Pakistan: Wool Market 2024

Wool Market Size in Pakistan

In 2022, the Pakistani wool market increased by X% to $X, rising for the second consecutive year after five years of decline. Overall, consumption, however, faced a abrupt descent. Wool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wool Production in Pakistan

In value terms, wool production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Wool production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Wool Exports

Exports from Pakistan

In 2022, after two years of growth, there was significant decline in shipments abroad of wool, when their volume decreased by X% to X tons. In general, exports showed a precipitous slump. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wool exports reduced notably to $X in 2022. Over the period under review, exports showed a significant contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for wool exports from Pakistan, with a X% share of total exports. Moreover, wool exports to the United Arab Emirates exceeded the volume sent to the second major destination, India (X tons), fivefold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and the UK (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for wool exports from Pakistan, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and China (X% per year).

Export Prices by Country

The average wool export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, saw a pronounced descent. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to France ($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 Japan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Wool Imports

Imports into Pakistan

In 2022, supplies from abroad of wool increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, imports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, wool imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Iran (X tons), New Zealand (X tons) and Kuwait (X tons) were the main suppliers of wool imports to Pakistan, with a combined X% share of total imports. Saudi Arabia, Australia, Turkey and Syrian Arab Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wool suppliers to Pakistan were Iran ($X), New Zealand ($X) and Australia ($X), with a combined X% share of total imports. Syrian Arab Republic, Saudi Arabia, Turkey and Kuwait lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Syrian Arab Republic, 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 more modest paces of growth.

Import Prices by Country

The average wool import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average 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 Syrian Arab Republic ($X per ton), while the price for Kuwait ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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