Australia and Oceania: Wool Market 2024

Wool Market Size in Australia and Oceania

The wool market in Australia and Oceania reduced to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when the market value decreased by X%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wool Production in Australia and Oceania

In value terms, wool production shrank to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wool Exports

Exports in Australia and Oceania

In 2022, the amount of wool exported in Australia and Oceania declined modestly to X tons, waning by X% compared with 2021 figures. Overall, exports recorded a noticeable decline. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wool exports expanded to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, New Zealand (X tons) represented the largest exporter of wool, achieving X% of total exports. It was distantly followed by Australia (X tons), comprising a X% share of total exports.

New Zealand was also the fastest-growing in terms of the wool exports, with a CAGR of X% from 2012 to 2022. Australia (X%) illustrated a downward trend over the same period. While the share of New Zealand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) and Australia ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Australia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%).

Wool Imports

Imports in Australia and Oceania

In 2022, the amount of wool imported in Australia and Oceania contracted to X tons, declining by X% compared with 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, wool imports totaled $X in 2022. Over the period under review, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Australia dominates imports structure, reaching X tons, which was near X% of total imports in 2022. The following importers - Fiji (X tons) and New Zealand (X tons) - each amounted to a X% share of total imports.

Imports into Australia increased at an average annual rate of X% from 2012 to 2022. At the same time, Fiji (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. By contrast, New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported wool in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at X%. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Fiji (X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Fiji (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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