Global purchases of imported cotton in 2017 totaled US$49.9 billion.
Overall, the value of cotton imported into all importing countries dropped by an average -20.5% since 2013 when cotton purchases were valued at $62.8 billion. In contrast, global cotton imports appreciated by 11.1% from 2016 to 2017.
From a continental perspective, Asian countries bought nearly two-thirds (65.5%) of worldwide cotton imports. Smaller percentages of the global total were imported into Europe (16%), Africa (7.8%), Latin America excluding Mexico but including the Caribbean (6.1%), North America (4.1%) and Oceania (0.2%) led by Australia and New Zealand.
The two-digit Harmonized Tariff System code for cotton is 52. This broad category includes raw cotton, cotton yarn, thread and woven fabrics.
Countries
Below are the 15 countries that purchased the highest dollar value worth of imported cotton during 2017:
- China: US$8.6 billion (17.3% of total cotton imports)
- Bangladesh: $5.3 billion (10.7%)
- Vietnam: $4.2 billion (8.4%)
- Turkey: $3 billion (6%)
- Indonesia: $2.1 billion (4.3%)
- Hong Kong: $1.5 billion (3%)
- Italy: $1.3 billion (2.5%)
- South Korea: $1.2 billion (2.3%)
- Germany: $1 billion (2.1%)
- Mexico: $1 billion (2%)
- India: $991.4 million (2%)
- Pakistan: $975 million (2%)
- United States: $940.6 million (1.9%)
- Thailand: $777.7 million (1.6%)
- Honduras: $768.9 million (1.5%)
By value, the listed 15 cotton importers represent roughly two-thirds (67.5%) of global cotton imports during 2017.
Only four top importers increased their cotton purchases since 2013 namely Honduras (up 10,114%), Vietnam (up 46%), India (up 31.2%) and Turkey (up 0.2%).
Leading the decliners for imported cotton purchases were: Hong Kong (down -56.1%), China (down -50%), South Korea (down -31.4%), Thailand (down -25.7%) and Italy (down -21.2%).
Source: worldstopexports.com