Silk Market - Global Raw Silk Market Steadily Declines

Fibre Crops January 28, 2016
Author: Olga Minchina
Account Manager

silk market

The global raw silk market showed a steady decline, falling from 245 thousand tonnes in 2008 to 168 thousand tonnes in 2014. However, the market value illustrated mixed dynamics over the period under review, due to constant fluctuations in producer prices. A significant drop of the market revenues in 2009 (14% Y-o-Y) was followed by a sharp hike in 2010 (48% Y-o-Y). Over the next three years, the market value gradually increased until it plunged again in 2014 (10% Y-o-Y). From 2007 to 2014, it expanded with a CAGR of +5.5%, reaching 8,833 million USD in 2014.

In 2014, China was the main global supplier of raw silk with an 80% share of global exports. However, the U.S. was the fastest growing supplier from 2007 to 2014 (+31.9% per year). It was followed by Germany (+5.9% per year) and Romania (+1.8% per year). The share exported from the U.S. increased (+8 percentage points), while the share of China illustrated negative dynamics (-7 percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.

China dominates in global raw silk production and trade. In 2014, China exported 5% of its total raw silk output. Of this amount, 48% was supplied to India, where Chinese raw silk held an 11% share of total India's consumption.

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Source: World: Raw Silk - Market Report. Analysis and Forecast to 2020