U.S. cotton exports accounted for one third of the global market’s value in 2021

The United States is the global leader in cotton exports by value, holding a 33-percent share ($5.7 billion) of the global export market in 2021. U.S. cotton exports expanded to $8.9 billion in 2022 and, while U.S. cotton exports in 2023 are expected to be lower than 2022 levels, USDA’s 10-year projections for U.S. exports indicate growth in the long term. In 2021, the most recent year for which complete global data are available, U.S. exports of cotton totaled nearly 3 million metric tons, 47 percent more volume than the next highest exporter, Brazil. Other major competitors in the global cotton market include Australia, India, and the European Union, with 2021 market shares (in terms of value) ranging from 5 to 15 percent each, as well as several exporters from Africa, including Benin, Burkina Faso, and Côte d’Ivoire. In addition to maintaining the largest share of the aggregate global market, the United States is a key supplier to several top importer markets. For example, in 2021, U.S. cotton accounted, by value, for 39 percent of cotton imports to China, the top cotton importer in the world. Other top destinations for U.S. cotton exports include Vietnam, Turkey, Pakistan, and Mexico. These countries combined with China, accounted for more than 70 percent of U.S. cotton exports in 2021. This chart is drawn from the USDA, Economic Research Service report, U.S. Export Competitiveness in Select Crop Markets, March 2023.