Australia exported 315.2 mkg greasy of wool in 2015/16 at a value of A$2.74 billion or US$2.02 billion. Compared with 2014/15, Australia’s exports were 11% lower in volume, 1% higher in A$ value and 10% lower in US$ value. The export volume in 2015/16 was the lowest since 1979/80 when the NCWSBA database records begin. It would probably be the lowest volume of exports since the 1920s as Australian wool production in 2015/16 was the lowest since 1925/26.
In spite of this low volume, the A$ value of exports was the highest since the 2003/04 season (the volume of exports in 203/04 was 461 mkg greasy). The volume of exports to a number of the major destinations in 2015/16 was below the level of 2014/15. Most significantly, exports to China fell by 12%, although it only fell back to the levels seen in 2013/14. Even with this decline, China’s share of Australia’s exports was at 74% in 2015/16, down only a little from the 75% share in 2014/15. Exports to India, Egypt and ‘the Rest of Europe’ increased.
The value of exports to China, India, Italy, Egypt, the rest of Europe and ‘other’ destinations all increased in 2015/16. This increase was helped by the higher wool prices seen throughout the 2015/16 season.
Full details including charts showing Australia's wool exports by destination in volume and value terms are contained in the NCWSBA Weekly Newsletter for 5th August 2016. Available to NCWSBA members.