For the forecast period from 2024 to 2028, the import of greasy shorn wool to China shows a consistent upward trend. The values, expressed in billion US dollars, increase gradually each year from 3.4226 in 2024 to 3.8195 in 2028. The year-on-year growth rates signify a steady demand and rising import levels over this period.
In 2023, the imports stood at a slightly lower value compared to 2024, indicating a positive year-on-year growth as the forecast begins. The compound annual growth rate (CAGR) calculation for these forecasted years further highlights a modest yet positive growth trend, averaging out to a stable increase annually.
Future trends to watch for:
- Impact of global trade policies on wool imports
- Fluctuations in demand driven by domestic textile industry needs
- Potential changes in consumer preferences and sustainable sourcing concerns
- Technological advancements in wool processing and their effects on imports
