Wool in United Kingdom | The Observatory of Economic Complexity

About

Exports In 2022, United Kingdom exported $53.6M in Wool, making it the 5th largest exporter of Wool in the world. At the same year, Wool was the 525th most exported product in United Kingdom. The main destination of Wool exports from United Kingdom are: China ($10.7M), Lithuania ($8.62M), Czechia ($4.94M), India ($4.91M), and Italy ($3M).

The fastest growing export markets for Wool of United Kingdom between 2021 and 2022 were Czechia ($2.17M), India ($2.13M), and Thailand ($949k).

Imports In 2022, United Kingdom imported $41.3M in Wool, becoming the 9th largest importer of Wool in the world. At the same year, Wool was the 784th most imported product in United Kingdom. United Kingdom imports Wool primarily from: New Zealand ($15.6M), Australia ($8.21M), Ireland ($2.45M), Norway ($2.45M), and Falkland Islands ($2.41M).

The fastest growing import markets in Wool for United Kingdom between 2021 and 2022 were Falkland Islands ($1.42M), Libya ($348k), and Uruguay ($221k).

COMPANIES In 2023, leading companies such as GOLDEN STATE FC LLC (1) were at the forefront of shipping Wool from United Kingdom to the United States.

Latest Trends

February 2024

About

Overview In February 2024 United Kingdom's Wool exports accounted up to £4.62M and imports accounted up to £2.41M, resulting in a positive trade balance of £2.2M. Between February 2023 and February 2024 the exports of United Kingdom's Wool have increased by £48.5k (1.06%) from £4.57M to £4.62M, while imports decreased by £-162k (-6.27%) from £2.57M to £2.41M.

Destinations In February 2024, Wool were exported mostly to China (£1.52M), Lithuania (£658k), India (£631k), Poland (£374k), and Italy (£207k), and were imported mostly from New Zealand (£908k), Ireland (£289k), Turkey (£250k), China (£248k), and Iceland (£135k).

Growth In February 2024, the increase in Wool's year-by-year exports was explained primarily by an increase in exports to China (£645k or 140%), India (£220k or 175%), and Poland (£118k or 569%). In February 2024, the decrease in Wool's year-by-year imports was explained primarily by a decrease in imports from New Zealand (£-367k or -29%), Australia (£-122k or -27.2%), and Norway (£-58.1k or -35.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)£48.5k(1.06%)

IMPORT GROWTH (February 2023 - February 2024)£-162k(-6.27%)

MAIN EXPORTER (February 2024)Felixstowe£1.05M

MAIN DESTINATION (February 2024)China£1.52M

This section shows Wool's exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Wool over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$53.6M

IMPORTS (2022)$41.3M

NET TRADE (2022)$12.3M

In 2022, United Kingdom exported $53.6M in Wool. The main destinations of United Kingdom exports on Wool were China ($10.7M), Lithuania ($8.62M), Czechia ($4.94M), India ($4.91M), and Italy ($3M).

In 2022, United Kingdom imported $41.3M in Wool, mainly from New Zealand ($15.6M), Australia ($8.21M), Ireland ($2.45M), Norway ($2.45M), and Falkland Islands ($2.41M).

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