Africa: Wool Market 2024

Wool Market Size in Africa

The African wool market reduced modestly to $X in 2022, with a decrease of -1.8% against the previous year. Over the period under review, consumption, however, recorded a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wool Production in Africa

In value terms, wool production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Wool Exports

Exports in Africa

In 2022, the amount of wool exported in Africa declined remarkably to X tons, dropping by -37.9% compared with the year before. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 59%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, wool exports contracted sharply to $X in 2022. In general, exports saw a deep contraction. The growth pace was the most rapid in 2013 with an increase of 28% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Algeria (X tons) and Tunisia (X tons) represented roughly 75% of total exports in 2022. Egypt (X tons) held the next position in the ranking, followed by Libya (X tons). All these countries together held approx. 20% share of total exports. South Africa (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Algeria (with a CAGR of +59.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest wool supplying countries in Africa were Egypt ($X), Algeria ($X) and Tunisia ($X), with a combined 78% share of total exports.

Among the main exporting countries, Algeria, with a CAGR of +44.5%, recorded the highest growth rate of the value of exports, 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 Africa amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+11.6%), while the other leaders experienced a decline in the export price figures.

Wool Imports

Imports in Africa

In 2022, wool imports in Africa dropped rapidly to X tons, waning by -19.3% against the year before. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, wool imports dropped dramatically to $X in 2022. Over the period under review, imports showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 210%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Egypt was the major importer of wool in Africa, with the volume of imports amounting to X tons, which was near 55% of total imports in 2022. Morocco (X tons) ranks second in terms of the total imports with a 20% share, followed by South Africa (12%). Mauritius (X tons), Tunisia (X tons), Lesotho (X tons) and Algeria (X tons) took a relatively small share of total imports.

Egypt was also the fastest-growing in terms of the wool imports, with a CAGR of +8.2% from 2012 to 2022. At the same time, Algeria (+6.0%), Lesotho (+5.4%) and Morocco (+2.3%) displayed positive paces of growth. By contrast, Tunisia (-13.3%), South Africa (-22.2%) and Mauritius (-22.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Egypt and Morocco increased by +44 and +13 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported wool in Africa, comprising 54% of total imports. The second position in the ranking was taken by Morocco ($X), with a 19% share of total imports. It was followed by South Africa, with an 11% share.

In Egypt, wool imports increased at an average annual rate of +10.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (+1.4% per year) and South Africa (-12.9% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, which is down by -11.5% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wool import price increased by +54.3% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 74% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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