Pakistan: Silk Yarn Market 2023

Silk Yarn Market Size in Pakistan

The Pakistani silk yarn market was finally on the rise to reach $X in 2021, after five years of decline. Over the period under review, consumption, however, showed a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silk Yarn Exports

Exports from Pakistan

In 2021, after three years of decline, there was significant growth in overseas shipments of silk yarn and yarn spun from silk waste, when their volume increased by 45% to X kg. Overall, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 70%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk yarn exports soared to $X in 2021. In general, exports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 89% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for silk yarn exports from Pakistan, with a 50% share of total exports. Moreover, silk yarn exports to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X kg), threefold. Romania (X kg) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+8.0% per year) and Romania (+38.2% per year).

In value terms, China ($X) remains the key foreign market for silk yarn and yarn spun from silk waste exports from Pakistan, comprising 48% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total exports. It was followed by Romania, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-15.7% per year) and Romania (+246.4% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, growing by 6.6% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk yarn export price increased by +60.9% against 2016 indices. The growth pace was the most rapid in 2020 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+150.7%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into Pakistan

In 2021, purchases abroad of silk yarn and yarn spun from silk waste increased by 4.9% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a abrupt setback. The growth pace was the most rapid in 2015 when imports increased by 32%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk yarn imports shrank slightly to $X in 2021. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 9.5%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of silk yarn to Pakistan, with a approx. 96% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -17.6%.

In value terms, China ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Pakistan.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -15.7%.

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, waning by -5.3% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 an increase of 35% against the previous year. The import price peaked at $X per ton in 2020, and then contracted in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +2.4% per year.

Source: IndexBox Market Intelligence Platform

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