Belgium: Wool Market 2024

Wool Market Size in Belgium

In 2022, the Belgian wool market increased by X% to $X, rising for the second consecutive year after eight years of decline. In general, consumption, however, continues to indicate a deep downturn. Wool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wool Production in Belgium

In value terms, wool production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Wool production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Wool Exports

Exports from Belgium

In 2022, after four years of growth, there was decline in shipments abroad of wool, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, wool exports declined to $X in 2022. Over the period under review, exports showed a pronounced slump. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Austria (X tons) and France (X tons) were the main destinations of wool exports from Belgium, with a combined X% share of total exports. The Netherlands, Switzerland, the UK, Portugal, Japan and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for wool exports from Belgium, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (X% per year) and France (X% per year).

Export Prices by Country

The average wool export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price saw a noticeable reduction. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced a decline.

Wool Imports

Imports into Belgium

In 2022, overseas purchases of wool increased by X% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports, however, faced a deep downturn. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wool imports rose sharply to $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest wool supplier to Belgium, with a X% share of total imports. Moreover, wool imports from New Zealand exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Turkey (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of wool to Belgium, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and France (X% per year).

Import Prices by Country

The average wool import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, recorded a noticeable decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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