Ireland: Wool Market Overview 2021

Wool Market Size in Ireland

In 2020, the Irish wool market increased by X% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption continues to indicate a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wool Production in Ireland

In value terms, wool production declined to $X in 2020 estimated in export prices. Over the period under review, production, however, showed resilient growth. The growth pace was the most rapid in 2015 with an increase of X% year-to-year. As a result, production reached the peak level of $X. From 2016 to 2020, production growth failed to regain the momentum.

Wool Exports

Exports from Ireland

In 2020, overseas shipments of wool decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. Over the period under review, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Exports peaked at X tonnes in 2015; however, from 2016 to 2020, exports failed to regain the momentum.

In value terms, wool exports declined significantly to $X in 2020. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Exports peaked at $X in 2019, and then dropped rapidly in the following year.

Exports by Country

The UK (X tonnes) was the main destination for wool exports from Ireland, accounting for a approx. X% share of total exports.

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

In value terms, the UK ($X) also remains the key foreign market for wool exports from Ireland.

From 2007 to 2020, the average annual growth rate of value to the UK totaled -X%.

Export Prices by Country

In 2020, the average wool export price amounted to $X per tonne, surging by X% against the previous year. Overall, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. The export price peaked at $X per tonne in 2007; however, from 2008 to 2020, export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2007 to 2020, the rate of growth in terms of prices for the UK amounted to +X% per year.

Wool Imports

Imports into Ireland

In 2020, approx. X tonnes of wool were imported into Ireland; with a decrease of -X% compared with 2019 figures. In general, imports, however, showed measured growth. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2016; however, from 2017 to 2020, imports failed to regain the momentum.

In value terms, wool imports shrank remarkably to $X in 2020. Over the period under review, imports, however, saw a buoyant expansion. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Australia (X tonnes) constituted the largest supplier of wool to Ireland, with a X% share of total imports. Moreover, wool imports from Australia exceeded the figures recorded by the second-largest supplier, the UK (X tonnes), ninefold.

From 2007 to 2020, the average annual rate of growth in terms of volume 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).

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

From 2007 to 2020, the average annual rate of growth in terms of value from Australia stood at +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 2020, rising by X% against the previous year. Overall, the import price posted a prominent increase. The pace of growth was the most pronounced in 2012 an increase of X% against the previous year. As a result, import price reached the peak level of $X per tonne. From 2013 to 2020, the growth in terms of the average import prices remained at a lower figure.

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 2020, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced mixed trend patterns.

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. Russia, Brazil, Pakistan, Germany, the UK, Ethiopia, Lithuania, Denmark, Italy and South Korea lagged somewhat behind, together comprising 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), together accounting for 29% of global production. China, Pakistan, Brazil, Russia, Kazakhstan, Syrian Arab Republic, Turkey, Germany, the UK and Ethiopia lagged somewhat behind, together accounting for a further 34%.

What are the leading suppliers of wool to Ireland?

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In value terms, Australia ($1.3M) constituted the largest supplier of wool to Ireland, comprising 93% of total imports. The second position in the ranking was occupied by the UK ($61K), with a 4.5% share of total imports.

What are the leading importers of wool from Ireland?

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In value terms, the UK ($1.5M) remains the key foreign market for wool exports from Ireland.

What is the average export price for wool in Ireland?

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The average wool export price stood at $3,115 per tonne in 2020, surging by 8.4% against the previous year.

What is the average import price for wool in Ireland?

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The average wool import price stood at $9,446 per tonne in 2020, surging by 3.1% against the previous year.