Latin America and the Caribbean: Silk Yarn Market 2023

Silk Yarn Market Size in Latin America and the Caribbean

In 2021, the Latin American silk yarn market increased by 8.5% to $X for the first time since 2012, thus ending a eight-year declining trend. In general, consumption, however, recorded a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silk Yarn Production in Latin America and the Caribbean

In value terms, silk yarn production reached $X in 2021 estimated in export price. In general, production, however, showed a abrupt downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silk Yarn Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of silk yarn and yarn spun from silk waste were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, saw a perceptible decline. The pace of growth was the most pronounced in 2016 when exports increased by 27% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, silk yarn exports skyrocketed to $X in 2021. Overall, exports, however, saw a pronounced downturn. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil prevails in exports structure, accounting for X tons, which was near 94% of total exports in 2021. Peru (X tons) took a minor share of total exports.

Exports from Brazil decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Peru (+50.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +50.1% from 2012-2021. From 2012 to 2021, the share of Brazil and Peru increased by +4.1 and +3.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest silk yarn supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Peru ($X), with a 3.3% share of total exports.

In Brazil, silk yarn exports contracted by an average annual rate of -3.0% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, flattening at the previous year. Overall, the export price, however, recorded a mild descent. The growth pace was the most rapid in 2018 when the export price increased by 20% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.8%).

Silk Yarn Imports

Imports in Latin America and the Caribbean

Silk yarn imports reduced to X tons in 2021, flattening at the year before. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 8.9%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silk yarn imports shrank to $X in 2021. Over the period under review, imports continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2018 with an increase of 15%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Guyana (X tons) was the key importer of silk yarn and yarn spun from silk waste, mixing up 51% of total imports. Peru (X tons) held the second position in the ranking, distantly followed by Mexico (X tons), the Dominican Republic (X tons) and Bolivia (X tons). All these countries together held approx. 33% share of total imports. Brazil (X tons) and Guatemala (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to silk yarn imports into Guyana stood at -11.4%. At the same time, Bolivia (+27.9%), Peru (+22.7%) and the Dominican Republic (+10.5%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.9% from 2012-2021. Guatemala experienced a relatively flat trend pattern. By contrast, Mexico (-10.5%) and Brazil (-16.8%) illustrated a downward trend over the same period. Peru (+14 p.p.), Bolivia (+5.2 p.p.), the Dominican Republic (+4.8 p.p.) and Guatemala (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Guyana saw its share reduced by -4.4% and -8.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Guyana ($X) and Peru ($X) were the countries with the highest levels of imports in 2021, together accounting for 82% of total imports.

Among the main importing countries, Peru, with a CAGR of +25.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, therefore, remained relatively stable against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 an increase of 28% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+21.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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