Australia’s wool exports are on a cyclical upturn, with the value of the 12 month aggregate of wool exports (i.e. from February 2016 to January 2017) hitting a 14-year peak in January.
There was a sharp lift in Australian wool exports in both volume and value in January. Wool exports from Australia lifted by 25% in volume and 36% in value in January compared with a year earlier. The main driver was a leap in exports to China which more than offset significant declines in exports to the Czech Republic, Italy and India during the month. China accounted for a massive 86% of Australia’s wool exports by volume in January. As a result of the increase in January, Australia’s wool exports were 9% higher for the seven months of the 2016/17 season (July to January) and 14% higher by value.
Full details including a chart showing cyclical trends in Australia’s wool exports in volume and value (both A$ and US$) is included in the NCWSBA Weekly Newsletter for the week ending 10th March 2017. Available to NCWSBA members.