Eastern Europe: Raw Silk Market 2024

Raw Silk Market Size in Eastern Europe

In 2022, the East European raw silk market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Raw Silk Production in Eastern Europe

In value terms, raw silk production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 19%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Romania (X tons) constituted the country with the largest volume of raw silk production, accounting for 100% of total volume.

In Romania, raw silk production remained relatively stable over the period from 2012-2022.

Raw Silk Exports

Exports in Eastern Europe

In 2022, shipments abroad of raw silk was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, raw silk exports soared to $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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

Romania dominates exports structure, resulting at X tons, which was near 96% of total exports in 2022. Bulgaria (X tons) took a minor share of total exports.

Romania experienced a relatively flat trend pattern with regard to volume of exports of raw silk. At the same time, Bulgaria (+53.6%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +53.6% from 2012-2022. While the share of Bulgaria (+3.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Romania ($X) remains the largest raw silk supplier in Eastern Europe, comprising 98% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Romania stood at +3.6%.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, increasing by 4.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2017 when the export price increased by 47%. Over the period under review, the export prices hit record highs 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 Romania ($X per ton), while Bulgaria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+2.8%).

Raw Silk Imports

Imports in Eastern Europe

After three years of decline, overseas purchases of raw silk increased by 64% to X tons in 2022. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, raw silk imports soared to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Romania dominates imports structure, resulting at X tons, which was approx. 93% of total imports in 2022. It was distantly followed by Bulgaria (X tons), making up a 5% share of total imports.

Imports into Romania increased at an average annual rate of +1.2% from 2012 to 2022. At the same time, Bulgaria (+13.6%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +13.6% from 2012-2022. While the share of Bulgaria (+3.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Romania (-4.7 p.p.) displayed negative dynamics.

In value terms, Romania ($X) constitutes the largest market for imported raw silk in Eastern Europe, comprising 95% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 3.2% share of total imports.

In Romania, raw silk imports increased at an average annual rate of +3.3% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with an increase of 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2018 when the import price increased by 17%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the 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 Romania ($X per ton), while Bulgaria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+2.1%).

Source: IndexBox Platform

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