Africa: Raw Silk Market 2024

Raw Silk Market Size in Africa

In 2022, the African raw silk market increased by 2.6% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Raw Silk Production in Africa

In value terms, raw silk production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a slight descent. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Madagascar (X tons), Egypt (X tons) and Nigeria (X tons), with a combined 69% share of total production.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +25.2%), while production for the other leaders experienced more modest paces of growth.

Raw Silk Exports

Exports in Africa

In 2022, the amount of raw silk exported in Africa rose significantly to X tons, increasing by 12% compared with the previous year. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 181% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, raw silk exports skyrocketed to $X in 2022. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 293%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tunisia was the major exporting country with an export of around X tons, which reached 90% of total exports. It was distantly followed by Rwanda (X tons), committing a 10% share of total exports.

Tunisia was also the fastest-growing in terms of the raw silk exports, with a CAGR of +22.0% from 2012 to 2022. Rwanda (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tunisia and Rwanda increased by +56 and +10 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X) remains the largest raw silk supplier in Africa, comprising 89% of total exports. The second position in the ranking was taken by Rwanda ($X), with an 11% share of total exports.

In Tunisia, raw silk exports increased at an average annual rate of +23.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, increasing by 3.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 65%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while Tunisia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Rwanda (+7.3%).

Raw Silk Imports

Imports in Africa

After three years of decline, supplies from abroad of raw silk increased by 6.6% to X tons in 2022. Overall, imports, however, faced a deep setback. The most prominent rate of growth was recorded in 2014 when imports increased by 51%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, raw silk imports expanded to $X in 2022. In general, imports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 46%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Tunisia prevails in imports structure, resulting at X tons, which was near 74% of total imports in 2022. Ethiopia (X tons) held a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (5.6%). The following importers - Morocco (X kg) and Ghana (X kg) - together made up 6.5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to raw silk imports into Tunisia stood at -7.3%. At the same time, Ghana (+34.4%) and Morocco (+1.5%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Africa, with a CAGR of +34.4% from 2012-2022. By contrast, Egypt (-5.9%) and Ethiopia (-7.2%) illustrated a downward trend over the same period. Tunisia (+22 p.p.), Ethiopia (+3 p.p.), Morocco (+2.9 p.p.), Ghana (+2.5 p.p.) and Egypt (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X) constitutes the largest market for imported raw silk in Africa, comprising 85% of total imports. The second position in the ranking was held by Egypt ($X), with a 7.5% share of total imports. It was followed by Morocco, with a 4.4% share.

In Tunisia, raw silk imports shrank by an average annual rate of -7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Egypt (-2.7% per year) and Morocco (+3.3% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, declining by -3.5% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, raw silk import price increased by +6.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 42% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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