Central Asia: Raw Silk Market 2024

Raw Silk Market Size in Central Asia

After four years of growth, the Central Asian raw silk market decreased by -3% to $X in 2022. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +168.0% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank modestly in the following year.

Raw Silk Production in Central Asia

In value terms, raw silk production shrank to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 69% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The country with the largest volume of raw silk production was Uzbekistan (X tons), comprising approx. 88% of total volume. Moreover, raw silk production in Uzbekistan exceeded the figures recorded by the second-largest producer, Tajikistan (X tons), more than tenfold. The third position in this ranking was held by Turkmenistan (X tons), with a 2.3% share.

In Uzbekistan, raw silk production expanded at an average annual rate of +8.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Tajikistan (-0.7% per year) and Turkmenistan (+1.3% per year).

Raw Silk Exports

Exports in Central Asia

In 2022, shipments abroad of raw silk was finally on the rise to reach X tons after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 1,938% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, raw silk exports skyrocketed to $X in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 2,044% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Uzbekistan dominates exports structure, reaching X tons, which was approx. 97% of total exports in 2022. Tajikistan (X tons) followed a long way behind the leaders.

Exports from Uzbekistan decreased at an average annual rate of -7.9% from 2012 to 2022. At the same time, Tajikistan (+3.2%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +3.2% from 2012-2022. While the share of Uzbekistan (+97 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tajikistan (-91.4 p.p.) displayed negative dynamics.

In value terms, Uzbekistan ($X) remains the largest raw silk supplier in Central Asia, comprising 97% of total exports. The second position in the ranking was held by Tajikistan ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan amounted to -2.1%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, growing by 10% against the previous year. Over the period under review, the export price, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2021 when the export price increased by 20%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Uzbekistan ($X per ton), while Tajikistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.3%).

Raw Silk Imports

Imports in Central Asia

In 2022, raw silk imports in Central Asia dropped notably to X tons, which is down by -33.6% against 2021 figures. In general, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 1,838%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, raw silk imports reduced dramatically to $X in 2022. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 1,036% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kyrgyzstan (X tons) and Turkmenistan (X tons) prevails in imports structure, together mixing up 98% of total imports. Kazakhstan (X kg) followed a long way behind the leaders.

From 2015 to 2022, the biggest increases were recorded for Turkmenistan (with a CAGR of -8.3%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Kyrgyzstan ($X), Turkmenistan ($X) and Kazakhstan ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 99.9% of total imports.

Turkmenistan, with a CAGR of -5.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, falling by -18.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 45% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank dramatically in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkmenistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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