Key Market Indicators
South Africa is set to become a major player in wool exports and imports by 2026. Export of wool is expected to reach $595 million, a 2.3% increase from 2021. This follows an upward trend of 7.7% year-on-year since 2005. In 2021, Germany overtook South Africa to become the fourth largest exporter at $519 million. China, Italy and Germany ranked second, third and fourth respectively. Meanwhile, South African wool imports are set to reach $54 million by 2026, a 2.1% average growth rate from 2021. Demand has been decreasing since 2005, at a rate of 2.7% year-on-year. In 2021, Ukraine overtook South Africa to become the 32nd largest importer at $47 million. Italy, Germany and the United Kingdom came in second, third and fourth respectively.
