Luxembourg: Market for Silk Shawls And Scarves 2024

Market Size for Silk Shawls And Scarves in Luxembourg

In 2022, the Luxembourg silk shawl and scarf market increased by 3.8% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Silk Shawls And Scarves

Exports from Luxembourg

For the third consecutive year, Luxembourg recorded decline in overseas shipments of silk shawls and scarves, which decreased by -4% to X units in 2022. In general, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 44%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, silk shawl and scarf exports rose slightly to $X in 2022. Overall, exports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 91% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units), France (X units) and Italy (X units) were the main destinations of silk shawl and scarf exports from Luxembourg, together comprising 85% of total exports. Hong Kong SAR, Germany and the Netherlands lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +46.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silk shawl and scarf exported from Luxembourg were France ($X), Belgium ($X) and Italy ($X), with a combined 82% share of total exports.

Italy, with a CAGR of +40.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average silk shawl and scarf export price amounted to $X per unit, with an increase of 8.6% against the previous year. Over the period under review, export price indicated a moderate increase 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, silk shawl and scarf export price increased by +53.9% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Silk Shawls And Scarves

Imports into Luxembourg

In 2022, purchases abroad of silk shawls and scarves was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 52%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, silk shawl and scarf imports shrank to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X units) constituted the largest silk shawl and scarf supplier to Luxembourg, with a 53% share of total imports. Moreover, silk shawl and scarf imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X units), threefold. Italy (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.0% per year) and Italy (-5.5% per year).

In value terms, the largest silk shawl and scarf suppliers to Luxembourg were France ($X), Italy ($X) and Belgium ($X), together comprising 89% of total imports. Germany, the Netherlands, China, India and Bangladesh lagged somewhat behind, together accounting for a further 9%.

In terms of the main suppliers, Bangladesh, with a CAGR of +47.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silk shawl and scarf import price stood at $X per unit in 2022, with a decrease of -13.1% against the previous year. Over the period under review, the import price showed a noticeable setback. The growth pace was the most rapid in 2017 an increase of 37%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, 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 France ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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