Not carded or combed cotton market in Eastern Asia

Earlier Report Observations

The market for not carded or combed cotton in Eastern Asia, led by China, expanded significantly to 31.4 million tons in 2018, driven by industry modernization and the national '14th Five-Year Plan' for textile development. This growth was further supported by China attracting textile industry transfers from Japan and South Korea, solidifying its position as the world's largest producer. However, the COVID-19 pandemic severely impacted the market from 2019 onward, with falling consumption expectations, disrupted factory operations, and weak demand reducing the market size to 27.8 million tons in 2020 and to 25.4 million tons in 2021 as the pandemic's effects lingered.

In 2022, the market recovered to 27.8 million tons, a rebound that occurred despite rising cotton production costs and a reduction in planting area. During this period, the steady development of the cotton futures market enhanced price transparency and supply chain services. The market contracted again in 2023, falling to 26.2 million tons, due to a global economic slowdown, regional conflicts, and a significant domestic decrease in cotton planting area and output.

For 2024, domestic cotton production increased, supported by favorable weather conditions in Xinjiang and higher target prices that boosted planting incentives. Nevertheless, structural challenges such as high production costs and low planting efficiency persisted. Import volumes rose substantially, primarily from the United States and Brazil, to supplement domestic supply. The textile sector faced weak demand due to global economic uncertainty, limited orders, and ample international cotton stocks, while state-owned enterprises like Xinjiang Huijin Logistics played a key role in strengthening warehousing and supply chain services.

Production not carded or combed cotton in Eastern Asia

In kind, 2017-2020, K t

Top producers of not carded or combed cotton, 2017-2020

World map of production of not carded or combed cotton, 2017-2020

Eastern Asia's production of not carded or combed cotton declined after two years of growth. In 2020, the region produced 25,458 thousand tons, marking a significant 13.5% decrease from the previous year. Over the 2017-2020 period, production increased by 11.5%, with an average annual growth rate of 3.7%. The highest production level was recorded in 2019 at 29,442 thousand tons, which also saw the largest annual increase of 19.5%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following two years of gains, Eastern Asia's production value of not carded or combed cotton declined. In 2020, the output was valued at 40,287 million US dollars, representing a substantial 20.0% reduction compared to the previous year. Between 2017 and 2020, production value decreased by 8.9%, equivalent to an average annual decline of 3.1%. The peak value occurred in 2019 at 50,386 million US dollars, while the largest annual increase was recorded in 2018 at 9.1%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports not carded or combed cotton from Eastern Asia

Exports in kind, K t

Export volumes of not carded or combed cotton from Eastern Asia showed significant volatility during this period. Volumes reached their lowest point in 2020 at 7 thousand tons, which was 87.5% lower than the previous year. The peak was recorded in 2019 at 57 thousand tons, creating an 8-fold difference between these two years. The largest annual increase occurred in 2018 at 151.8%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, Vietnam, Indonesia, and Bangladesh were the main destinations for Eastern Asia's not carded or combed cotton exports in kind. Vietnam accounted for 43.0% of exports, Indonesia for 21.6%, and Bangladesh for 7.5%. Together, these three countries absorbed 72.1% of total exports from the region.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

The export value of not carded or combed cotton from Eastern Asia demonstrated considerable volatility during the observed period. In 2020, exports totaled 11 million US dollars, representing an 88.5% decline from the previous year. The highest value was recorded in 2019 at 98 million US dollars, resulting in an 8.7-fold difference between these two years. The largest annual increase occurred in 2018 at 154.5%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

During 2017-2020, Vietnam, Indonesia, and Bangladesh remained the leading buyers of not carded or combed cotton from Eastern Asia in value terms. Vietnam accounted for 42.5% of export value, Indonesia for 22.1%, and Bangladesh for 7.3%. Collectively, these three markets represented 71.9% of total export value from the region.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports not carded or combed cotton to Eastern Asia

Imports in kind, K t

Eastern Asia's imports of not carded or combed cotton in kind increased for the third consecutive year. In 2020, the region imported approximately 2,308 thousand tons, showing a 12.8% year-over-year rise. Over the 2017-2020 period, imports grew by 61.6%, with an average annual growth rate of 17.3%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the United States, Brazil, and Australia were the primary sources for Eastern Asia's imports of not carded or combed cotton in kind. The United States accounted for 38.1% of imports, Brazil for 21.1%, and Australia for 16.4%. Together, these three countries supplied 75.6% of total imports to the region.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

After two years of growth, Eastern Asia's import value of not carded or combed cotton declined. In 2020, imports totaled 3,813 million US dollars, representing a 3.1% decrease compared to 2019. Over the 2017-2020 period, import value increased by 41%, with an average annual growth rate of 12.1%. The peak value was recorded in 2019 at 3,934 million US dollars, while the largest annual increase occurred in 2018 at 35.9%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Throughout 2017-2020, the United States, Brazil, and Australia remained key partners for Eastern Asia's imports of not carded or combed cotton in value terms. The United States accounted for 38.2% of import value, Brazil for 20.4%, and Australia for 18.0%. Collectively, these three countries represented 76.5% of total import value to the region.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020