China: Silk Fabric Market 2023

Silk Fabric Market Size in China

The Chinese silk fabric market amounted to $X in 2021, picking up by 4.6% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.8% against 2019 indices. Silk fabric consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Silk Fabric Production in China

In value terms, silk fabric production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Silk Fabric Exports

Exports from China

In 2021, approx. X square meters of woven fabrics of silk or of silk waste were exported from China; with an increase of 39% against the previous year's figure. Over the period under review, exports, however, saw a abrupt decline. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk fabric exports surged to $X in 2021. In general, exports, however, continue to indicate a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Pakistan (X square meters), Italy (X square meters) and the United Arab Emirates (X square meters) were the main destinations of silk fabric exports from China, together accounting for 46% of total exports. These countries were followed by Afghanistan, India, Hong Kong SAR, South Korea, Sri Lanka, Malaysia, Vietnam, Japan, Turkey and the UK, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Afghanistan (with a CAGR of +85.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silk fabric exported from China were Italy ($X), Hong Kong SAR ($X) and Pakistan ($X), together accounting for 50% of total exports. India, Sri Lanka, South Korea, Turkey, Japan, Vietnam, Afghanistan, the UK, Malaysia and the United Arab Emirates lagged somewhat behind, together accounting for a further 37%.

Afghanistan, with a CAGR of +76.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, with an increase of 4.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 71% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into China

In 2021, approx. X square meters of woven fabrics of silk or of silk waste were imported into China; picking up by 109% compared with the previous year's figure. Over the period under review, imports, however, recorded a abrupt setback. Imports peaked at X square meters in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silk fabric imports skyrocketed to $X in 2021. In general, imports, however, faced a deep contraction. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X square meters) constituted the largest supplier of silk fabric to China, with a 47% share of total imports. Moreover, silk fabric imports from India exceeded the figures recorded by the second-largest supplier, Italy (X square meters), threefold. Japan (X square meters) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-8.6% per year) and Japan (-17.0% per year).

In value terms, Italy ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to China, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with a 22% share of total imports. It was followed by South Korea, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-14.6% per year) and South Korea (-19.7% per year).

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, reducing by -38.1% against the previous year. Overall, the import price showed a noticeable setback. The most prominent rate of growth was recorded in 2018 an increase of 19%. As a result, import price attained the peak level of $X per square meter. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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