ASEAN: Market for Silk Shawls And Scarves 2024

Market Size for Silk Shawls And Scarves in ASEAN

The ASEAN silk shawl and scarf market shrank modestly to $X in 2022, remaining constant against the previous year. In general, consumption saw a prominent increase. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted modestly in the following year.

Production of Silk Shawls And Scarves in ASEAN

In value terms, silk shawl and scarf production fell to $X in 2022 estimated in export price. Overall, production, however, saw strong growth. The pace of growth was the most pronounced in 2019 with an increase of 37% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then reduced in the following year.

Exports of Silk Shawls And Scarves

Exports in ASEAN

In 2022, shipments abroad of silk shawls and scarves increased by 49% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible downturn. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, silk shawl and scarf exports skyrocketed to $X in 2022. Overall, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X units) and Singapore (X units) represented the largest exporters of silk shawls and scarves in 2022, reaching near 43% and 33% of total exports, respectively. Myanmar (X units) took the next position in the ranking, followed by Vietnam (X units) and Indonesia (X units). All these countries together took near 21% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +85.4%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) remains the largest silk shawl and scarf supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.1% share of total exports. It was followed by Myanmar, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +14.6%. In the other countries, the average annual rates were as follows: Thailand (+5.9% per year) and Myanmar (+115.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, surging by 43% against the previous year. In general, the export price posted strong growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 112%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+18.4%), while the other leaders experienced more modest paces of growth.

Imports of Silk Shawls And Scarves

Imports in ASEAN

In 2022, silk shawl and scarf imports in ASEAN soared to X units, increasing by 29% on 2021 figures. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 42% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, silk shawl and scarf imports skyrocketed to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 56% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore (X units) and Malaysia (X units) represented roughly 66% of total imports in 2022. Brunei Darussalam (X units) ranks next in terms of the total imports with a 13% share, followed by the Philippines (7.1%) and Thailand (7.1%). The following importers - Vietnam (X units) and Indonesia (X units) - together made up 6.7% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported silk shawls and scarves in ASEAN, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total imports. It was followed by Malaysia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +3.2%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+5.0% per year) and Malaysia (+3.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, approximately equating the previous year. In general, the import price, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by 60%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a 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 Thailand ($X per unit), while Brunei Darussalam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform