Turkey: Woolen Fabric Market 2024

Woolen Fabric Market Size in Turkey

For the third year in a row, the Turkish woolen fabric market recorded decline in sales value, which decreased by -13.3% to $X in 2021. Overall, consumption saw a pronounced descent. Woolen fabric consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Woolen Fabric Production in Turkey

In value terms, woolen fabric production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 63% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Woolen Fabric Exports

Exports from Turkey

In 2021, overseas shipments of woven woolen fabrics increased by 36% to X square meters for the first time since 2012, thus ending a eight-year declining trend. In general, exports, however, recorded a deep reduction. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, woolen fabric exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X square meters), the United States (X square meters) and Russia (X square meters) were the main destinations of woolen fabric exports from Turkey, together accounting for 32% of total exports. These countries were followed by Germany, Iran, Japan, Tunisia, Jordan, Nigeria, France, Uzbekistan, Switzerland and Azerbaijan, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +156.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Germany ($X) and the United States ($X) constituted the largest markets for woolen fabric exported from Turkey worldwide, with a combined 34% share of total exports. These countries were followed by Russia, Japan, Iran, Tunisia, France, Switzerland, Jordan, Azerbaijan, Uzbekistan and Nigeria, which together accounted for a further 38%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +120.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, dropping by -9.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 8.4%. Over the period under review, the average export prices hit record highs at $X per square meter in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per square meter), while the average price for exports to Nigeria ($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 Tunisia (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into Turkey

For the fourth consecutive year, Turkey recorded decline in purchases abroad of woven woolen fabrics, which decreased by -12.6% to X square meters in 2021. In general, imports saw a abrupt downturn. The growth pace was the most rapid in 2017 when imports increased by 21% against the previous year. Imports peaked at X square meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, woolen fabric imports totaled $X in 2021. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 13%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X square meters) constituted the largest supplier of woolen fabric to Turkey, accounting for a 71% share of total imports. Moreover, woolen fabric imports from Italy exceeded the figures recorded by the second-largest supplier, China (X square meters), fivefold. Portugal (X square meters) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.9% per year) and Portugal (+3.7% per year).

In value terms, Italy ($X) constituted the largest supplier of woven woolen fabrics to Turkey, comprising 83% of total imports. The second position in the ranking was held by China ($X), with a 5.7% share of total imports. It was followed by Portugal, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.9% per year) and Portugal (+4.2% per year).

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, picking up by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per square meter), while the price for Greece ($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 Free Zones (+14.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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