GCC: Cotton Yarn Market 2024

Cotton Yarn Market Size in GCC

In 2022, after two years of growth, there was significant decline in the GCC cotton yarn market, when its value decreased by X% to $X. Over the period under review, consumption, however, continues to indicate a slight slump. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Cotton Yarn Production in GCC

In value terms, cotton yarn production expanded markedly to $X in 2022 estimated in export price. The total production indicated noticeable 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 most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Cotton Yarn Exports

Exports in GCC

In 2023, approx. X tons of cotton yarn were exported in GCC; waning by X% against the previous year's figure. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, cotton yarn exports fell to $X in 2023. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) and Bahrain (X tons) dominates exports structure, together making up X% of total exports. It was distantly followed by Oman (X tons), mixing up a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Bahrain (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest cotton yarn supplying countries in GCC were the United Arab Emirates ($X), Bahrain ($X) and Oman ($X), together accounting for X% of total exports.

Among the main exporting countries, Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced mixed trends in the export price figures.

Cotton Yarn Imports

Imports in GCC

In 2023, cotton yarn imports in GCC surged to X tons, picking up by X% against the year before. Overall, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, cotton yarn imports skyrocketed to $X in 2023. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which amounted to X% of total imports. Oman (X tons) ranks second in terms of the total imports with a X% share, followed by Bahrain (X%) and Saudi Arabia (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price recorded modest growth. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform