Despite a 22 per cent decline in imports from July to December 2023 compared to the same period in 2022, Mexico retains its position as a top buyer of Argentine wool in Latin America. New data from the Wool Federation of Argentina shows, Mexico wool imports declined to 252.4 tons in 2023 from the previous year's 323.6 tons. 

Possible reasons for the decline in imports include fluctuations in the Mexican economy or currency exchange rates that might have impacted purchasing power; changes in consumer preferences or production methods in the Mexican textile industry that could influence wool demand and increased competition from other wool-producing countries.

However, this decrease has not significantly impacted Mexico's ranking. Mexico still holds the seventh spot globally and the third spot in Latin America for Argentine wool imports. Peru and Bolivia now occupy the top two positions in the region, having surpassed Mexico in the latter half of 2022.

While the overall import volume decreased, Mexico's share of the global market for Argentine wool increased slightly from 4 per cent to 4.48 per cent. This suggests that Mexico remains a significant player in the Argentine wool trade, despite the recent dip in imports.