China’s cotton imports from the US soared to new highs in 2022. The US had imposed a ban on cotton and cotton products originating from the Xinjiang region of China in June 2022, which led to a steep rise in cotton imports by China.
China had imported cotton worth $1.601 billion in 2021 and imports reached $2.899 billion in the first eleven months of 2022.
The inbound trade increased to $1.604 billion in 2020 against imports of $731.486 million of 2019. China’s cotton imports were worth $1.063 billion in 2018 and $980.245 million in 2017, according to TexPro.
China’s imports were $1.744 billion in the first half (H1) of 2022 against the inbound shipment of $470.466 million in H2 2021, $1,130.774 million in H1 2021, $1,071.074 million in H2 2020 and $530.622 million in H1 2020, as per TexPro.
Last year, cotton prices skyrocketed in the global markets due to low production and a rise in consumption. It prompted Chinese importers to turn to the US. As the US has banned cotton produced in the Xinjiang region of the country, Chinese textile industry has no option but to import cotton from the US to maintain its exports of textile products to the world’s largest economy.