Iran: Wool Market 2024

Wool Market Size in Iran

In 2022, after two years of decline, there was growth in the Iranian wool market, when its value increased by 1.1% to $X. In general, consumption saw a deep slump. 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 Iran

In value terms, wool production totaled $X in 2022 estimated in export price. In general, production continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 8.4%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Wool Exports

Exports from Iran

In 2022, the amount of wool exported from Iran reduced to X tons, with a decrease of -9.6% on the previous year's figure. In general, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wool exports contracted to $X in 2022. Overall, exports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2015 with an increase of 92%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for wool exports from Iran, accounting for a 53% share of total exports. Moreover, wool exports to India exceeded the volume sent to the second major destination, China (X tons), twofold. Turkey (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.3% per year) and Turkey (+24.8% per year).

In value terms, India ($X) remains the key foreign market for wool exports from Iran, comprising 72% of total exports. The second position in the ranking was held by Turkey ($X), with a 12% share of total exports. It was followed by China, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to India stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+19.8% per year) and China (+19.4% per year).

Export Prices by Country

The average wool export price stood at $X per ton in 2022, with an increase of 3.1% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China ($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 India (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Wool Imports

Imports into Iran

Wool imports into Iran fell slightly to X tons in 2022, which is down by -1.8% against 2021. In general, imports saw a noticeable reduction. The growth pace was the most rapid in 2019 with an increase of 81%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wool imports declined modestly to $X in 2022. Over the period under review, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 86%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), New Zealand (X tons) and Australia (X tons) were the main suppliers of wool imports to Iran, together comprising 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +10.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of wool to Iran, comprising 63% of total imports. The second position in the ranking was held by New Zealand ($X), with a 27% share of total imports. It was followed by Australia, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-9.5% per year) and Australia (-26.6% per year).

Import Prices by Country

In 2022, the average wool import price amounted to $X per ton, which is down by -2% against the previous year. Overall, the import price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for New Zealand ($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 (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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