Imports of wool and wool tops in China stood at $2.85 billion in 2023, exhibiting a year-on-year growth rate of 9.53%. Over the last two years, imports have shown significant recovery with an average yearly increase of approximately 8.6%. When analyzing the last five-year period, the compound annual growth rate (CAGR) stands at -2.78% due to notable declines between 2019 and 2020. The forecast from 2024 onwards indicates a moderate growth path, with a projected annual increase of 1.53% over the next five years, translating to a total forecasted growth rate of 7.89% by 2028.

Future trends to watch:

Potential fluctuations in global wool prices impacting import volumes.
Changes in Chinese domestic textile production and demand for wool-based products.
Environmental and sustainability trends influencing wool import policies.
Technological advancements in wool processing potentially altering import needs.