The export of wool, animal hair, horsehair yarn and fabric thereof from China has exhibited variable trends over the past years. In 2023, the export value stood at $2.4916 billion. From 2013 to 2017, there was a consistent decline, with a notable dip in 2015 at -9.55% year-on-year. However, 2018 marked a significant recovery with a 23.86% increase. Post-2018, the growth stabilized with minor fluctuations, achieving a 2023 year-on-year increase of 1.07%. The Compound Annual Growth Rate (CAGR) for the past five years averaged at 0.13%.
Looking forward, the forecast until 2028 predicts a steady growth, with a 5-year CAGR forecasted at 0.85% and a total growth rate of 4.3%. Important factors to watch for include global market demand, trade policy changes, and innovations in textile manufacturing, which could impact export dynamics significantly.
