Greece: Wool Market Overview 2021

Wool Market Size in Greece

In 2020, the Greek wool market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2007; however, from 2008 to 2020, consumption remained at a lower figure.

Wool Production in Greece

In value terms, wool production fell slightly to $X in 2020 estimated in export prices. In general, production showed a perceptible setback. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2007; however, from 2008 to 2020, production failed to regain the momentum.

Wool Exports

Exports from Greece

In 2020, overseas shipments of wool decreased by -X% to X tonnes, falling for the sixth year in a row after four years of growth. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2012 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, wool exports skyrocketed to $X in 2020. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by X% y-o-y. Exports peaked at $X in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Russia (X tonnes) was the main destination for wool exports from Greece, with a X% share of total exports. Moreover, wool exports to Russia exceeded the volume sent to the second major destination, China (X tonnes), fourfold.

From 2007 to 2020, the average annual growth rate of volume to Russia amounted to +X%.

In value terms, Russia ($X) remains the key foreign market for wool exports from Greece, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Russia stood at +X%.

Export Prices by Country

The average wool export price stood at $X per tonne in 2020, rising by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per tonne in 2007; however, from 2008 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Russia ($X per tonne), while the average price for exports to China totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Russia.

Wool Imports

Imports into Greece

In 2020, approx. X tonnes of wool were imported into Greece; picking up by X% against the previous year. Over the period under review, imports, however, showed a deep downturn. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, wool imports soared to $X in 2020. Overall, imports, however, showed a abrupt downturn. Imports peaked at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, New Zealand (X tonnes) constituted the largest supplier of wool to Greece, accounting for a X% share of total imports. Moreover, wool imports from New Zealand exceeded the figures recorded by the second-largest supplier, Turkey (X tonnes), threefold.

From 2007 to 2020, the average annual rate of growth in terms of volume from New Zealand totaled -X%.

In value terms, New Zealand ($X) constituted the largest supplier of wool to Greece, comprising X% of total imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from New Zealand stood at -X%.

Import Prices by Country

The average wool import price stood at $X per tonne in 2020, with a decrease of -X% against the previous year. Over the period under review, the import price recorded a noticeable setback. The pace of growth was the most pronounced in 2011 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was New Zealand ($X per tonne), while the price for Turkey stood at $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool in the world?

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The countries with the highest volumes of wool consumption in 2020 were China (58K tonnes), India (44K tonnes) and the U.S. (44K tonnes), with a combined 33% share of global consumption. These countries were followed by Russia, Brazil, Pakistan, Germany, the UK, Ethiopia, Lithuania, Denmark, Italy and South Korea, which together accounted for a further 27%.

What are the largest producers of wool in the world?

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The countries with the highest volumes of wool production in 2020 were New Zealand (60K tonnes), the U.S. (42K tonnes) and Australia (29K tonnes), with a combined 29% share of global production. These countries were followed by China, Pakistan, Brazil, Russia, Kazakhstan, Syrian Arab Republic, Turkey, Germany, the UK and Ethiopia, which together accounted for a further 34%.

What are the leading suppliers of wool to Greece?

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In value terms, New Zealand ($518K) constituted the largest supplier of wool to Greece, comprising 83% of total imports. The second position in the ranking was occupied by Turkey ($76K), with a 12% share of total imports.

What are the leading importers of wool from Greece?

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In value terms, Russia ($471K) remains the key foreign market for wool exports from Greece, comprising 97% of total exports. The second position in the ranking was occupied by China ($16K), with a 3.2% share of total exports.

What is the average export price for wool in Greece?

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The average wool export price stood at $1,563 per tonne in 2020, surging by 41% against the previous year.

What is the average import price for wool in Greece?

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The average wool import price stood at $2,024 per tonne in 2020, falling by -21.6% against the previous year.