China: Cotton Yarn Market 2023

Cotton Yarn Market Size in China

The Chinese cotton yarn market contracted sharply to $X in 2022, declining by -45% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Cotton Yarn Exports

Exports from China

In 2022, the amount of cotton yarn exported from China shrank modestly to X tons, with a decrease of -3.5% on 2021. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton yarn exports reduced to $X in 2022. Overall, exports recorded a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons), Vietnam (X tons) and Pakistan (X tons) were the main destinations of cotton yarn exports from China, with a combined 23% share of total exports. Russia, Indonesia, Thailand, Colombia, Myanmar, Cambodia, South Korea, Uzbekistan, Italy and the Philippines lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +90.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton yarn exported from China were Bangladesh ($X), Vietnam ($X) and Pakistan ($X), together comprising 27% of total exports. Italy, Russia, Indonesia, Cambodia, Thailand, South Korea, the Philippines, Myanmar, Colombia and Uzbekistan lagged somewhat behind, together accounting for a further 13%.

Uzbekistan, with a CAGR of +98.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cotton yarn export price amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 20%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into China

In 2022, approx. X tons of cotton yarn were imported into China; falling by -42.9% compared with the previous year's figure. Over the period under review, imports saw a slight slump. The growth pace was the most rapid in 2013 with an increase of 41%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cotton yarn imports declined rapidly to $X in 2022. In general, imports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of cotton yarn to China, accounting for a 29% share of total imports. Moreover, cotton yarn imports from Vietnam exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), fivefold. The third position in this ranking was taken by Uzbekistan (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-12.6% per year) and Uzbekistan (+10.3% per year).

In value terms, Vietnam ($X) constituted the largest supplier of cotton yarn to China, comprising 29% of total imports. The second position in the ranking was held by Pakistan ($X), with a 6.6% share of total imports. It was followed by Uzbekistan, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-11.5% per year) and Uzbekistan (+10.2% per year).

Import Prices by Country

The average cotton yarn import price stood at $X per ton in 2022, increasing by 11% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 27% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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