EU: Wool Market 2024

Wool Market Size in the EU

The EU wool market declined to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wool Production in the EU

In value terms, wool production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Wool Exports

Exports in the EU

In 2022, overseas shipments of wool increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a slight setback. 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 tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wool exports reduced to $X in 2022. Over the period under review, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) and Germany (X tons) represented roughly X% of total exports in 2022. Spain (X tons) held the next position in the ranking, followed by France (X tons), Portugal (X tons) and Italy (X tons). All these countries together took near X% share of total exports. Latvia (X tons) took a minor share of total exports.

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

In value terms, the largest wool supplying countries in the European Union were Germany ($X), Belgium ($X) and Italy ($X), together accounting for X% of total exports. Spain, France, Portugal and Latvia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Latvia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Italy ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other leaders experienced more modest paces of growth.

Wool Imports

Imports in the EU

Wool imports fell modestly to X tons in 2022, approximately mirroring 2021. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wool imports rose rapidly to $X in 2022. Over the period under review, imports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Lithuania (X tons) and Germany (X tons) represented roughly X% of total imports in 2022. Portugal (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (X%) and Poland (X%). Hungary (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Lithuania (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Italy ($X) constitutes the largest market for imported wool in the European Union, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

In Italy, wool imports plunged by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a pronounced setback. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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