• Analysis and Studies
• Wool: import and export

In 2022, wool ranked as the 663rd most traded product globally, with a total trade value of $3.28 billion. This represents a decline of 3.87% compared to 2021, when trade totaled $3.41 billion. Despite its relatively small share of global trade (0.014%), wool remains essential for various industries.

Composition of Wool Trade

Wool is classified under the broader category of "Wool & animal hair" and includes several forms such as:

• Greasy shorn wool: Raw wool that has not been cleaned or processed.
• Degreased shorn wool: Wool that has been partially cleaned but not further processed.
• Carbonized wool: Wool is treated to remove impurities such as vegetable matter.
• Other degreased wool: Like degreased wool but not specified in other categories.
• Greasy wool (non-shorn): Wool that comes from sources other than shearing.

Export Landscape

In 2022, Australia dominated wool exports with a value of $2.22 billion, accounting for most of the trade. Other significant exporters included South Africa ($301 million), New Zealand ($275 million), Uruguay ($54.8 million), and the United Kingdom ($53.6 million). These countries benefit from abundant sheep farming and well-established wool industries.

Import Dynamics

China was the largest importer of wool in 2022, purchasing $2.16 billion worth—nearly two-thirds of the global trade. Other major importers included Italy ($223 million), India ($205 million), Czechia ($123 million), and Germany ($85 million). These countries play a significant role in processing raw wool into finished products, such as textiles and carpets.

Complexity and Applications

Wool ranks 1000th on the Product Complexity Index (PCI), indicating a moderate level of technical sophistication in its trade and processing. Wool is predominantly used to manufacture woolen fabrics and carpets, prized for their durability, insulation, and aesthetic qualities.

Conclusion

The wool trade continues to be a vital component of the global textile market, despite a slight decline in trade volume. Australia's dominance as an exporter and China's role as the largest importer highlight the concentration of production and processing within specific regions. Wool's versatility and demand in high-quality textiles ensure its ongoing significance in global trade.

Key Wool Exporters (2022)

In 2022, the nations with the largest net positive trade balance in wool (exporting significantly more than they imported) were:

• Australia: Leading the list with a substantial surplus of $2.22 billion.
• New Zealand: Following with a trade surplus of $274 million.
• South Africa: Registering a surplus of $262 million.
• Lesotho: Notable with a surplus of $51.5 million.
• Argentina: Adding to the list with a surplus of $32.3 million.

These countries are dominant players in wool production, driven by their strong agricultural sectors and significant contributions to the global textile industry.

 Key Wool Importers (2022)

Conversely, the countries with the largest net negative trade balance in wool (importing significantly more than they exported) were:

• China: Topping the list with a massive deficit of $2.12 billion, reflecting its role as a global hub for wool processing and textile manufacturing.
• Italy: A major importer with a deficit of $214 million, underscoring its renowned textile and fashion industries.
• India: Recording a deficit of $204 million, driven by its growing demand for wool in textile production.
• Czechia: Showing a deficit of $123 million, likely tied to its role in European textile supply chains.
• Germany: With a deficit of $63.7 million, reflecting its industrial use of wool in textiles.

Data from BACI HS6 REV. 1992 (1995 - 2022),. BACI HS6 REV. 1992 (1995 - 2022),. and BACI HS6 REV. 1992 (1995 - 2022).

Source: https://oec.world/en