Latin America and the Caribbean: Cotton Yarn Market 2024

Cotton Yarn Market Size in Latin America and the Caribbean

The Latin American cotton yarn market fell sharply to $X in 2023, waning by X% against the previous year. Overall, consumption continues to indicate a abrupt slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Cotton Yarn Production in Latin America and the Caribbean

In value terms, cotton yarn production reduced notably to $X in 2023 estimated in export price. Over the period under review, production faced a dramatic descent. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Cotton Yarn Exports

Exports in Latin America and the Caribbean

Cotton yarn exports reached X tons in 2023, growing by X% compared with 2022 figures. Total exports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the immediate term.

In value terms, cotton yarn exports dropped slightly to $X in 2023. Overall, exports showed a temperate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then declined modestly in the following year.

Exports by Country

In 2023, El Salvador (X tons), distantly followed by Guatemala (X tons), Costa Rica (X tons), Nicaragua (X tons) and Honduras (X tons) represented the key exporters of cotton yarn, together committing X% of total exports. Brazil (X tons) and Mexico (X tons) held a minor share of total exports.

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

In value terms, El Salvador ($X), Guatemala ($X) and Nicaragua ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

In terms of the main exporting countries, Nicaragua, with a CAGR of X%, 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

The export price in Latin America and the Caribbean stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

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 ($X per ton), while El Salvador ($X per ton) 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.

Cotton Yarn Imports

Imports in Latin America and the Caribbean

In 2023, cotton yarn imports in Latin America and the Caribbean fell to X tons, with a decrease of X% compared with the previous year. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, cotton yarn imports fell to $X in 2023. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Honduras represented the key importer of cotton yarn in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. The Dominican Republic (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (X%), Peru (X%), Colombia (X%) and El Salvador (X%). Brazil (X tons) took a minor share of total imports.

Honduras experienced a relatively flat trend pattern with regard to volume of imports of cotton yarn. At the same time, Peru (X%), the Dominican Republic (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia experienced a relatively flat trend pattern. By contrast, Brazil (X%) and El Salvador (X%) illustrated a downward trend over the same period. While the share of Peru (X p.p.), the Dominican Republic (X p.p.), Honduras (X p.p.) and Guatemala (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Brazil (X p.p.) and El Salvador (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Honduras ($X) constitutes the largest market for imported cotton yarn in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Honduras amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Guatemala (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in the Dominican Republic ($X per ton) and El Salvador ($X per ton), while Honduras ($X per ton) and Peru ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform