Saudi Arabia: Silk Yarn Market 2023

Silk Yarn Market Size in Saudi Arabia

The Saudi silk yarn market dropped to $X in 2021, shrinking by -5.6% against the previous year. Overall, consumption, however, saw a perceptible downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Silk Yarn Production in Saudi Arabia

In value terms, silk yarn production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2014 with an increase of 62%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Silk Yarn Exports

Exports from Saudi Arabia

Silk yarn exports from Saudi Arabia dropped sharply to X kg in 2021, waning by -85.2% compared with 2020 figures. In general, exports saw a sharp decline. The exports peaked at X kg in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, silk yarn exports reduced dramatically to $X in 2021. Over the period under review, exports saw a sharp setback. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X kg) was the main destination for silk yarn exports from Saudi Arabia, with a approx. 50% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Denmark was relatively modest.

From 2013 to 2021, the average annual growth rate of value to No country was relatively modest.

Silk Yarn Imports

Imports into Saudi Arabia

For the third year in a row, Saudi Arabia recorded growth in overseas purchases of silk yarn and yarn spun from silk waste, which increased by 1,474% to X tons in 2021. In general, imports, however, faced a dramatic shrinkage. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, silk yarn imports soared to $X in 2021. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of silk yarn to Saudi Arabia, accounting for a 59% share of total imports. Moreover, silk yarn imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X kg), sevenfold. France (X kg) ranked third in terms of total imports with a 7.9% share.

From 2013 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+38.6% per year) and France (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was taken by Spain ($X), with a 3% share of total imports. It was followed by China, with a 2.9% share.

From 2013 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+59.2% per year) and China (-20.7% per year).

Import Prices by Country

The average silk yarn import price stood at $X per ton in 2021, jumping by 237% against the previous year. Overall, the import price showed a significant expansion. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by China (+53.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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