Philippines: Silk Fabric Market 2025

Silk Fabric Market Size in the Philippines

In 2021, the Philippine silk fabric market decreased by -71.8% to $X, falling for the fifth consecutive year after three years of growth. Over the period under review, consumption saw a dramatic descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Silk Fabric Exports

Exports from the Philippines

Silk fabric exports from the Philippines declined rapidly to X square meters in 2021, with a decrease of -70.4% against the previous year's figure. In general, exports faced a significant contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 949% against the previous year. The exports peaked at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk fabric exports dropped dramatically to $X in 2021. Over the period under review, exports showed a precipitous setback. The pace of growth was the most pronounced in 2015 with an increase of 953%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Papua New Guinea (X square meters), Hong Kong SAR (X square meters) and the United States (X square meters) were the main destinations of silk fabric exports from the Philippines, with a combined 68% share of total exports. These countries were followed by India, Thailand, Morocco, South Korea, Indonesia, Taiwan (Chinese), Germany, France and Singapore, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +1.4%), while the other leaders experienced a decline.

In value terms, the largest markets for silk fabric exported from the Philippines were the United States ($X), Hong Kong SAR ($X) and India ($X), with a combined 62% share of total exports. These countries were followed by Thailand, Papua New Guinea, South Korea, Indonesia, Germany, Morocco, France, Singapore and Taiwan (Chinese), which together accounted for a further 29%.

Thailand, with a CAGR of +12.4%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average silk fabric export price stood at $X per square meter in 2021, increasing by 38% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while the average price for exports to Taiwan (Chinese) ($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 India (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into the Philippines

In 2021, supplies from abroad of woven fabrics of silk or of silk waste decreased by -76.4% to X square meters, falling for the fifth year in a row after three years of growth. Over the period under review, imports recorded a significant curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 681%. Imports peaked at X square meters in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, silk fabric imports dropped sharply to $X in 2021. In general, imports recorded a deep reduction. The pace of growth was the most pronounced in 2015 when imports increased by 310%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X square meters), China (X square meters) and Hong Kong SAR (X square meters) were the main suppliers of silk fabric imports to the Philippines, with a combined 66% share of total imports. These countries were followed by Italy, South Korea, Australia, Germany and Taiwan (Chinese), which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +6.4%), while imports for the other leaders experienced a decline.

In value terms, the largest silk fabric suppliers to the Philippines were Japan ($X), China ($X) and Hong Kong SAR ($X), together accounting for 69% of total imports.

Among the main suppliers, Japan, with a CAGR of +8.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average silk fabric import price amounted to $X per square meter, picking up by 66% against the previous year. Over the period under review, the import price showed significant growth. The growth pace was the most rapid in 2018 an increase of 542%. The import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per square meter), while the price for Italy ($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 Australia (+53.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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