South Africa: Silk Fabric Market 2024

Silk Fabric Market Size in South Africa

The South African silk fabric market expanded slightly to $X in 2021, with an increase of 3.3% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 -7.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Silk Fabric Production in South Africa

In value terms, silk fabric production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 127%. Silk fabric production peaked at $X in 2020, and then dropped in the following year.

Silk Fabric Exports

Exports from South Africa

Silk fabric exports from South Africa shrank modestly to X square meters in 2021, which is down by -2.4% against 2020. Overall, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 34%. The exports peaked at X square meters in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk fabric exports surged to $X in 2021. Over the period under review, total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Botswana (X square meters), Lesotho (X square meters) and Zambia (X square meters) were the main destinations of silk fabric exports from South Africa, together comprising 87% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Zambia (with a CAGR of +97.0%), while the other leaders experienced more modest paces of growth.

In value terms, Botswana ($X) emerged as the key foreign market for woven fabrics of silk or of silk waste exports from South Africa, comprising 54% of total exports. The second position in the ranking was held by Lesotho ($X), with a 19% share of total exports. It was followed by Zambia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Botswana stood at +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lesotho (-6.0% per year) and Zambia (+94.0% per year).

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, picking up by 34% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk fabric export price decreased by -4.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 41%. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per square meter), while the average price for exports to Swaziland ($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 Swaziland (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into South Africa

After two years of decline, purchases abroad of woven fabrics of silk or of silk waste increased by 32% to X square meters in 2021. Over the period under review, imports, however, showed a deep downturn. The growth pace was the most rapid in 2018 with an increase of 67% against the previous year. Over the period under review, imports reached the peak figure at X square meters in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, silk fabric imports soared to $X in 2021. In general, imports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2018 when imports increased by 102%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of silk fabric to South Africa, with a 77% share of total imports. Moreover, silk fabric imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), fivefold. Thailand (X square meters) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+28.1% per year) and Thailand (+21.5% per year).

In value terms, China ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to South Africa, comprising 65% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by Thailand, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+29.9% per year) and Thailand (+7.6% per year).

Import Prices by Country

In 2021, the average silk fabric import price amounted to $X per square meter, almost unchanged from the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 42%. Over the period under review, average import prices hit record highs at $X per square meter in 2019; however, from 2020 to 2021, 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 South Korea ($X per square meter), while the price for Pakistan ($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 Pakistan (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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