Latin America and the Caribbean: Cotton Fabric Market 2024

Cotton Fabric Market Size in Latin America and the Caribbean

In 2023, the Latin American cotton fabric market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption saw a slight shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Cotton Fabric Production in Latin America and the Caribbean

In value terms, cotton fabric production declined slightly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Cotton Fabric Exports

Exports in Latin America and the Caribbean

In 2023, cotton fabric exports in Latin America and the Caribbean declined significantly to X square meters, which is down by X% against the previous year's figure. In general, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X square meters in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, cotton fabric exports fell notably to $X in 2023. Overall, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Brazil (X square meters) and the Dominican Republic (X square meters) represented roughly X% of total exports in 2023. Mexico (X square meters) ranks next in terms of the total exports with an X% share, followed by Ecuador (X%) and Colombia (X%). The following exporters - Peru (X square meters) and Venezuela (X square meters) - each reached a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Venezuela (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the Dominican Republic ($X), Mexico ($X) and Brazil ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Ecuador, Colombia, Peru and Venezuela lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Venezuela, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2023, flattening at the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked in 2023 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per square meter), while Venezuela ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Cotton Fabric Imports

Imports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in overseas purchases of woven fabrics of cotton, when their volume decreased by X% to X square meters. Overall, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at X square meters in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, cotton fabric imports reduced to $X in 2023. In general, imports showed a noticeable contraction. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Colombia (X square meters) and Mexico (X square meters) represented the largest importers of woven fabrics of cotton in 2023, resulting at approx. X% and X% of total imports, respectively. Haiti (X square meters) held the next position in the ranking, followed by Chile (X square meters), Nicaragua (X square meters), Guatemala (X square meters), Peru (X square meters), Ecuador (X square meters) and Brazil (X square meters). All these countries together held near X% share of total imports. The Dominican Republic (X square meters) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nicaragua (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported woven fabrics of cotton in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Haiti, with an X% share.

In Mexico, cotton fabric imports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Haiti (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per square meter, reducing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per square meter in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per square meter), while Chile ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform