Peru: Woolen Yarn Market 2024

Woolen Yarn Market Size in Peru

The Peruvian woolen yarn market fell dramatically to $X in 2021, declining by -49.1% against the previous year. Overall, consumption showed a deep slump. The most prominent rate of growth was recorded in 2018 when the market value increased by 5.2%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Woolen Yarn Production in Peru

In value terms, woolen yarn production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Woolen Yarn Exports

Exports from Peru

In 2021, shipments abroad of yarn of wool increased by 54% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, woolen yarn exports skyrocketed to $X in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Norway (X tons) and Sweden (X tons) were the main destinations of woolen yarn exports from Peru, with a combined 40% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +69.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for yarn of wool exports from Peru, comprising 23% of total exports. The second position in the ranking was held by Norway ($X), with an 11% share of total exports. It was followed by the UK, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+1.6% per year) and the UK (+10.5% per year).

Export Prices by Country

In 2021, the average woolen yarn export price amounted to $X per ton, shrinking by -1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 14%. The export price peaked at $X per ton in 2019; however, from 2020 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 Thailand ($X per ton), while the average price for exports to Ireland ($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 Thailand (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Peru

In 2021, the amount of yarn of wool imported into Peru declined significantly to X tons, waning by -17.5% against 2020 figures. In general, imports recorded a pronounced slump. The pace of growth appeared the most rapid in 2020 when imports increased by 202%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen yarn imports contracted to $X in 2021. Over the period under review, imports showed a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 177% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Bolivia (X kg) and Norway (X kg) were the main suppliers of woolen yarn imports to Peru, with a combined 61% share of total imports. These countries were followed by Bulgaria, Belgium, Italy, China, Spain, Uruguay, South Africa, Germany and Canada, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +110.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X) constituted the largest supplier of yarn of wool to Peru, comprising 31% of total imports. The second position in the ranking was held by South Africa ($X), with a 13% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Bolivia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+31.7% per year) and the United States (+8.4% per year).

Import Prices by Country

The average woolen yarn import price stood at $X per ton in 2021, surging by 3.8% against the previous year. In general, the import price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 34%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :