The import of cotton yarn put up for retail sale to Belgium demonstrated fluctuating trends between 2013 and 2023. In 2013, the import value was significantly high at 3.7481 million US dollars; however, it experienced a declining trend, reaching 2.6249 million US dollars in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was marginally positive at 0.32%. Notably, year-on-year variation showed positive growth in selective years like 2014, 2016, 2017, 2019, and 2021 but predominantly exhibited negative trends in others.
Looking forward, Belgium's cotton yarn import is forecasted to continue a steady decline. From 2024 to 2028, the projected CAGR is -0.9%, with 2028 forecasted to see imports dip to 2.4801 million US dollars, reflecting a 4.41% decrease over the five-year period.
Future trends to watch for:
- The global cotton market dynamics influenced by changes in cotton production, demand, and trade policies.
- Technological advancements in yarn manufacturing which could impact global supply chains.
- Sustainability initiatives and regulatory changes within the EU that might lead to either increased or reduced import reliance on cotton yarn.
- The potential impact of economic conditions and inflation rates on the retail sector and purchasing behaviors.