Portugal: Raw Silk Market 2024

Raw Silk Market Size in Portugal

After three years of decline, the Portuguese raw silk market decreased by 0% to less than $X in 2022. Overall, consumption continues to indicate a dramatic decrease. The pace of growth appeared the most rapid in 2019 with a decrease of -77.4% against the previous year. Raw silk consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Raw Silk Production in Portugal

In value terms, raw silk production contracted rapidly to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. The growth pace was the most rapid in 2019 when the production volume increased by 95,001,800% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average raw silk yield in Portugal stood at less than X kg per ha, standing approx. at the previous year. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the raw silk harvested area in Portugal amounted to less than X ha, approximately mirroring the previous year's figure. Over the period under review, the harvested area saw a relatively flat trend pattern.

Raw Silk Exports

Exports from Portugal

In 2019, raw silk exports from Portugal skyrocketed to X tons, rising by 8,485% on the previous year's figure. Over the period under review, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, raw silk exports soared to $X in 2019. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for raw silk exports from Portugal, with a 89% share of total exports. Moreover, raw silk exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), eightfold.

From 2016 to 2019, the average annual growth rate of volume to Italy was relatively modest.

In value terms, Italy ($X) emerged as the key foreign market for raw silk exports from Portugal, comprising 96% of total exports. The second position in the ranking was held by Romania ($X), with a 4.1% share of total exports.

From 2016 to 2019, the average annual growth rate of value to Italy was relatively modest.

Export Prices by Country

In 2019, the average raw silk export price amounted to $X per ton, shrinking by -61.8% against the previous year. Over the period under review, the export price continues to indicate a sharp decline. The export price peaked at $X per ton in 2016; however, from 2017 to 2019, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2019, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Romania amounted to $X per ton.

From 2016 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to France (-25.1%).

Raw Silk Imports

Imports into Portugal

In 2022, overseas purchases of raw silk were finally on the rise to reach X kg for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, faced a significant decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 39% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, raw silk imports skyrocketed to $X in 2022. In general, imports, however, showed a abrupt decrease. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X kg) constituted the largest supplier of raw silk to Portugal, with a 60% share of total imports. Moreover, raw silk imports from Italy exceeded the figures recorded by the second-largest supplier, China (X kg), twofold. The third position in this ranking was taken by Austria (X kg), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled -14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.7% per year) and Austria (-40.9% per year).

In value terms, Italy ($X) constituted the largest supplier of raw silk to Portugal, comprising 65% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by Austria, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at -9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.8% per year) and Austria (-39.9% per year).

Import Prices by Country

The average raw silk import price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2013 an increase of 31% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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