ASEAN: Woolen Fabric Market 2024

Woolen Fabric Market Size in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN woolen fabric market, when its value decreased by X% to $X. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Woolen Fabric Production in ASEAN

In value terms, woolen fabric production expanded significantly to $X in 2023 estimated in export price. Overall, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Woolen Fabric Exports

Exports in ASEAN

In 2023, shipments abroad of woven woolen fabrics was finally on the rise to reach X square meters after three years of decline. Overall, exports, however, saw a mild reduction. The volume of export peaked at X square meters in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, woolen fabric exports soared to $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Singapore (X square meters) and Thailand (X square meters) were the key exporters of woven woolen fabrics in ASEAN, together creating X% of total exports. Vietnam (X square meters) ranks next in terms of the total exports with a X% share, followed by Indonesia (X%) and Malaysia (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per square meter in 2023, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per square meter in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Woolen Fabric Imports

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in overseas purchases of woven woolen fabrics, when their volume decreased by X% to X square meters. Over the period under review, imports saw a slight descent. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, woolen fabric imports reduced to $X in 2023. Total imports indicated mild growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X square meters) and Indonesia (X square meters) prevails in imports structure, together generating X% of total imports. It was distantly followed by Cambodia (X square meters) and Myanmar (X square meters), together constituting a X% share of total imports. The following importers - Thailand (X square meters), Singapore (X square meters) and the Philippines (X square meters) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woolen fabric importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports. Cambodia, the Philippines, Singapore and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, 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

In 2023, the import price in ASEAN amounted to $X per square meter, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2015 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per square meter), while Myanmar ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform