The import of yarn of combed wool to Canada is projected to decline sharply from 2024 to 2028, decreasing from $2.0132 million in 2024 to $0.6184 million in 2028. This trend indicates a consistent reduction in import value year-on-year, implying decreased demand or increased domestic production. In 2023, the import value stood higher as we are seeing a drop by 2024. The average year-over-year decline over these years reflects a substantial downward trend as imports decrease by 26.2% on average annually.
Future trends to watch for include shifts in domestic wool production capacity, potential changes in textile industry demand, trade policies impacting wool imports, and exchange rate fluctuations which could influence import costs and competitive pricing dynamics.
