Norway: Woolen Fabric Market 2024

Woolen Fabric Market Size in Norway

After three years of growth, the Norwegian woolen fabric market decreased by -75.4% to $X in 2021. In general, consumption faced a abrupt shrinkage. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Woolen Fabric Production in Norway

In value terms, woolen fabric production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 9.8% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then declined modestly in the following year.

Woolen Fabric Exports

Exports from Norway

In 2021, shipments abroad of woven woolen fabrics increased by 37% to X square meters for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -3.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. The exports peaked at X square meters in 2018; afterwards, it flattened through to 2021.

In value terms, woolen fabric exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 36% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X square meters) was the main destination for woolen fabric exports from Norway, with a 80% share of total exports. Moreover, woolen fabric exports to Denmark exceeded the volume sent to the second major destination, Sweden (X square meters), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Denmark amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+1.1% per year) and Lithuania (+5.4% per year).

In value terms, Denmark ($X) remains the key foreign market for woven woolen fabrics exports from Norway, comprising 73% of total exports. The second position in the ranking was taken by Sweden ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+1.9% per year) and Lithuania (+2.0% per year).

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, reducing by -1.9% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2014 an increase of 7.4%. The export price peaked at $X per square meter in 2012; however, from 2013 to 2021, 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 Sweden ($X per square meter), while the average price for exports to Denmark ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+0.8%), while the prices for the other major destinations experienced a decline.

Woolen Fabric Imports

Imports into Norway

In 2021, after three years of decline, there was significant growth in overseas purchases of woven woolen fabrics, when their volume increased by 5.1% to X square meters. Overall, imports, however, saw a deep contraction. Imports peaked at X square meters in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, woolen fabric imports rose notably to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The UK (X square meters), Italy (X square meters) and Sweden (X square meters) were the main suppliers of woolen fabric imports to Norway, together accounting for 49% of total imports. These countries were followed by Portugal, Denmark, Lithuania, Austria, Germany, Vietnam, China, Peru, Poland and Belgium, which together accounted for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +51.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Italy ($X) and Sweden ($X) constituted the largest woolen fabric suppliers to Norway, together accounting for 48% of total imports. These countries were followed by Portugal, Germany, Vietnam, Austria, Lithuania, Denmark, Peru, Poland, Belgium and China, which together accounted for a further 42%.

Peru, with a CAGR of +44.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, increasing by 7.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 17%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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