Mexico: Woolen Fabric Market 2024

Woolen Fabric Market Size in Mexico

In 2023, the Mexican woolen fabric market increased by X% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, saw a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Woolen Fabric Production in Mexico

In value terms, woolen fabric production fell modestly to $X in 2023 estimated in export price. In general, production showed a deep reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Woolen fabric production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Woolen Fabric Exports

Exports from Mexico

In 2023, overseas shipments of woven woolen fabrics decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. In general, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X square meters in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, woolen fabric exports dropped to $X in 2023. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X square meters) was the main destination for woolen fabric exports from Mexico, with a X% share of total exports. Moreover, woolen fabric exports to the United States exceeded the volume sent to the second major destination, Guatemala (X square meters), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the United States ($X) remains the key foreign market for woven woolen fabrics exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

In 2023, the average woolen fabric export price amounted to $X per square meter, growing by X% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, woolen fabric export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2014 an increase of X%. The export price peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per square meter), while the average price for exports to the United States stood at $X per square meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into Mexico

Woolen fabric imports into Mexico contracted to X square meters in 2023, reducing by X% on 2022. In general, imports continue to indicate a abrupt decline. The growth pace was the most rapid in 2022 when imports increased by X%. Over the period under review, imports hit record highs at X square meters in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, woolen fabric imports fell to $X in 2023. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Italy (X square meters) constituted the largest supplier of woolen fabric to Mexico, with a X% share of total imports. Moreover, woolen fabric imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X square meters), fivefold. The third position in this ranking was held by Peru (X square meters), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Peru (X% per year).

In value terms, Italy ($X) constituted the largest supplier of woven woolen fabrics to Mexico, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Peru (X% per year).

Import Prices by Country

In 2023, the average woolen fabric import price amounted to $X per square meter, dropping by X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, woolen fabric import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2021 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform