June 17, 2024

Iran Emerges Top Cotton Consumer In West Asia, Ranks Among Top 15 Globally

Iran’s cotton consumption for the 2023-24 period is forecasted to surpass the previous year’s record, reaching 900,000 bales. The majority of cotton yarn is utilized for domestic textiles and products. Despite a decade of stagnant cotton production, hovering around 300,000 bales, imports have surged to over 500,000 bales to meet the escalating domestic demand. Primary suppliers include neighbouring countries such as Tajikistan, Turkey and Uzbekistan.

Over the past four years, Iran has witnessed a remarkable surge in cotton consumption, with a nearly 40 per cent increase, positioning it as one of the largest cotton consumers in West Asia and ranking among the top 15 globally. The textile and garment industries have capitalized on lower electricity and labour costs compared to other major manufacturing hubs. Investments in air-jet and rotor machinery have significantly augmented Iran’s spinning capacity, as evidenced by data from the International Textile Manufacturers Federation.

Despite doubling of cotton textile imports since 2019, they still comprise less than half the volume of cotton fibre imports. Notably, Iran’s exports of cotton fabric and products remain marginal, with the majority of textiles redirected towards domestic apparel and home textile production for internal consumption. This shift towards domestically produced apparel is partly attributed to reduced access to imported products amidst a depreciating currency and ongoing economic sanctions.

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