Singapore: Cotton Fabric Market 2024

Cotton Fabric Market Size in Singapore

The Singaporean cotton fabric market shrank modestly to $X in 2023, falling by X% against the previous year. Over the period under review, consumption, however, saw a deep contraction. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.

Cotton Fabric Production in Singapore

In value terms, cotton fabric production reduced to $X in 2023 estimated in export price. Over the period under review, production saw a slight descent. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

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Cotton Fabric Exports

Exports from Singapore

Cotton fabric exports from Singapore contracted notably to X square meters in 2023, reducing by X% compared with 2022 figures. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X square meters. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, cotton fabric exports reduced dramatically to $X in 2023. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Bangladesh (X square meters), Thailand (X square meters) and Sri Lanka (X square meters) were the main destinations of cotton fabric exports from Singapore, with a combined X% share of total exports. Indonesia, Malaysia, Vietnam, Myanmar, Hong Kong SAR and China 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 Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton fabric exported from Singapore were Bangladesh ($X), Indonesia ($X) and Sri Lanka ($X), together comprising X% of total exports. Thailand, Malaysia, Vietnam, Myanmar, Hong Kong SAR and China lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, 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

The average cotton fabric export price stood at $X per square meter in 2023, declining by X% against the previous year. Overall, the export price saw a pronounced downturn. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per square meter), while the average price for exports to Thailand ($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 China (X%), while the prices for the other major destinations experienced a decline.

Cotton Fabric Imports

Imports into Singapore

For the fifth consecutive year, Singapore recorded decline in purchases abroad of woven fabrics of cotton, which decreased by X% to X square meters in 2023. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports 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 dropped significantly to $X in 2023. Overall, imports saw a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X square meters), Malaysia (X square meters) and China (X square meters) were the main suppliers of cotton fabric imports to Singapore, together comprising X% of total imports. India, the Netherlands, Italy, the United States, Indonesia, Pakistan, Japan, Switzerland and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and China ($X) appeared to be the largest cotton fabric suppliers to Singapore, together accounting for X% of total imports. The Netherlands, India, Italy, Indonesia, the United States, Pakistan, Japan, Switzerland and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per square meter), while the price for Thailand ($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 the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform