Industry News

Industry News

Australian wool exports have continued to rise strongly in the first two months of 2017/18, according to data from the Australian Bureau of Statistics which was released yesterday. The volume of wool exported was 11% higher in the July-August period compared with the same period in 2016 and the value of exports jumped by 21% year-on-year. Almost all the major export destinations recorded strong lifts, with the exception of South Korea with exports declining. The largest increases in the volume of exports were seen for the Czech Republic (+20%), Malaysia (+72%), Bulgaria (+463%), Thailand (+19%) and China (+10%). The increase in the first two months has pushed the exports on a 12-month rolling basis higher, continuing the trend seen since August 2016. The trends in the export value are a better guide to the strength of demand. The value of exports in both A$ and US$ has risen strongly over the past year or more, reflecting the strength in the market. Of note is the rise in the export value in A$ terms. In the 12 months to August 2017, the A$ value of wool exports from Australia totalled A$3.24 billion, the highest 12-month total since June 2003.

Further details including a chart showing the long-term trends in the volume and value (in both A$ and US$) of wool exports from Australia, on a 12-month moving aggregate basis are contained in the NCWSBA's Weekly Newsletter for the week ending 6th October 2017, available to NCWSBA Members.

National Council of Wool Selling Brokers of Australia

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