Vietnam: Wool Market 2025

Wool Market Size in Vietnam

The Vietnamese wool market dropped to $X in 2022, waning by -5.2% against the previous year. Over the period under review, consumption recorded a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wool Production in Vietnam

In value terms, wool production shrank to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Wool production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wool Exports

Exports from Vietnam

In 2022, approx. X tons of wool were exported from Vietnam; almost unchanged from 2021. Over the period under review, exports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 1,290% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, wool exports expanded sharply to $X in 2022. Overall, exports, however, saw a slight increase. The pace of growth appeared the most rapid in 2018 when exports increased by 744% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for wool exports from Vietnam, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India totaled +2.3%.

In value terms, India ($X) also remains the key foreign market for wool exports from Vietnam.

From 2012 to 2022, the average annual growth rate of value to India amounted to +1.8%.

Export Prices by Country

In 2022, the average wool export price amounted to $X per ton, picking up by 7.1% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 111%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.5% per year.

Wool Imports

Imports into Vietnam

Wool imports into Vietnam fell to X tons in 2022, declining by -9.4% compared with the previous year's figure. In general, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2017 when imports increased by 289%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, wool imports dropped to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 365%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Australia (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of wool imports to Vietnam, together comprising 78% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +118.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wool suppliers to Vietnam were Australia ($X), Taiwan (Chinese) ($X) and China ($X), with a combined 88% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +121.8%, saw the highest growth rate of 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 wool import price stood at $X per ton in 2022, shrinking by -2.3% against the previous year. Over the period under review, the import price, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 36%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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