Middle East: Silk Fabric Market 2024

Silk Fabric Market Size in the Middle East

The Middle Eastern silk fabric market soared to $X in 2021, jumping by 23% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Silk Fabric Production in the Middle East

In value terms, silk fabric production fell to $X in 2021 estimated in export price. In general, production showed a significant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 71% against the previous year. The level of production peaked at $X in 2020, and then fell modestly in the following year.

Silk Fabric Exports

Exports in the Middle East

In 2021, overseas shipments of woven fabrics of silk or of silk waste decreased by -9.9% to X square meters for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 428%. As a result, the exports attained the peak of X square meters, and then contracted in the following year.

In value terms, silk fabric exports stood at $X in 2021. In general, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 90%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Turkey prevails in exports structure, recording X square meters, which was approx. 96% of total exports in 2021. The United Arab Emirates (X square meters) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the woven fabrics of silk or of silk waste exports, with a CAGR of +25.5% from 2012 to 2021. The United Arab Emirates (-5.1%) illustrated a downward trend over the same period. While the share of Turkey (+29 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-25.8 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest silk fabric supplier in the Middle East, comprising 80% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total exports.

In Turkey, silk fabric exports increased at an average annual rate of +17.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per square meter, surging by 12% against the previous year. Over the period under review, the export price, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2015 when the export price increased by 54% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while Turkey stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.6%).

Silk Fabric Imports

Imports in the Middle East

After eight years of decline, supplies from abroad of woven fabrics of silk or of silk waste increased by 93% to X square meters in 2021. In general, imports, however, saw a abrupt setback. The volume of import peaked at X square meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silk fabric imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a noticeable contraction. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the main importer of woven fabrics of silk or of silk waste in the Middle East, with the volume of imports recording X square meters, which was approx. 52% of total imports in 2021. Turkey (X square meters) took a 27% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (9.4%). Qatar (X square meters) and Oman (X square meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of +10.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported woven fabrics of silk or of silk waste in the Middle East, comprising 60% of total imports. The second position in the ranking was taken by Turkey ($X), with a 27% share of total imports. It was followed by Iraq, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -4.5%. In the other countries, the average annual rates were as follows: Turkey (-1.1% per year) and Iraq (+8.9% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per square meter, jumping by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The level of import peaked at $X per square meter in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Iraq ($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 Qatar (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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