Ireland: Wool Market Overview 2020

Wool Market Size in Ireland

The revenue of the wool market in Ireland amounted to $X in 2018, falling by -X% against the previous year. Over the period under review, wool consumption continues to indicate a significant deduction. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Wool consumption peaked at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Wool Production in Ireland

In value terms, wool production amounted to $X in 2018 estimated in export prices. In general, wool production continues to indicate a mild increase. The most prominent rate of growth was recorded in 2018 when production volume increased by X% against the previous year. In that year, wool production attained its peak level and is likely to continue its growth in the immediate term.

Wool Exports

Exports from Ireland

Wool exports from Ireland stood at X tonnes in 2018, increasing by X% against the previous year. Over the period under review, wool exports continue to indicate a skyrocketing increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, wool exports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, wool exports stood at $X in 2018. Overall, wool exports continue to indicate an outstanding increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, wool exports attained their peak figure in 2018 and are likely to see steady growth in the near future.

Exports by Country

China (X tonnes) was the main destination for wool exports from Ireland, accounting for a X% share of total exports. Moreover, wool exports to China exceeded the volume sent to the second major destination, the UK (X tonnes), threefold.

From 2007 to 2018, the average annual growth rate of volume to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+X% per year) and India (+X% per year).

In value terms, the largest markets for wool exported from Ireland were the UK ($X), China ($X) and India ($X), together comprising X% of total exports.

The UK (+X% per year) recorded the highest growth rate of exports, in terms of the main countries of destination over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average wool export price amounted to $X per tonne, increasing by X% against the previous year. Overall, the wool export price, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2016 an increase of X% year-to-year. Over the period under review, the average export prices for wool reached their maximum at $X per tonne in 2009; however, from 2010 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the UK ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to the UK, while the prices for the other major destinations experienced a decline.

Wool Imports

Imports into Ireland

In 2018, approx. X tonnes of wool were imported into Ireland; going down by -X% against the previous year. Over the period under review, wool imports, however, continue to indicate a remarkable expansion. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, wool imports attained their peak figure at X tonnes in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, wool imports stood at $X in 2018. Overall, wool imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, wool imports reached their maximum at $X in 2017, leveling off in the following year.

Imports by Country

In 2018, Australia (X tonnes) constituted the largest supplier of wool to Ireland, accounting for a X% share of total imports. Moreover, wool imports from Australia exceeded the figures recorded by the second-largest supplier, the UK (X tonnes), twofold.

From 2007 to 2018, the average annual growth rate of volume from Australia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and New Zealand (+X% per year).

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

From 2007 to 2018, the average annual rate of growth in terms of value from Australia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and New Zealand (+X% per year).

Import Prices by Country

The average wool import price stood at $X per tonne in 2018, increasing by X% against the previous year. Overall, the wool import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% against the previous year. In that year, the average import prices for wool attained their peak level of $X per tonne. From 2013 to 2018, the growth in terms of the average import prices for wool failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($X per tonne), while the price for New Zealand ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform