The data on the wool trade for China for the full 2018 year shows that China’s exports of wool top, wool yarn and wool fabric rose by between 3% and 7% in 2018. However, its exports of finished wool products fell away. The largest drop of 36% was for woven wool garments. You may remember that exports of these products saw a massive jump in 2017, driven by exports to Nigeria and some other African countries. The Chinese industry attributed the increase to the Belt and Road Initiative. It seems that the benefits were rather short-lived! Exports of wool knitwear also fell, by 10%. China’s exports wool carpets were down by 7%.
Further details including a chart showing the annual total of China’s exports of wool products for 2018 compared with the previous three years is included in the full edition of this week’s Weekly Newsletter. Available to NCWSBA members.