From 2013 to 2023, the import of cotton into Belgium has indicated a clear downward trend with relatively minor fluctuations. In 2023, the value stood at 214.17 million USD, reflecting steady declines in annual values. Year-on-year variations were mostly negative, showing a consistent de-escalation, with only a few exceptions like in 2017 when a slight increase was observed. The compound annual growth rate (CAGR) over the last five years up to 2023 was -6.2%, reinforcing the overall downward trajectory.
Projected future data continues to indicate a significant drop, with a -8.12% forecasted five-year CAGR up to 2028. This suggests an ongoing decrease in imports, potentially driven by changing market conditions, shifts in global trade policies, or a declining demand for cotton in Belgium.
Future trends to watch for include:
- Variations in global cotton production affecting prices and availability.
- Shifts in EU trade regulations and their impact on cotton imports.
- Changes in domestic production or alternative textile imports.