COTTON TRADE ANALYSIS - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)


Cotton Trade Analysis Market Analysis:

The global cotton trade market is expected to experience a compound annual growth rate (CAGR) of 4.5% throughout the projected period. Cotton is primarily cultivated for its fiber, which serves as a raw material for the textile industry. It holds great significance in the global economy, being produced in over 100 countries and traded extensively as an agricultural commodity, involving approximately 150 countries in its export and import activities. Due to its substantial role in international trade and its potential to enhance the economies of numerous developing nations, cotton is considered a politically significant crop.

In numerous countries, cotton exports not only contribute significantly to foreign exchange earnings but also account for a noteworthy proportion of the gross domestic product (GDP) and tax revenue. Particularly in Africa, cotton plays a vital role in economic growth, with 37 out of the 53 African countries engaging in cotton production and 30 of them serving as exporters. Additionally, several Central Asian countries, including Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan, heavily rely on cotton exports.

The cotton industry is currently witnessing substantial growth, driven by the expansion of global textile mills and the clothing manufacturing market. According to data from the Food and Agriculture Organization (FAO), cotton production (in the form of seed cotton, unginned) has increased from 71.9 million metric tons in 2018 to 73.7 million metric tons in 2021. Despite the majority of cotton processing occurring in the main producing countries, it remains an export crop.

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