Technical Textiles Market in Cuba
Market Overview
The Cuban technical textiles market was estimated at $
in , approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed mild growth. Over the period under review, the market hit record highs in and is likely to see steady growth in years to come.
In value terms, technical textiles production amounted to $ in estimated in export price. Overall, production, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2013 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in ; however, from to , production stood at a somewhat lower figure.
in , approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed mild growth. Over the period under review, the market hit record highs in and is likely to see steady growth in years to come.In value terms, technical textiles production amounted to $
in estimated in export price. Overall, production, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2013 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in ; however, from to , production stood at a somewhat lower figure.Consumption
In , approx. tons of textile products and articles for technical uses were consumed in Cuba; waning by -% against the previous year's figure. Overall, the total consumption indicated a slight increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. Over the period under review, consumption attained the peak volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.
The revenue of the technical textiles market in Cuba reached $ in , standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted a mild expansion. Technical textiles consumption peaked in and is expected to retain growth in the immediate term.
, approx. tons of textile products and articles for technical uses were consumed in Cuba; waning by -% against the previous year's figure. Overall, the total consumption indicated a slight increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. Over the period under review, consumption attained the peak volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.The revenue of the technical textiles market in Cuba reached $
in , standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted a mild expansion. Technical textiles consumption peaked in and is expected to retain growth in the immediate term.Market Forecast
Driven by increasing demand for textile products and articles for technical uses in Cuba, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Over the period under review, the share of imports in terms of total technical textiles consumption in Cuba was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Cuba technical textiles market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
% figure. In value terms the share of imports also stood at a low figure, which means that the Cuba technical textiles market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
Cuba remains a net importer of technical textiles; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $.
. In , there was a significant trade deficit of tons, which was equal to $.
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