous year. The exports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, cotton bag exports rose significantly to $X in 2021. Overall, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 929% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of cotton bag exports from Sri Lanka, with a combined 72% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +96.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and the United States ($X) constituted the largest markets for cotton bag exported from Sri Lanka worldwide, together accounting for 70% of total exports.

Among the main countries of destination, South Korea, with a CAGR of +80.2%, saw the highest rates of growth with regard to the value of exports, 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 bag export price amounted to $X per ton, growing by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 an increase of 44% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

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 South Korea ($X per ton), while the average price for exports to Ireland ($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 Maldives (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Bag Imports

Imports into Sri Lanka

Cotton bag imports into Sri Lanka shrank rapidly to X tons in 2021, waning by -83.8% against 2020. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2019 with an increase of 275%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cotton bag imports contracted sharply to $X in 2021. Over the period under review, imports recorded a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 286%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X kg) constituted the largest cotton bag supplier to Sri Lanka, with a 72% share of total imports. Moreover, cotton bag imports from India exceeded the figures recorded by the second-largest supplier, Bangladesh (X kg), fourfold. The third position in this ranking was taken by Pakistan (X kg), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (-26.3% per year) and Pakistan (-10.8% per year).

In value terms, India ($X) constituted the largest supplier of sacks and bags of cotton to Sri Lanka, comprising 79% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 7.4% share of total imports. It was followed by Pakistan, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (-27.8% per year) and Pakistan (-15.2% per year).

Import Prices by Country

In 2021, the average cotton bag import price amounted to $X per ton, growing by 52% against the previous year. Over the period under review, the import price recorded a modest increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 102%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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