Middle East: Woolen Yarn Market 2024

Woolen Yarn Market Size in the Middle East

In 2021, the Middle Eastern woolen yarn market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Woolen Yarn Production in the Middle East

In value terms, woolen yarn production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a deep slump. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Woolen Yarn Exports

Exports in the Middle East

In 2021, the amount of yarn of wool exported in the Middle East soared to X tons, with an increase of 31% compared with 2020. Overall, exports, however, showed a abrupt decrease. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, woolen yarn exports soared to $X in 2021. Over the period under review, exports, however, saw a pronounced reduction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey prevails in exports structure, accounting for X tons, which was approx. 97% of total exports in 2021. Iran (X tons) followed a long way behind the leaders.

Exports from Turkey decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Iran (+9.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.7% from 2012-2021. From 2012 to 2021, the share of Iran increased by +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest woolen yarn supplier in the Middle East, comprising 98% of total exports. The second position in the ranking was held by Iran ($X), with a 0.9% share of total exports.

In Turkey, woolen yarn exports plunged by an average annual rate of -3.4% over the period from 2012-2021.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, increasing by 5.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 an increase of 17% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%).

Woolen Yarn Imports

Imports in the Middle East

In 2021, purchases abroad of yarn of wool increased by 12% to X tons, rising for the second consecutive year after seven years of decline. Overall, imports, however, saw a deep downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, woolen yarn imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced descent. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Turkey prevails in imports structure, recording X tons, which was approx. 74% of total imports in 2021. Israel (X tons) held a 6.4% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (5.3%). The following importers - the United Arab Emirates (X tons), Lebanon (X tons), Qatar (X tons) and Iran (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to woolen yarn imports into Turkey stood at -3.5%. At the same time, Qatar (+29.8%) and Lebanon (+8.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +29.8% from 2012-2021. By contrast, Israel (-1.8%), Jordan (-3.2%), Iran (-12.8%) and the United Arab Emirates (-12.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Qatar, Israel, Lebanon and Jordan increased by +20, +2.6, +2.4, +2.2 and +1.5 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported yarn of wool in the Middle East, comprising 80% of total imports. The second position in the ranking was taken by Israel ($X), with a 6.3% share of total imports. It was followed by Jordan, with a 4.4% share.

In Turkey, woolen yarn imports declined by an average annual rate of -1.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (-0.3% per year) and Jordan (+1.1% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, rising by 5.6% against the previous year. Over the last nine years, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2018 when the import price increased by 19% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Iran ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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