Latin America and the Caribbean: Cotton Bag Market 2024

Cotton Bag Market Size in Latin America and the Caribbean

The Latin American cotton bag market reached $X in 2022, surging by X% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cotton Bag Production in Latin America and the Caribbean

In value terms, cotton bag production rose modestly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 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.

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Cotton Bag Exports

Exports in Latin America and the Caribbean

In 2022, the amount of sacks and bags of cotton exported in Latin America and the Caribbean expanded markedly to X tons, with an increase of X% on the previous year's figure. Overall, exports showed strong growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton bag exports surged to $X in 2022. Over the period under review, exports showed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Mexico represented the key exporter of sacks and bags of cotton in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Argentina (X tons) and Uruguay (X tons), together generating a X% share of total exports. Brazil (X tons), Chile (X tons) and Colombia (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Uruguay (X%), Argentina (X%), Brazil (X%) and Chile (X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Colombia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Uruguay and Argentina increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest cotton bag supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Argentina, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Argentina (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton bag export price increased by X% against 2016 indices. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

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

Cotton Bag Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of sacks and bags of cotton decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cotton bag imports dropped to $X in 2022. In general, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X tons) and Mexico (X tons) represented the largest importers of sacks and bags of cotton in 2022, recording near X% and X% of total imports, respectively. Brazil (X tons) ranks next in terms of the total imports with a X% share, followed by Bolivia (X%). The Dominican Republic (X tons), Uruguay (X tons), Jamaica (X tons), Panama (X tons), Aruba (X tons) and Colombia (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. The Dominican Republic, Uruguay, Aruba, Bolivia, Panama, Colombia and Jamaica lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, saw 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 import price in Latin America and the Caribbean stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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