Middle East: Wool Market 2024

Wool Market Size in the Middle East

In 2022, the Middle Eastern wool market decreased by X% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wool Production in the Middle East

In value terms, wool production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Wool Exports

Exports in the Middle East

In 2022, shipments abroad of wool decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a prominent increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, wool exports reduced remarkably to $X in 2022. Over the period under review, exports showed a mild slump. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) and Syrian Arab Republic (X tons) represented roughly X% of total exports in 2022. Iran (X tons) ranks next in terms of the total exports with a X% share, followed by Saudi Arabia (X%). The United Arab Emirates (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Syrian Arab Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wool supplying countries in the Middle East were Turkey ($X), Syrian Arab Republic ($X) and Iran ($X), with a combined X% share of total exports.

Syrian Arab Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, dropping by X% against the previous year. Overall, the export price recorded a abrupt decline. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (X%), while the other leaders experienced a decline in the export price figures.

Wool Imports

Imports in the Middle East

In 2022, the amount of wool imported in the Middle East shrank to X tons, with a decrease of X% compared with the previous year's figure. In general, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wool imports contracted to $X in 2022. Overall, imports showed a perceptible descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Iran (X tons), Turkey (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest wool importing markets in the Middle East were Iran ($X), the United Arab Emirates ($X) and Turkey ($X), together accounting for X% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price showed a slight downturn. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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