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Strong growth expected in global silk yarn trade

03
Nov '19
Pic: Shutterstock
Pic: Shutterstock
The global silk yarn trade has been recovering from 2017 with a high CAGR (compound annual growth rate), after the decline from 2013 to 2017, according to data from TexPro. The total trade gained by 14.10 per cent in 2018 over the previous year. It is anticipated to reach at $3,216.65 million in 2021 with a CAGR of 3.30 per cent from 2018.

The global silk yarn trade was at $2,733.10 million in 2016 and reached $2,916.20 million in 2018 with a growth rate of 6.70 per cent, according to Fibre2Fashion's market analysis tool TexPro.

In terms of volume, the global silk yarn trade was 76.99 thousand tonnes in 2016 which increased to 66.13 thousand tonnes in 2018 with a drop of 14.11 per cent. The total trade gained by 1.60 per cent in 2018 compared to 2017. It is anticipated to drop to 55.29 thousand tonnes in 2021 at negative growth of 7.32 per cent per year from 2018.

In terms of value, the global silk yarn export was $1,625.58 million in 2016 and it rose to $1,763.91 million in 2018 with a growth rate of 8.51 per cent. The overall silk yarn export moved up by 18.42 per cent in 2018 over the previous year. It is anticipated to reach $1,993.77 million in 2021 with a CAGR of 4.17 per cent from 2018.

In terms of volume, the global silk yarn export was 44.75 thousand tonnes in 2016, which dropped by 2.11 per cent to 43.81 thousand tonnes in 2018. The overall silk yarn export rose by 13.48 per cent in 2018 over the silk yarn export in 2017. It is expected to decline to 42.43 thousand tonnes in 2021 with a CAGR of 1.06 per cent from 2018.

In 2018, China (26.05 thousand tonnes), South Korea (5.14 thousand tonnes), Philippines (2.82 thousand tonnes) and Italy (2.21 thousand tonnes) were the key exporters of silk yarn across the globe, together comprising 82.71 per cent of total exports. These were distantly followed by Romania (1.29 thousand tonnes), Japan (1.09 thousand tonnes), India (0.85 thousand tonnes), South Africa (0.63 thousand tonnes) and Brazil (0.45 thousand tonnes).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Philippines and South Korea (239.34 per cent).

In value terms, China ($980.33 million), Italy ($274.77 million), Romania ($95.62 million), France ($67.45 million), India ($63.21 million) and Japan ($48.69 million) were the key exporters of silk yarn across the globe in 2018, together comprising 86.74 per cent of total export. These were followed by South Korea ($44.20 million), Germany ($34.73 million) and Brazil ($32.66 million).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Romania (14.27 per cent).

Fibre2Fashion News Desk (RKS)


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