Estonia: Cotton Fabric Market 2024

Cotton Fabric Market Size in Estonia

In 2023, the Estonian cotton fabric market was finally on the rise to reach $X for the first time since 2018, thus ending a four-year declining trend. Over the period under review, the total consumption indicated a notable increase 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, consumption decreased by X% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Cotton Fabric Production in Estonia

In value terms, cotton fabric production contracted slightly to $X in 2023 estimated in export price. Over the period under review, production enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Cotton fabric production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Cotton Fabric Exports

Exports from Estonia

In 2023, after two years of growth, there was significant decline in overseas shipments of woven fabrics of cotton, when their volume decreased by X% to X square meters. In general, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. The exports peaked at X square meters in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, cotton fabric exports shrank markedly to $X in 2023. Over the period under review, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X square meters), Poland (X square meters) and Latvia (X square meters) were the main destinations of cotton fabric exports from Estonia, together comprising X% of total exports. Lithuania, the United States, Sweden, Ukraine and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, Finland ($X) remains the key foreign market for woven fabrics of cotton exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Lithuania (X% per year).

Export Prices by Country

In 2023, the average cotton fabric export price amounted to $X per square meter, increasing by X% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Sweden ($X per square meter), while the average price for exports to Poland ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Estonia

For the third consecutive year, Estonia recorded decline in purchases abroad of woven fabrics of cotton, which decreased by X% to X square meters in 2023. In general, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X square meters. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, cotton fabric imports declined to $X in 2023. Overall, imports recorded a noticeable descent. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Pakistan (X square meters), China (X square meters) and France (X square meters) were the main suppliers of cotton fabric imports to Estonia, together accounting for X% of total imports. Sweden, the Czech Republic, Turkey, Finland, Italy, Lithuania, Poland, the Netherlands, Belgium and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest cotton fabric suppliers to Estonia were the Czech Republic ($X), Sweden ($X) and China ($X), together comprising X% of total imports.

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

Import Prices by Country

The average cotton fabric import price stood at $X per square meter in 2023, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for Pakistan ($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 Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform