Italy's Woolen Yarn Exports Experience a Minor Decline to $603M in 2023 - News and Statistics - IndexBox

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In 2023, shipments abroad of yarn of wool decreased by -10.5% to 18K tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports saw a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by 26% against the previous year. The exports peaked at 27K tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, woolen yarn exports shrank to $603M (IndexBox estimates) in 2023. In general, exports saw a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Over the period under review, the exports attained the maximum at $706M in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

the UK (2.4K tons), Portugal (1.9K tons) and Germany (1.6K tons) were the main destinations of woolen yarn exports from Italy, together accounting for 32% of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +9.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($58M), the UK ($48M) and France ($48M) appeared to be the largest markets for woolen yarn exported from Italy worldwide, together accounting for 26% of total exports. Hong Kong, Romania, Turkey, Portugal and China lagged somewhat behind, together accounting for a further 33%.

Portugal, with a CAGR of +10.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Yarn of combed wool, not put up for retail sale (7.6K tons), yarn of carded wool, not put up for retail sale (6.7K tons) and yarn of wool or of fine animal hair, put up for retail sale (2.9K tons) were the main products of woolen yarn exports from Italy, with a combined 93% share of total exports. Yarn of fine animal hair (carded or combed), not put up for retail sale and yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale lagged somewhat behind, together comprising a further 6.6%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale (with a CAGR of +12.6%), while the other products experienced mixed trend patterns.

In value terms, yarn of wool with the largest exports in Italy were yarn of combed wool, not put up for retail sale ($243M), yarn of carded wool, not put up for retail sale ($149M) and yarn of fine animal hair (carded or combed), not put up for retail sale ($117M), together comprising 84% of total exports. Yarn of wool or of fine animal hair, put up for retail sale and yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale lagged somewhat behind, together comprising a further 16%.

In terms of the main product categories, yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale, with a CAGR of +15.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced mixed trend patterns.

In 2023, the woolen yarn price stood at $32,759 per ton (FOB, Italy), rising by 9.6% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 an increase of 13%. Over the period under review, the average export prices attained the maximum in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Hong Kong ($58,416 per ton), while the average price for exports to the Netherlands ($7,857 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the woolen yarn market in Italy. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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