Uruguay: Silk Yarn Market 2024

Silk Yarn Market Size in Uruguay

The Uruguayan silk yarn market was finally on the rise to reach $X in 2021, after eight years of decline. Over the period under review, consumption, however, saw a abrupt setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silk Yarn Production in Uruguay

In value terms, silk yarn production expanded notably to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt contraction. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silk Yarn Exports

Exports from Uruguay

Silk yarn exports from Uruguay contracted sharply to X kg in 2021, which is down by -84.3% against 2020 figures. Overall, exports showed a sharp curtailment. The growth pace was the most rapid in 2017 with an increase of 67%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, silk yarn exports declined rapidly to $X in 2021. In general, exports showed a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 83%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X kg), the United States (X kg) and Canada (X kg) were the main destinations of silk yarn exports from Uruguay, together accounting for 76% of total exports. Japan, Russia and Mongolia lagged somewhat behind, together comprising a further 8.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mongolia (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, the UK ($X), the United States ($X) and Japan ($X) appeared to be the largest markets for silk yarn exported from Uruguay worldwide, with a combined 74% share of total exports. Russia, Canada and Mongolia lagged somewhat behind, together comprising a further 2.7%.

Among the main countries of destination, Russia, with a CAGR of +9.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average silk yarn export price amounted to $X per ton, increasing by 62% against the previous year. In general, the export price enjoyed a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into Uruguay

In 2021, purchases abroad of silk yarn and yarn spun from silk waste increased by 74% to X kg for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2013 with an increase of 107% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, silk yarn imports surged to $X in 2021. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2013 when imports increased by 167% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

China (X kg), Peru (X kg) and Italy (X kg) were the main suppliers of silk yarn imports to Uruguay, with a combined 97% share of total imports. The United States lagged somewhat behind, comprising a further 1.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +14.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Peru ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Uruguay, comprising 72% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Italy, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru stood at +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and Italy (+28.8% per year).

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, with a decrease of -9.1% against the previous year. In general, the import price, however, showed a significant increase. The growth pace was the most rapid in 2020 an increase of 63% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+41.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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