Singapore: Raw Silk Market 2025

Raw Silk Market Size in Singapore

After three years of decline, the Singaporean raw silk market increased by 764% to $X in 2022. In general, consumption posted a strong increase. Raw silk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Raw Silk Production in Singapore

In value terms, raw silk production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. Raw silk production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The average yield of raw silk in Singapore stood at less than X kg per ha in 2022, remaining relatively unchanged against 2021. Overall, 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, approx. less than X ha of raw silk were harvested in Singapore; almost unchanged from the previous year's figure. In general, the harvested area showed a relatively flat trend pattern.

Raw Silk Exports

Exports from Singapore

Raw silk exports from Singapore declined dramatically to X kg in 2022, with a decrease of -99.6% compared with 2021 figures. Over the period under review, exports faced a dramatic setback. The most prominent rate of growth was recorded in 2014 when exports increased by 2,192%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, raw silk exports reduced dramatically to $X in 2022. In general, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 1,652%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X kg) was the main destination for raw silk exports from Singapore, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to -3.6%.

In value terms, Malaysia ($X) emerged as the key foreign market for raw silk exports from Singapore.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled +1.7%.

Export Prices by Country

The average raw silk export price stood at $X per ton in 2022, rising by 32% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +39.1% per year.

Raw Silk Imports

Imports into Singapore

In 2022, the amount of raw silk imported into Singapore shrank significantly to X kg, dropping by -95.9% compared with the previous year. Over the period under review, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 3,807% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, raw silk imports fell dramatically to $X in 2022. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 4,425%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X kg) constituted the largest raw silk supplier to Singapore, with a 77% share of total imports. Moreover, raw silk imports from China exceeded the figures recorded by the second-largest supplier, the United States (X kg), fivefold. The third position in this ranking was held by Germany (X kg), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+18.6% per year) and Germany (-1.7% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest raw silk suppliers to Singapore, with a combined 99% share of total imports.

The United States, with a CAGR of +27.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average raw silk import price amounted to $X per ton, picking up by 2.3% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 an increase of 41%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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