Singapore: Woolen Yarn Market 2025

Woolen Yarn Market Size in Singapore

The Singaporean woolen yarn market contracted to $X in 2021, falling by -3.7% against the previous year. Over the period under review, consumption, however, recorded a deep slump. Woolen yarn consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Woolen Yarn Production in Singapore

In value terms, woolen yarn production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, faced a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 106% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Woolen Yarn Exports

Exports from Singapore

In 2021, approx. X tons of yarn of wool were exported from Singapore; with a decrease of -36.7% on 2020 figures. Overall, exports saw a noticeable decrease. The pace of growth appeared the most rapid in 2014 with an increase of 521% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, woolen yarn exports shrank markedly to $X in 2021. In general, exports showed a pronounced downturn. The pace of growth appeared the most rapid in 2014 with an increase of 249% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Pakistan (X tons) and Indonesia (X tons) were the main destinations of woolen yarn exports from Singapore, with a combined 60% share of total exports. New Zealand, Thailand, Hong Kong SAR and Malaysia lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +44.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for woolen yarn exported from Singapore were Indonesia ($X), Pakistan ($X) and Thailand ($X), with a combined 48% share of total exports. These countries were followed by India, Hong Kong SAR, New Zealand and Malaysia, which together accounted for a further 36%.

India, with a CAGR of +33.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average woolen yarn export price stood at $X per ton in 2021, which is down by -18% against the previous year. Over the period under review, the export price saw a mild contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by 32%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then contracted rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to India ($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 Malaysia (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Singapore

Woolen yarn imports into Singapore fell significantly to X tons in 2021, declining by -27.3% compared with the year before. Overall, imports, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2014 when imports increased by 1,929%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, woolen yarn imports shrank notably to $X in 2021. Over the period under review, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 406%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of woolen yarn to Singapore, with a 68% share of total imports. Moreover, woolen yarn imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.9% per year) and Malaysia (+23.2% per year).

In value terms, China ($X) constituted the largest supplier of yarn of wool to Singapore, comprising 90% of total imports. The second position in the ranking was held by Malaysia ($X), with a 2.6% share of total imports. It was followed by Hong Kong SAR, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.5% per year) and Hong Kong SAR (-30.4% per year).

Import Prices by Country

The average woolen yarn import price stood at $X per ton in 2021, rising by 9.2% against the previous year. In general, the import price posted modest growth. The most prominent rate of growth was recorded in 2017 an increase of 100% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :