China-New Zealand trade to further boost New Zealand's economic recovery

New Zealand’s textile industry,which accounts for about 2 percent of the country’s GDP,has grown at an annual rate of 1.2 percent over the past five years, Neew Zealand leads the world in the production of wool and products made of wool,such as carpets and knitwear New Zealand’s rich variety of wool has driven the production of wool yarn,and consumption upgmding has also contributed to the growth of market share The global wool yarn market is anticipated to reach nearly USD 50,500 mn in terms of value by the end of the forecast period 2029,registering a CAGR of over 4 percent. East Asia will be a prominent region in the wool yarn market by 2029. In addition,