What this market covers
Fibre shorn from sheep and processed into yarn and fabric for clothing, carpets and insulation. Buyers are spinners, textile mills and apparel brands.
Typical segments
- Fine merino wool
- Crossbred wool
- Carpet wool
- Wool tops and yarn
Why this market is moving now
- World trade shrank 22% from 2019 to 2024, a direct read on cross-border demand.
- Uruguay is gaining ground: its exports rose 44% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of greasy shorn wool (HS 510111), the trade category that includes wool, were worth $2.28 billion in 2024. | 2.28 USD billion | 2024 | |
| World exports were 22% lower in 2024 than in 2019 ($2.92 billion), calculated from the annual totals. | -22 % since 2019 | 2024 | |
| Australia was the largest exporter in 2024, with 74% of world exports ($1.69 billion). | 74 % of world exports | 2024 | |
| The three largest exporters, Australia, South Africa and New Zealand, shipped 92% of world exports in 2024. | 92 % of world exports | 2024 | |
| China was the largest importer in 2024, buying $1.90 billion, or 83% of world imports. | 83 % of world imports | 2024 | |
| 22 countries exported more than $1 million of this product in 2024. | 22 countries | 2024 | |
| The average world export price was about $5.55 per kilogram in 2024, calculated from value and weight. | 5.55 USD per kg | 2024 | |
| Countries exported 409.9 thousand tonnes of this product in 2024. | 409.9 thousand tonnes | 2024 | |
| Among the ten largest exporters, Uruguay grew fastest, with exports up 44% from 2019 to 2024. | +44 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Spinning mills
- Apparel brands
- Carpet makers
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global wool market?
There is no single official market total. World exports of HS 510111 reached $2.28 billion in 2024, a direct measure of cross-border trade.
Which countries export the most wool?
Australia led world exports in 2024 with 74% of the total, followed by South Africa, New Zealand and Uruguay.
Which countries import the most wool?
China was the largest importer in 2024, followed by India, Italy and the Czech Republic.
Is world trade in wool growing?
World exports were 22% lower in 2024 than in 2019.
What is the average export price of wool?
Dividing world export value by weight gives about $5.55 per kilogram in 2024.
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