Wool in China | The Observatory of Economic Complexity

About

Exports In 2023, China exported $40.9M in Wool, making it the 7th largest exporter of Wool in the world. At the same year, Wool was the 960th most exported product in China. The main destination of Wool exports from China are: India ($12M), Chinese Taipei ($6.85M), South Korea ($4.41M), United Kingdom ($3.28M), and Italy ($2.71M).

The fastest growing export markets for Wool of China between 2022 and 2023 were India ($5.14M), South Korea ($912k), and Germany ($817k).

Imports In 2023, China imported $2.02B in Wool, becoming the 1st largest importer of Wool in the world. At the same year, Wool was the 143rd most imported product in China. China imports Wool primarily from: Australia ($1.58B), South Africa ($197M), New Zealand ($99.1M), Uruguay ($28.9M), and Lesotho ($24.1M).

The fastest growing import markets in Wool for China between 2022 and 2023 were South Africa ($49.2M), Lesotho ($7.41M), and United Kingdom ($6.1M).

COMPANIES In 2024, leading companies such as Mystic Apparel (8), Dollarama (8), and CrimsonLogic (6) were at the forefront of shipping Wool from China to the United States.

Latest Trends

December 2024

About

Overview In December 2024 China's Wool exports accounted up to $2.64M and imports accounted up to $189M, resulting in a negative trade balance of $187M. Between December 2023 and December 2024 the exports of China's Wool have increased by $113k (4.47%) from $2.53M to $2.64M, while imports increased by $33.1M (21.2%) from $156M to $189M.

Destinations In December 2024, Wool were exported mostly to India ($682k), South Korea ($545k), Japan ($539k), Nepal ($430k), and Mexico ($114k), and were imported mostly from Australia ($140M), South Africa ($19M), New Zealand ($15.8M), Uruguay ($5.38M), and Argentina ($1.92M).

Growth In December 2024, the increase in Wool's year-by-year exports was explained primarily by an increase in exports to South Korea ($288k or 173%), Nepal ($121k or 48.8%), and Denmark ($56.2k or 74.2%). In December 2024, the increase in Wool's year-by-year imports was explained primarily by an increase in imports from Australia ($29M or 25%), Uruguay ($1.85M or 130%), and Lesotho ($1.06M or 122%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)$113k(4.47%)

IMPORT GROWTH (December 2023 - December 2024)$33.1M(21.2%)

MAIN EXPORTER (December 2024)Jiangsu Province$2.25M

MAIN DESTINATION (December 2024)India$682k

This section shows Wool's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Wool over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$40.9M

IMPORTS (2023)$2.02B

NET TRADE (2023)-$1.98B

In 2023, China exported $40.9M in Wool. The main destinations of China exports on Wool were India ($12M), Chinese Taipei ($6.85M), South Korea ($4.41M), United Kingdom ($3.28M), and Italy ($2.71M).

In 2023, China imported $2.02B in Wool, mainly from Australia ($1.58B), South Africa ($197M), New Zealand ($99.1M), Uruguay ($28.9M), and Lesotho ($24.1M).

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