China cotton yarn imports in 2023

I. The monthly average import volume of cotton yarn in 2023

According to the latest customs data, the import volume of cotton yarn in China for December 2023 was approximately 141,300 tons, which is almost the same as the import volume in November. The total import volume of cotton yarn for the whole year of 2023 reached 1.5555 million tons, showing a significant increase of 41.9% compared to 1.096 million tons in 2022. The lowest import volume for the year was recorded in January at 55,200 tons, while the highest was in September at 175,000 tons. The monthly average import volume was approximately 129,600 tons.

II. China's cotton yarn imports by origin in 2023

In 2023, Vietnam came first as the largest origin for China's cotton yarn imports, with a total import volume of 667,300 tons, accounting for approximately 43% of the total imports, which is a significant decrease compared to 56% in 2022. Pakistan ranked second as the source of imports, with a total import volume of 270,000 tons, accounting for 17% (compared to 13% in 2022). India closely followed in the third position, with a total import volume of 248,000 tons, accounting for 16%, more than four times the import volume in 2022, which was 56,400 tons. Uzbekistani cotton yarn imports in 2023 totaled approximately 130,000 tons, accounting for 8%, which is 1.5 times the import volume in 2022. Recently, due to the narrowing of profits, Indian and Vietnamese yarn sales have been greatly affected, while the advantage of Pakistani low-priced yarn continues, with imports surpassing 30,000 tons in December and its market share continuing to increase.

III. The import value of cotton yarn in 2023

The cumulative import value of cotton yarn in China reached $4.067 billion in 2023, with an average import price of $2.61/kg. The imported cotton yarn came from a total of 40 regions (excluding re-imports). Switzerland had the highest average import price, at approximately $114/kg, followed by Peru and Tunisia, both at $51.32/kg. The lowest average import prices were from Bangladesh and Myanmar, both at $1.15/kg, and Cambodia at $1.05/kg. In the Southeast Asia and Central Asia regions, which are relatively concentrated sources for China's cotton yarn imports, the import prices are generally lower. The import price for Indian yarn is $2.85/kg, slightly higher than that from Malaysia, Indonesia, Vietnam, and other countries. The significant increase in the import volume of Indian combed yarn is the main reason for the higher import price of Indian yarn in 2023.

IV. China's cotton yarn imports by structure in 2023

The largest import volume of cotton yarn in China in 2023 was concentrated in imported uncombed single yarn 8-25s, totaling approximately 759,400 metric tons, but its proportion decreased from nearly 60% in 2022 to 48.82%. At the same time, there was a rapid increase in the import volume of combed yarn, with a total import volume of 217,700 tons for combed single yarn 30-47s, accounting for 14.09% and ranking second in terms of import varieties. The total import volume for uncombed single yarn below 8s was 212,800 tons (13.68%) and ranked third. Coarse-count yarn still remains the main variety for China's cotton yarn imports. In recent years, the competition between imported yarn and domestic yarn has become increasingly fierce, and the import of low-count yarn will continue to dominate under the orientation of differentiated management.

V. China's cotton yarn imports by locations of importers in 2023

In 2023, China's cotton yarn imports by locations of importers did not change significantly compared to the previous year. Zhejiang province ranked first with a total import volume of 382,200 tons, followed by a significant increase in import volume in Fujian province, with a total of 362,900 metric tons. Guangdong province had a total import volume of 216,200 tons, while Shanghai had 168,500 tons. Other provinces and regions had cotton yarn imports below 100,000 tons. Among them, Shanghai and Beijing experiencing a decrease in import volume compared to 2022. In terms of import value, Fujian province took the lead with $978 million, primarily due to its relatively large import volume of high-priced Indian yarn. Meanwhile, the imports of Zhejiang Province was mainly composed of coarse-count yarn, with a total import value of approximately $890 million in 2023.