Malaysia: Wool Market 2024

Wool Market Size in Malaysia

The Malaysian wool market declined to $X in 2022, with a decrease of X% against the previous year. Overall, consumption recorded a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wool Production in Malaysia

In value terms, wool production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Wool Exports

Exports from Malaysia

In 2022, shipments abroad of wool decreased by X% to X tons, falling for the sixth year in a row after three years of growth. Overall, exports, however, saw a measured expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, wool exports contracted dramatically to $X in 2022. In general, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for wool exports from Malaysia, with a X% share of total exports. Moreover, wool exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Italy (X tons), fourfold. Lithuania (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Lithuania (X% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for wool exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average wool export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The growth pace was the most rapid in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wool Imports

Imports into Malaysia

In 2022, purchases abroad of wool decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wool imports amounted to $X in 2022. In general, imports faced a dramatic downturn. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) was the main wool supplier to Malaysia, with a X% share of total imports. Moreover, wool imports from Australia exceeded the figures recorded by the second-largest supplier, the UK (X tons), sixfold.

From 2012 to 2022, 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 ($X) constituted the largest supplier of wool to Malaysia, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports.

From 2012 to 2022, 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: New Zealand (X% per year) and the UK (X% per year).

Import Prices by Country

The average wool import price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price faced a dramatic decline. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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