26 million USD in cashmere exported in 2016

Cashmere truck in the Gobi

In the first three quarters of 2016, cashmere valued at 26 million USD was exported, a 10 percent decrease compared to last year’s figures.

The total volume of cashmere exported was 398.4 tons, a 3.2 percent increase compared to last year.

Italy accounted for 74 percent of all exports, the U.K. imported 12 percent, and 8.5 percent was exported to China. Japan only accounted for 1.1 percent of cashmere exports.

Four months ago, Mongolia and Japan signed an economic partnership agreement stating that no tariffs would be imposed on cashmere products. According to Gobi Cashmere, this move will encourage Japanese customers to buy Mongolian cashmere.

The export of cashmere to Japan in 2016 was 3.8 times higher than 2015. Japan primarily imports finished cashmere products. Cashmere exported to Italy, the U.K., and China is mainly processed cashmere and not finished products.