Colombia: Silk Fabric Market 2025

Silk Fabric Market Size in Colombia

In 2021, after three years of growth, there was significant decline in the Colombian silk fabric market, when its value decreased by -8.1% to $X. In general, consumption, however, recorded prominent growth. Silk fabric consumption peaked at $X in 2020, and then shrank in the following year.

Silk Fabric Exports

Exports from Colombia

In 2021, the amount of woven fabrics of silk or of silk waste exported from Colombia contracted remarkably to X square meters, falling by -57.4% on 2020 figures. In general, exports recorded a mild setback. The pace of growth was the most pronounced in 2015 when exports increased by 1,597%. Over the period under review, the exports hit record highs at X square meters in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, silk fabric exports dropped markedly to $X in 2021. Over the period under review, exports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 1,830%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X square meters) was the main destination for silk fabric exports from Colombia, with a 55% share of total exports. Moreover, silk fabric exports to Italy exceeded the volume sent to the second major destination, Free Zones (X square meters), fourfold. Panama (X square meters) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (+28.3% per year) and Panama (-15.1% per year).

In value terms, the largest markets for silk fabric exported from Colombia were Italy ($X), Free Zones ($X) and Israel ($X), together accounting for 74% of total exports. These countries were followed by the United States, Norway, Panama, Guatemala and Canada, which together accounted for a further 17%.

In terms of the main countries of destination, the United States, with a CAGR of +43.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silk fabric export price stood at $X per square meter in 2021, growing by 46% against the previous year. Overall, the export price, however, recorded a slight slump. The growth pace was the most rapid in 2019 an increase of 49% against the previous year. The export price peaked at $X per square meter in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per square meter), while the average price for exports to Canada ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+24.3%), while the prices for the other major destinations experienced mixed trend patterns.

Silk Fabric Imports

Imports into Colombia

After three years of growth, purchases abroad of woven fabrics of silk or of silk waste decreased by -25.2% to X square meters in 2021. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 144% against the previous year. Over the period under review, imports reached the peak figure at X square meters in 2020, and then fell notably in the following year.

In value terms, silk fabric imports surged to $X in 2021. Overall, imports, however, showed temperate growth. The pace of growth appeared the most rapid in 2016 when imports increased by 135% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Panama (X square meters) was the main supplier of silk fabric to Colombia, with a 95% share of total imports. It was followed by Italy (X square meters), with a 1.5% share of total imports. China (X square meters) ranked third in terms of total imports with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Panama stood at +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.5% per year) and China (-37.4% per year).

In value terms, Italy ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to Colombia, comprising 33% of total imports. The second position in the ranking was taken by Panama ($X), with a 14% share of total imports. It was followed by China, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+26.4% per year) and China (-18.7% per year).

Import Prices by Country

In 2021, the average silk fabric import price amounted to $X per square meter, picking up by 129% against the previous year. In general, the import price, however, showed a deep downturn. Over the period under review, average import prices reached the peak figure at $X per square meter in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Panama ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+29.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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