China is top market for Australian wool

CHINA is now the most important market for Australia's wool industry, with exports to China reportedly accounting for 82 percent of its wool clip exports. This trend is expected to continue amid significant improvement in China-Australia relations as well as rising demand in the Chinese market, observers said.

Chinese purchases accounted for 82 percent of Australia's wool exports from July 1 to December 31 last year, according to data from the Nanjing Wool Market. Indian purchases accounted for only 5 percent, while sales to Italy and the Czech Republic were even smaller, local news outlet The Australian reported. In 2021, the ratio once peaked at 90 percent, compared with 4.2 percent back in 1990.