Updated Oct 26, 2022 12:41

Woolen Fabric Market in Mexico

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Mexican woolen fabric market contracted to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a deep contraction. Over the period under review, the market reached the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain momentum.

In value terms, woolen fabric production rose modestly to $ in estimated in export price. In general, production saw a noticeable slump. The pace of growth was the most pronounced in 2010 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2011 to , production growth remained at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of woven woolen fabrics in Mexico fell modestly to square meters, which is down by -% against the previous year's figure. Overall, consumption recorded a abrupt descent. Over the period under review, consumption reached the maximum volume at square meters in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The value of the woolen fabric market in Mexico dropped to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a abrupt decline. Over the period under review, the market reached the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain momentum.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Depressed by shrinking demand for woolen fabric in Mexico, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to square meters by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Mexico remains a net exporter of woolen fabric; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of square meters, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.