In the first five months of 2026, China's total trade in wool textile raw materials and products reached $6.06 billion (RMB 42.1 billion), an increase of 8.16% year-on-year. The key contrast lies beneath this figure: exports grew by only 2.29%, while imports surged by 27.35%. This import surge signals a notable recovery in domestic wool processing capacity and demand.
Exports: Emerging Markets Drive Growth, Intermediates Shine
Total exports stood at $4.35 billion, with a modest 2.29% increase, but structural highlights are clear. Orders from emerging economies grew significantly: exports to India reached $76 million, up 40.19%, and to Turkey $41.46 million, up 24.89%. The growth driver for both markets is wool tops—a key wool intermediate.
Wool top exports reached 13,300 tons valued at $178 million, up 21.68% year-on-year, reflecting expanding demand from overseas textile manufacturing countries—especially India and Turkey—for semi-finished products. These countries are absorbing part of the global garment manufacturing shift, increasing their reliance on upstream wool raw materials.
Meanwhile, wool product exports rose 5.11%, cashmere products 6.97%, while yarn and knitted sweaters maintained stable overseas demand. Traditional European and American markets showed divergence: German orders grew, while volumes to Vietnam and Italy fell slightly, though values still increased, indicating stronger pricing power for high-end products.
Imports: Domestic Demand Recovery Spurs Raw Material Purchases
Total imports reached $1.71 billion, up sharply by 27.35%—the core highlight of this trade data. Import growth far outpacing exports suggests domestic wool processing enterprises are accelerating stockpiling, with capacity utilization rising significantly.
Cashmere raw material and product imports hit $127 million, up 44.61%, with high-end cashmere fabrics and garments seeing both volume and price increases. This reflects two logics: domestic consumption upgrading driving high-end wool demand, and rising international wool prices prompting enterprises to lock in costs by purchasing premium Australian and South African wool early.
Stable operation of worsted and cashmere deep-processing capacities supports the full chain from spinning to weaving. This means imported raw materials are not just for inventory replenishment but to match expanding domestic orders.
Industry Operating Logic
This dual growth is no coincidence but the result of three factors. First, overseas autumn-winter garment orders arrived early, expanding demand from emerging textile manufacturing countries (India, Turkey) for intermediates like wool tops. Second, domestic consumption recovery combined with technical upgrades and capacity expansion boosted raw material procurement, enlarging import volumes. Third, China's full wool textile supply chain advantages continue to strengthen, enhancing international competitiveness of wool yarn and knitted garments while maintaining a stable trade surplus.
Looking ahead, international wool raw material prices are unlikely to reverse their upward trend soon, gradually passing cost pressure downstream. For buyers, locking in prices early and diversifying sourcing becomes essential.