Puerto Rico: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Puerto Rico

In 2021, the Puerto Rican cotton sewing thread market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a perceptible reduction. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Cotton Sewing Thread Production in Puerto Rico

In value terms, cotton sewing thread production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 51% against the previous year. Puerto Rico production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Puerto Rico

In 2021, exports of cotton sewing thread from Puerto Rico stood at less than X kg, standing approx. at the previous year. In general, exports showed a relatively flat trend pattern.

In value terms, cotton sewing thread exports stood at less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

China (X tons) and Turkey (X tons) represented roughly 39% of total exports in 2021. India (X tons) ranks next in terms of the total exports with a 10% share, followed by Pakistan (9.1%). Egypt (X tons), Afghanistan (X tons), Mali (X tons), Honduras (X tons), Italy (X tons), Oman (X tons), Spain (X tons), South Africa (X tons) and Lesotho (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Lesotho (with a CAGR of +48.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 47% of total exports. These countries were followed by Italy, Egypt, Pakistan, Spain, Oman, Honduras, South Africa, Afghanistan, Lesotho and Mali, which together accounted for a further 25%.

In terms of the main exporting countries, Lesotho, with a CAGR of +34.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Overall, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the other leaders experienced more modest paces of growth.

Cotton Sewing Thread Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of cotton sewing thread were imported into Puerto Rico; flattening at 2020. Overall, imports recorded a relatively flat trend pattern.

In value terms, cotton sewing thread imports totaled less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

The purchases of the three major importers of cotton sewing thread, namely the Dominican Republic, Indonesia and Cambodia, represented more than 0.0% of total import. Nigeria (X tons) held the next position in the ranking, followed by Guatemala (X tons). All these countries together took near 15% share of total imports. The United States (X tons), Lao People's Democratic Republic (X tons), Myanmar (X tons), Spain (X tons), Burkina Faso (X tons), the Philippines (X tons), Malaysia (X tons) and Belgium (X tons) held a little share of total imports.

From 2012 to 2021, the Dominican Republic (+12.4%) constituted the fastest-growing cotton sewing thread suppliers amongst the major cotton sewing thread importers. At the same time, imports of cotton sewing thread into Cambodia (-17.7%) and Indonesia (-18.6%) experienced a contraction from 2012 to 2021. At the same time, Myanmar (+27.3%), Lao People's Democratic Republic (+20.2%), Burkina Faso (+15.5%), Nigeria (+14.4%), Guatemala (+13.5%), the Philippines (+10.4%), Malaysia (+5.0%) and Belgium (+2.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in the world, with a CAGR of +27.3% from 2012-2021. By contrast, the United States (-1.2%) and Spain (-2.2%) illustrated a downward trend over the same period. While the share of the Dominican Republic (+13 p.p.), Nigeria (+5.5 p.p.), Guatemala (+5.3 p.p.), Myanmar (+2.6 p.p.), Lao People's Democratic Republic (+2.5 p.p.) and Burkina Faso (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Cambodia (-6.3 p.p.) and Indonesia (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X), the United States ($X) and Lao People's Democratic Republic ($X) were the countries with the highest levels of imports in 2021, with a combined 26% share of total imports.

Lao People's Democratic Republic, with a CAGR of +23.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Puerto Rico stood at less than $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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