The forecast for the import of yarn of carded wool to Canada from 2024 to 2028 shows a modest but consistent decline in value, with figures dropping from approximately 1.63 million USD in 2024 to about 1.60 million USD in 2028. This suggests a year-on-year decrease, reflecting a gradual trend downward. In 2023, the value stood slightly higher than in 2024, indicating that the reduction in imports had already begun.
Key points:
- The reduction from 2024 to 2025 is minor, followed by continued slight declines each subsequent year until 2028.
- The compound annual growth rate (CAGR) shows a consistent slight decrease over this five-year period.
Future trends to watch for include potential impacts from changes in Canadian consumer demand, fluctuations in wool prices globally, and any shifts in trade policies or agreements affecting wool imports. Adapting to these variables will be crucial for stakeholders in the wool import market.
