In October 2023, woolen fabric imports into Turkiye skyrocketed to 246K square meters, jumping by 49% compared with the previous month’s figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 with an increase of 99% month-to-month. As a result, imports reached the peak of 479K square meters. From June 2023 to October 2023, the growth of imports remained at a somewhat lower figure.
In value terms, woolen fabric imports skyrocketed to $13 milion in October 2023. Over the period under review, imports posted modest growth. The pace of growth was the most pronounced in March 2023 when imports increased by 62% month-to-month. Imports peaked at 25M square meters in July 2023; however, from August 2023 to October 2023, imports stood at a somewhat lower figure.
Imports by Country
In October 2023, Italy (130K square meters) constituted the largest supplier of woolen fabric to Turkiye, accounting for a 53% share of total imports. Moreover, woolen fabric imports from Italy exceeded the figures recorded by the second-largest supplier, China (43K square meters), threefold. Egypt (39K square meters) ranked third in terms of total imports with a 16% share.
From October 2022 to October 2023, the average monthly growth rate of volume from Italy totaled -2.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (+3.7% per month) and Egypt (+40.4% per month).
In value terms, Italy ($9.8M) constituted the largest supplier of woolen fabric to Turkiye, comprising 78% of total imports. The second position in the ranking was taken by China ($1.1M), with an 8.7% share of total imports. It was followed by Portugal, with a 4.6% share.
From October 2022 to October 2023, the average monthly growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: China (+9.6% per month) and Portugal (+0.1% per month).
Imports by Type
In October 2023, woven fabrics of combed wool or of combed fine animal hair (171K square meters) constituted the largest type of woolen fabric supplied to Turkiye, with a 70% share of total imports. Moreover, woven fabrics of combed wool or of combed fine animal hair exceeded the figures recorded for the second-largest type, woven fabrics of carded wool or of carded fine animal hair (75K square meters), twofold.
From October 2022 to October 2023, the average monthly growth rate of the volume of import of woven fabrics of combed wool or of combed fine animal hair was relatively modest.
In value terms, woven fabrics of combed wool or of combed fine animal hair ($11M) constituted the largest type of woolen fabric supplied to Turkiye, comprising 88% of total imports. The second position in the ranking was taken by woven fabrics of carded wool or of carded fine animal hair ($1.5M), with a 12% share of total imports.
Import Prices by Country
In October 2023, the woolen fabric price stood at $51.1 per square meter (CIF, Turkiye), declining by -13.8% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 38% against the previous month. Over the period under review, average import prices hit record highs at $60.5 per square meter in March 2023; however, from April 2023 to October 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Italy ($75.5 per square meter), while the price for Egypt ($4.8 per square meter) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: indexbox
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