Turkey: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Turkey

In 2021, the Turkish cotton sewing thread market increased by 22% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Cotton sewing thread consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Cotton Sewing Thread Production in Turkey

In value terms, cotton sewing thread production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 33%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Turkey

In 2021, shipments abroad of cotton sewing thread decreased by -16.7% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 312%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, cotton sewing thread exports surged to $X in 2021. Overall, exports, however, saw a resilient increase. The growth pace was the most rapid in 2018 when exports increased by 159% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Egypt (X tons) was the main destination for cotton sewing thread exports from Turkey, with a 57% share of total exports. Moreover, cotton sewing thread exports to Egypt exceeded the volume sent to the second major destination, Belarus (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt amounted to +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+60.7% per year) and Germany (+13.2% per year).

In value terms, Egypt ($X) remains the key foreign market for cotton sewing thread exports from Turkey, comprising 44% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.6% share of total exports. It was followed by Guatemala, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Egypt amounted to +62.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.6% per year) and Guatemala (+59.3% per year).

Export Prices by Country

The average cotton sewing thread export price stood at $X per ton in 2021, with an increase of 60% against the previous year. Overall, the export price, however, saw a perceptible decrease. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Senegal ($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 Indonesia (+42.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Sewing Thread Imports

Imports into Turkey

In 2021, cotton sewing thread imports into Turkey skyrocketed to X tons, picking up by 34% compared with 2020 figures. In general, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 78% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton sewing thread imports skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt setback. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of cotton sewing thread to Turkey, accounting for a 68% share of total imports. Moreover, cotton sewing thread imports from Egypt exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Egypt stood at -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+22.4% per year) and Saudi Arabia (0.0% per year).

In value terms, Egypt ($X) constituted the largest supplier of cotton sewing thread to Turkey, comprising 71% of total imports. The second position in the ranking was taken by India ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Egypt totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+24.3% per year) and Saudi Arabia (0.0% per year).

Import Prices by Country

In 2021, the average cotton sewing thread import price amounted to $X per ton, growing by 60% against the previous year. In general, the import price, however, recorded a mild setback. The pace of growth appeared the most rapid in 2019 an increase of 66%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 India ($X per ton), while the price for Saudi Arabia ($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 (+1.5%).

Source: IndexBox Platform

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