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 increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, showed a perceptible reduction. Over the period under review, the market hit record highs 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 reduced modestly to $X in 2023 estimated in export price. Overall, production recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Cotton Fabric Exports

Exports in Latin America and the Caribbean

In 2023, approx. X square meters of woven fabrics of cotton were exported in Latin America and the Caribbean; with a decrease of X% against the previous year. In general, exports saw a perceptible slump. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports attained the peak of X square meters. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton fabric exports reduced rapidly to $X in 2023. Overall, exports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, the Dominican Republic (X square meters) and Brazil (X square meters) were the key exporters of woven fabrics of cotton in Latin America and the Caribbean, together comprising X% of total exports. Ecuador (X square meters) ranks next in terms of the total exports with a X% share, followed by Mexico (X%) and Colombia (X%). Peru (X square meters) and Guatemala (X square meters) took a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced mixed trends 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, together comprising X% of total exports.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per square meter, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

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 ($X per square meter), while Guatemala ($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 decline in overseas purchases of woven fabrics of cotton, when their volume decreased by X% to X square meters. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X square meters in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, cotton fabric imports shrank to $X in 2023. Total imports indicated measured growth from 2012 to 2023: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Colombia (X square meters) and Mexico (X square meters) represented the key importers of woven fabrics of cotton in Latin America and the Caribbean, together amounting to approx. X% of total imports. Haiti (X square meters) held the next position in the ranking, followed by Chile (X square meters), Brazil (X square meters), Guatemala (X square meters), Peru (X square meters) and Nicaragua (X square meters). All these countries together took approx. X% share of total imports. Ecuador (X square meters), Argentina (X square meters), Paraguay (X square meters), the Dominican Republic (X square meters) and Venezuela (X square meters) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key 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 ($X), Colombia ($X) and Haiti ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Nicaragua, the Dominican Republic, Brazil, Peru, Ecuador, Argentina, Chile, Venezuela, Guatemala and Paraguay lagged somewhat behind, together accounting for a further X%.

Nicaragua, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2023, reducing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per square meter in 2018; however, from 2019 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