BAKU, Azerbaijan, Mar. 3
By Klavdiya Romakayeva - Trend:
Uzbekistan ranked sixth among the largest cotton producers in the world, Trend reports referring to the Research and Markets (World's largest Market Research resource).
According to the research, India, China, Pakistan and the US are the largest cotton producers worldwide. The United States exports most of its cotton products because it has a less developed textile industry.
At the same time, Asian countries dominate in cotton production and are also among the largest consumers of cotton.
In addition, China, India, Pakistan, and Bangladesh are the largest cotton consumers worldwide, accounting for one of the highest global consumption.
Also, in recent years, Vietnam and Uzbekistan entered the list of the largest cotton consumers, taking sixth and seventh places, respectively.
However, Uzbekistan failed to get into the top eight cotton exporting countries. The first three places in this list are taken by the US, Brazil and India.
According to this study, the global cotton market is expected to reach $46.5 billion by 2027, with a compound annual growth rate of 2.74 percent from 2020 to 2027.
Earlier it was reported that Uzbekistan’s cotton exports in 2020 significantly dropped by 65.35 percent to $78.87 million compared to 2019 when its exports amounted to $227.61 million.
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