Venezuela: Cotton Bag Market 2022

Cotton Bag Market Size in Venezuela

In 2021, after three years of growth, there was decline in the Venezuelan cotton bag market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Cotton bag consumption peaked at $X in 2020, and then reduced modestly in the following year.

Cotton Bag Production in Venezuela

In value terms, cotton bag production dropped modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Cotton bag production peaked at $X in 2020, and then declined slightly in the following year.

Cotton Bag Exports

Exports from Venezuela

In 2021, approx. X kg of sacks and bags of cotton were exported from Venezuela; almost unchanged from 2020. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X kg. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton bag exports expanded significantly to $X in 2021. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Ireland (X kg) was the main destination for cotton bag exports from Venezuela, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland totaled -X%.

In value terms, Ireland ($X) also remains the key foreign market for cotton bag exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Ireland totaled -X%.

Export Prices by Country

In 2021, the average cotton bag export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, showed a perceptible curtailment. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Ireland.

From 2012 to 2021, the rate of growth in terms of prices for Ireland amounted to -X% per year.

Cotton Bag Imports

Imports into Venezuela

After four years of decline, purchases abroad of sacks and bags of cotton increased by X% to X kg in 2021. In general, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, cotton bag imports soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Panama (X kg) constituted the largest cotton bag supplier to Venezuela, with a X% share of total imports. Moreover, cotton bag imports from Panama exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. The third position in this ranking was held by Germany (X kg), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Panama totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and Germany (-X% per year).

In value terms, the largest cotton bag suppliers to Venezuela were Panama ($X), Italy ($X) and the United States ($X), together comprising X% of total imports. Thailand, China, Germany and France lagged somewhat behind, together comprising a further X, with a CAGR of +X%, saw 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

In 2021, the average cotton bag import price amounted to $X per ton, with an increase of X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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