Colombia: Cotton Bag Market 2024

Cotton Bag Market Size in Colombia

The Colombian cotton bag market totaled $X in 2022, with an increase of X% against the previous year. Overall, consumption saw a resilient increase. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cotton Bag Production in Colombia

In value terms, cotton bag production expanded remarkably to $X in 2022 estimated in export price. Overall, production enjoyed a resilient increase. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cotton Bag Exports

Exports from Colombia

In 2022, approx. X tons of sacks and bags of cotton were exported from Colombia; with a decrease of X% against the previous year. In general, exports faced a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, cotton bag exports fell sharply to $X in 2022. Over the period under review, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

Italy (X tons) was the main destination for cotton bag exports from Colombia, with a X% share of total exports. Moreover, cotton bag exports to Italy exceeded the volume sent to the second major destination, the United States (X kg), fourfold. The third position in this ranking was taken by the Netherlands (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for sacks and bags of cotton exports from Colombia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with an X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price posted a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

Cotton Bag Imports

Imports into Colombia

In 2022, imports of sacks and bags of cotton into Colombia dropped to X tons, stabilizing at the previous year. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cotton bag imports shrank notably to $X in 2022. In general, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cotton bag to Colombia, with a X% share of total imports. Moreover, cotton bag imports from China exceeded the figures recorded by the second-largest supplier, India (X kg), ninefold. Italy (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of sacks and bags of cotton to Colombia, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and India (X% per year).

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :