Africa: Woolen Yarn Market 2024

Woolen Yarn Market Size in Africa

The African woolen yarn market skyrocketed to $X in 2023, increasing by X% against the previous year. Overall, consumption, however, recorded a noticeable contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Woolen Yarn Production in Africa

In value terms, woolen yarn production expanded slightly to $X in 2023 estimated in export price. Overall, production, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Woolen Yarn Exports

Exports in Africa

In 2023, overseas shipments of yarn of wool decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, woolen yarn exports plummeted to $X in 2023. Total exports indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then dropped sharply in the following year.

Exports by Country

South Africa represented the key exporting country with an export of around X tons, which resulted at X% of total exports. Mauritius (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%). The following exporters - Egypt (X tons) and Tanzania (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to woolen yarn exports from South Africa stood at X%. At the same time, Tanzania (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Mauritius (X%) and Egypt (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Nigeria (X p.p.) and Tanzania (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Egypt (X p.p.) and Mauritius (X p.p.) displayed negative dynamics.

In value terms, the largest woolen yarn supplying countries in Africa were South Africa ($X), Mauritius ($X) and Egypt ($X), together comprising X% of total exports. Nigeria and Tanzania lagged somewhat behind, together comprising a further X%.

Tanzania, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, rising by X% against the previous year. In general, the export price continues to indicate a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritius (X%), while the other leaders experienced more modest paces of growth.

Woolen Yarn Imports

Imports in Africa

In 2023, the amount of yarn of wool imported in Africa amounted to X tons, increasing by X% compared with 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, woolen yarn imports fell to $X in 2023. Over the period under review, imports, however, continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Burkina Faso (X tons), distantly followed by Madagascar (X tons), Tunisia (X tons), Togo (X tons) and Morocco (X tons) were the major importers of yarn of wool, together mixing up X% of total imports. The following importers - Egypt (X tons), Nigeria (X tons), Mozambique (X tons) and Mauritius (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Madagascar ($X), Tunisia ($X) and Morocco ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Mauritius, Egypt, Burkina Faso, Togo, Nigeria and Mozambique lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, falling by X% against the previous year. Overall, the import price continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform