Hong Kong SAR, China: Silk Yarn Market 2021

Silk Yarn Market Size in Hong Kong SAR, China

In 2019, after four years of decline, there was decline in the Hong Kong silk yarn market, when its value decreased by X% to $X. Overall, consumption faced a abrupt decrease. The pace of growth was the most pronounced in 2013 when the market value increased by X% y-o-y. Silk yarn consumption peaked at $X in 2014; however, from 2015 to 2019, consumption remained at a lower figure.

Silk Yarn Exports

Exports from Hong Kong SAR, China

In 2019, after six years of decline, there was growth in overseas shipments of silk yarn, when their volume increased by X% to X tons. Overall, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Exports peaked at X tons in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

In value terms, silk yarn exports skyrocketed to $X in 2019. In general, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2012 when exports increased by X% against the previous year. Exports peaked at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for silk yarn exports from Hong Kong SAR, with a X% share of total exports. Moreover, silk yarn exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was occupied by the U.S. (X kg), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to China totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and the U.S. (+X% per year).

In value terms, China ($X) remains the key foreign market for silk yarn exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of total exports. It was followed by the U.S., with a X% share.

From 2007 to 2019, the average annual growth rate of value to China totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2019, picking up by X% against the previous year. In general, the export price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per ton. From 2014 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Nepal, while the prices for the other major destinations experienced mixed trend patterns.

Silk Yarn Imports

Imports into Hong Kong SAR, China

In 2019, after four years of decline, there was significant growth in purchases abroad of silk yarn, when their volume increased by X% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2014; however, from 2015 to 2019, imports failed to regain the momentum.

In value terms, silk yarn imports soared to $X in 2019. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, China (X tons) constituted the largest supplier of silk yarn to Hong Kong SAR, accounting for a X% share of total imports. Moreover, silk yarn imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Japan (-X% per year).

In value terms, the largest silk yarn suppliers to Hong Kong SAR were China ($X), Italy ($X) and Japan ($X), with a combined X% share of total imports.

Among the main suppliers, Italy saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average silk yarn import price stood at $X per ton in 2019, which is down by -X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018, and then reduced remarkably in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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