Southern Asia: Silk Fabric Market 2024

Silk Fabric Market Size in Southern Asia

The South Asian silk fabric market stood at $X in 2021, stabilizing at the previous year. Overall, consumption enjoyed a resilient expansion. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Silk Fabric Production in Southern Asia

In value terms, silk fabric production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a strong increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Silk Fabric Exports

Exports in Southern Asia

In 2021, approx. X square meters of woven fabrics of silk or of silk waste were exported in Southern Asia; with an increase of 29% on the previous year. Overall, exports, however, saw a deep setback. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silk fabric exports soared to $X in 2021. In general, exports, however, showed a abrupt decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X square meters), together resulting at 99% of total export.

India was also the fastest-growing in terms of the woven fabrics of silk or of silk waste exports, with a CAGR of -10.6% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest silk fabric supplier in Southern Asia.

In India, silk fabric exports decreased by an average annual rate of -6.7% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per square meter in 2021, surging by 2.5% against the previous year. Export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk fabric export price decreased by -0.8% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 54% against the previous year. Over the period under review, the export prices attained the maximum at $X per square meter in 2019; however, from 2020 to 2021, 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 India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +4.3% per year.

Silk Fabric Imports

Imports in Southern Asia

In 2021, overseas purchases of woven fabrics of silk or of silk waste increased by 29% to X square meters for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 68% against the previous year. As a result, imports attained the peak of X square meters. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silk fabric imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a deep slump. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Sri Lanka (X square meters) and India (X square meters) were the main importers of woven fabrics of silk or of silk waste in 2021, accounting for near 41% and 39% of total imports, respectively. It was distantly followed by Pakistan (X square meters), comprising a 10% share of total imports. Afghanistan (X square meters) and Bangladesh (X square meters) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +11.6%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest silk fabric importing markets in Southern Asia were Sri Lanka ($X), India ($X) and Pakistan ($X), with a combined 93% share of total imports.

In terms of the main importing countries, Sri Lanka, with a CAGR of +15.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per square meter in 2021, increasing by 15% against the previous year. Import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.1% 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 import price increased by +120.3% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by 112% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per square meter), while Afghanistan ($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 Bangladesh (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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