Vietnam: Woolen Yarn Market 2025

Woolen Yarn Market Size in Vietnam

In 2021, the Vietnamese woolen yarn market decreased by -15.1% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption, however, recorded a measured increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Woolen Yarn Production in Vietnam

In value terms, woolen yarn production fell modestly to $X in 2021 estimated in export price. In general, production, however, saw a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 7.1%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Woolen Yarn Exports

Exports from Vietnam

In 2021, overseas shipments of yarn of wool increased by 34% to X tons, rising for the third consecutive year after two years of decline. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 294% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, woolen yarn exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 341% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for woolen yarn exports from Vietnam, with a 28% share of total exports. Moreover, woolen yarn exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +90.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+321.2% per year) and Japan (+60.7% per year).

In value terms, Italy ($X) remains the key foreign market for yarn of wool exports from Vietnam, comprising 27% of total exports. The second position in the ranking was taken by Germany ($X), with a 12% share of total exports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +86.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+283.4% per year) and Japan (+54.0% per year).

Export Prices by Country

The average woolen yarn export price stood at $X per ton in 2021, picking up by 5.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. The pace of growth was the most pronounced in 2015 an increase of 18%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to South Korea ($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 Bangladesh (+16.3%), while the prices for the other major destinations experienced a decline.

Woolen Yarn Imports

Imports into Vietnam

After five years of growth, overseas purchases of yarn of wool decreased by -13% to X tons in 2021. Over the period under review, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 90% against the previous year. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, woolen yarn imports declined to $X in 2021. Overall, imports, however, posted buoyant growth. The growth pace was the most rapid in 2014 with an increase of 94%. Imports peaked at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest woolen yarn supplier to Vietnam, with a 77% share of total imports. Moreover, woolen yarn imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+8.2% per year) and Italy (+35.1% per year).

In value terms, China ($X) constituted the largest supplier of yarn of wool to Vietnam, comprising 75% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.2% share of total imports. It was followed by Italy, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+6.7% per year) and Italy (+43.6% per year).

Import Prices by Country

In 2021, the average woolen yarn import price amounted to $X per ton, approximately mirroring the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 22%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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 ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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