Russian Federation: Silk Yarn Market 2023

Silk Yarn Market Size in the Russian Federation

In 2021, the Russian silk yarn market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded strong growth. Silk yarn consumption peaked in 2021 and is likely to continue growth in the near future.

Silk Yarn Exports

Exports from the Russian Federation

In 2021, overseas shipments of silk yarn and yarn spun from silk waste were finally on the rise to reach X kg after two years of decline. In general, exports, however, recorded a mild reduction. Over the period under review, the exports attained the peak figure at X kg in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, silk yarn exports surged to $X in 2021. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 137% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X kg) was the main destination for silk yarn exports from Russia, accounting for a 56% share of total exports. Moreover, silk yarn exports to Belarus exceeded the volume sent to the second major destination, Ukraine (X kg), twofold. Egypt (X kg) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus amounted to +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-3.8% per year) and Egypt (+1,500.0% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for silk yarn and yarn spun from silk waste exports from Russia, comprising 53% of total exports. The second position in the ranking was held by Egypt ($X), with a 20% share of total exports. It was followed by Belarus, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-24.7% per year) and Belarus (+5.4% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, which is down by -68.3% against the previous year. In general, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 179% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Belarus ($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 Kazakhstan (+5.9%), while the prices for the other major destinations experienced mixed trend patterns.

Silk Yarn Imports

Imports into the Russian Federation

After two years of decline, overseas purchases of silk yarn and yarn spun from silk waste increased by 54% to X tons in 2021. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 319%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, silk yarn imports soared to $X in 2021. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 158%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Belarus (X tons) and Italy (X tons) were the main suppliers of silk yarn imports to Russia, with a combined 96% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belarus (with a CAGR of +102.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Russia, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 21% share of total imports. It was followed by Belarus, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.3% per year) and Belarus (+44.0% per year).

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, rising by 25% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 32%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+170.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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