With production rebounding, the United States is expected to reclaim its status as the top cotton exporter in 2024/25, as per the June 2024 World Agricultural Supply and Demand Estimates (WASDE) report by USDA.

In the 2023/24 season, Brazil surpassed the US to become the world's largest cotton exporter, with exports reaching 12.4 million bales. Brazil's cotton production during the 2023/24 season is estimated to have hit a record 14.6 million bales under favorable conditions, while US production declined due to drought in the Southwest.

For over a century, the United States has been the world's leading raw cotton exporter, a position it has rarely relinquished. The most recent exception was during the marketing year 1992/93 spanning August–July, when Uzbekistan took the lead. Historically, US-grown cotton primarily was supplied to domestic mills, but by the early 2000s, raw cotton exports became predominant.

The expansion of textile and apparel product exports from countries like China, following the phase-out of import quotas in developed countries, shifted the destination of US-grown cotton to foreign mills. This shift led to increased competition from other cotton-producing nations. Recently, Brazil has emerged as a significant competitor, driven by the expansion of cotton production in its Center-West region.