Eastern Asia: Woolen Fabric Market 2024

Woolen Fabric Market Size in Eastern Asia

The East Asian woolen fabric market declined slightly to $X in 2023, stabilizing at the previous year. Over the period under review, consumption, however, recorded a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Woolen Fabric Production in Eastern Asia

In value terms, woolen fabric production fell modestly to $X in 2023 estimated in export price. Overall, production recorded a perceptible decline. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Woolen Fabric Exports

Exports in Eastern Asia

In 2023, after two years of growth, there was significant decline in overseas shipments of woven woolen fabrics, when their volume decreased by X% to X square meters. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The volume of export peaked at X square meters in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, woolen fabric exports shrank to $X in 2023. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2022 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, China (X square meters) was the largest exporter of woven woolen fabrics, mixing up X% of total exports. Japan (X square meters) ranks second in terms of the total exports with a X% share, followed by South Korea (X%). Hong Kong SAR (X square meters) held a minor share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. South Korea (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest woolen fabric supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per square meter in 2023, waning by X% against the previous year. In general, the export price showed a relatively flat trend pattern. 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 square meter. From 2015 to 2023, the export prices remained at a lower figure.

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 Hong Kong SAR ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Woolen Fabric Imports

Imports in Eastern Asia

After two years of growth, overseas purchases of woven woolen fabrics decreased by X% to X square meters in 2023. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, woolen fabric imports expanded remarkably to $X in 2023. Over the period under review, imports saw a noticeable descent. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

China represented the largest importing country with an import of around X square meters, which resulted at X% of total imports. Japan (X square meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%) and Hong Kong SAR (X%).

From 2012 to 2023, average annual rates of growth with regard to woolen fabric imports into China stood at X%. South Korea (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported woven woolen fabrics in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per square meter, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in South Korea ($X per square meter) and Hong Kong SAR ($X per square meter), while China ($X per square meter) and Japan ($X per square meter) were amongst the lowest.

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

Source: IndexBox Platform