Norway: Woolen Yarn Market 2024

Woolen Yarn Market Size in Norway

The Norwegian woolen yarn market surged to $X in 2021, rising by 27% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +17.5% against 2018 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Woolen Yarn Production in Norway

In value terms, woolen yarn production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production reached the peak level of $X, and then fell in the following year.

Woolen Yarn Exports

Exports from Norway

In 2021, overseas shipments of yarn of wool increased by 39% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +93.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 40% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, woolen yarn exports surged to $X in 2021. Overall, exports saw a prominent expansion. The growth pace was the most rapid in 2020 when exports increased by 63% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for woolen yarn exports from Norway, accounting for a 55% share of total exports. Moreover, woolen yarn exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+4.6% per year) and the UK (+70.8% per year).

In value terms, Sweden ($X) remains the key foreign market for yarn of wool exports from Norway, comprising 53% of total exports. The second position in the ranking was taken by Denmark ($X), with a 21% share of total exports. It was followed by the UK, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Sweden stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+12.7% per year) and the UK (+68.2% per year).

Export Prices by Country

In 2021, the average woolen yarn export price amounted to $X per ton, picking up by 5.3% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, woolen yarn export price increased by +55.6% against 2015 indices. The most prominent rate of growth was recorded in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Norway

In 2021, approx. X tons of yarn of wool were imported into Norway; rising by 39% on the previous year's figure. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, woolen yarn imports soared to $X in 2021. In general, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Peru (X tons), China (X tons) and Romania (X tons) were the main suppliers of woolen yarn imports to Norway, together comprising 61% of total imports. These countries were followed by Italy, Germany, Turkey, the Czech Republic, the UK, Austria, Spain and Bulgaria, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woolen yarn suppliers to Norway were Peru ($X), Romania ($X) and China ($X), with a combined 59% share of total imports. Italy, Germany, the Czech Republic, Turkey, the UK, Austria, Spain and Bulgaria lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +19.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average woolen yarn import price stood at $X per ton in 2021, picking up by 2.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2018 an increase of 14%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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