Global raw silk trade remains unstable

Total raw silk trade is expected to reach $706.58 million in 2021, growing at a CAGR of 1.42 per cent from 2018.

In terms of volume, the global trade of raw silk was 16.34 thousand tonnes in 2016, which plunged to 12.37 thousand tonnes in 2018 at a negative rate of 24.34 per cent, according to Fibre2Fashion's market analysis tool TexPro. The total trade declined by 20.43 per cent in 2018 compared to the total trade in 2017. It is forecast to further drop to 11.62 thousand tonnes in 2021 with 2.04 per cent annual rate of decline from 2018.

In terms of value, the global raw silk export was $358.49 million in 2016, which fell by 4.04 per cent to $344.00 million in 2018. The overall raw silk export moved down by 7.99 per cent in 2018 over the previous year, and is anticipated to reach $323.35 million in 2021 with annual drop of 2.04 per cent from 2018.

In terms of volume, the global raw silk export was 8.11 thousand tonnes in 2016, which decreased by 32.48 per cent to 5.47 thousand tonnes in 2018. The overall raw silk export declined by 30.74 per cent in 2018 over the raw silk export in 2017. It is expected to stand at 5.15 thousand tonnes in 2021.

In 2018, China (4,580.82 tonnes), Italy (479.02 tonnes), Romania (131.65 tonnes), Thailand (75.18 tonnes) and Germany (60.93 tonnes) were the key exporters of raw silk across the globe, together comprising 97.32 per cent of total exports. These were distantly followed by Australia (50.00 tonnes), Turkey (46.21 tonnes) and Bulgaria (11.42 tonnes).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Italy (38.28 per cent), Romania (12.47 per cent) and Australia (892.06 per cent).

In value terms, China ($290.83 million), Italy ($32.37 million) and Romania ($10.11 million) were the key exporters of raw silk across the globe in 2018, together comprising 96.90 per cent of total export. These countries were followed by Thailand ($4.50 million), Germany ($3.43 million) and Bulgaria ($0.53 million).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Italy (57.21 per cent) and Romania (32.97 per cent).

Fibre2Fashion News Desk (RKS)