South-Eastern Asia: Silk Fabric Market 2024

Silk Fabric Market Size in South-Eastern Asia

The Southeast Asian silk fabric market rose remarkably to $X in 2021, with an increase of 9% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Silk Fabric Production in South-Eastern Asia

In value terms, silk fabric production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by 40% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Silk Fabric Exports

Exports in South-Eastern Asia

After two years of decline, overseas shipments of woven fabrics of silk or of silk waste increased by 11% to X square meters in 2021. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 33% against the previous year. Over the period under review, the exports attained the maximum 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 shrank modestly to $X in 2021. In general, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2018 when exports increased by 35%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Vietnam (X square meters) was the key exporter of woven fabrics of silk or of silk waste, creating 69% of total exports. Thailand (X square meters) held the second position in the ranking, distantly followed by Singapore (X square meters). All these countries together took near 27% share of total exports. Malaysia (X square meters) followed a long way behind the leaders.

Vietnam experienced a relatively flat trend pattern with regard to volume of exports of woven fabrics of silk or of silk waste. Singapore (-12.9%), Thailand (-17.1%) and Malaysia (-22.4%) illustrated a downward trend over the same period. While the share of Vietnam (+42 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-2.7 p.p.), Malaysia (-8.1 p.p.) and Thailand (-27.3 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest silk fabric supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with a 15% share of total exports. It was followed by Singapore, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-13.9% per year) and Singapore (-12.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per square meter in 2021, dropping by -11.2% against the previous year. Over the last nine years, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2013 an increase of 19%. Over the period under review, the export prices reached the maximum at $X per square meter in 2020, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per square meter), while Thailand ($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 Malaysia (+6.9%), while the other leaders experienced more modest paces of growth.

Silk Fabric Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in purchases abroad of woven fabrics of silk or of silk waste, which decreased by -2.8% to X square meters in 2021. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 69%. The volume of import peaked at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk fabric imports rose markedly to $X in 2021. Over the period under review, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when imports increased by 75% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam was the key importer of woven fabrics of silk or of silk waste in South-Eastern Asia, with the volume of imports amounting to X square meters, which was near 50% of total imports in 2021. Malaysia (X square meters) ranks second in terms of the total imports with a 20% share, followed by Myanmar (11%) and Indonesia (7.3%). The following importers - Thailand (X square meters), Singapore (X square meters) and Brunei Darussalam (X square meters) - each finished at a 9.4% share of total imports.

Imports into Vietnam decreased at an average annual rate of -3.9% from 2012 to 2021. At the same time, Myanmar (+50.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +50.1% from 2012-2021. By contrast, Brunei Darussalam (-6.9%), Thailand (-7.6%), Malaysia (-10.6%), Indonesia (-12.0%) and Singapore (-16.5%) illustrated a downward trend over the same period. While the share of Vietnam (+12 p.p.) and Myanmar (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-5.1 p.p.), Singapore (-5.4 p.p.) and Malaysia (-9.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported woven fabrics of silk or of silk waste in South-Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total imports. It was followed by Singapore, with a 5.5% share.

In Vietnam, silk fabric imports declined by an average annual rate of -7.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-8.8% per year) and Singapore (-14.8% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per square meter, surging by 15% against the previous year. Overall, the import price, however, showed a slight downturn. The pace of growth appeared the most rapid in 2018 an increase of 55%. Over the period under review, import prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Singapore ($X per square meter), while Indonesia ($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 Thailand (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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