Peru: Wool Market 2025

Wool Market Size in Peru

The Peruvian wool market contracted to $X in 2022, waning by -3.7% against the previous year. Overall, consumption recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when the market value increased by 7.9% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wool Production in Peru

In value terms, wool production declined slightly to $X in 2022 estimated in export price. In general, production saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 9.7% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Wool Exports

Exports from Peru

After two years of growth, shipments abroad of wool decreased by -9.6% to X tons in 2022. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 1,055% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, wool exports dropped sharply to $X in 2022. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 551% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for wool exports from Peru, accounting for a 77% share of total exports. Moreover, wool exports to China exceeded the volume sent to the second major destination, Germany (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.3% per year) and India (+12.1% per year).

In value terms, China ($X), Germany ($X) and India ($X) appeared to be the largest markets for wool exported from Peru worldwide, with a combined 89% share of total exports.

India, with a CAGR of +23.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average wool export price amounted to $X per ton, waning by -9.8% against the previous year. Overall, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 an increase of 29%. The export price peaked at $X per ton in 2014; however, from 2015 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 (+10.3%), while the prices for the other major destinations experienced mixed trend patterns.

Wool Imports

Imports into Peru

In 2022, after nine years of decline, there was significant growth in supplies from abroad of wool, when their volume increased by 5.4% to X tons. Over the period under review, imports, however, faced a abrupt shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wool imports reached $X in 2022. In general, imports, however, recorded a sharp decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 8.8% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of wool to Peru, accounting for a 91% share of total imports. Moreover, wool imports from the United States exceeded the figures recorded by the second-largest supplier, Uruguay (X kg), tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (-13.7% per year) and Argentina (-56.2% per year).

In value terms, the United States ($X) constituted the largest supplier of wool to Peru, comprising 79% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (-14.0% per year) and Argentina (-53.6% per year).

Import Prices by Country

In 2022, the average wool import price amounted to $X per ton, picking up by 2.8% against the previous year. In general, the import price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 21%. The import price peaked 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 Argentina ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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