Uruguay: Silk Fabric Market 2024

Silk Fabric Market Size in Uruguay

The Uruguayan silk fabric market totaled $X in 2021, increasing by 14% against the previous year. Overall, consumption showed prominent growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Silk Fabric Production in Uruguay

In value terms, silk fabric production rose notably to $X in 2021 estimated in export price. Overall, production enjoyed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 52%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Silk Fabric Exports

Exports from Uruguay

For the ninth year in a row, Uruguay recorded decline in shipments abroad of woven fabrics of silk or of silk waste, which decreased by -19.6% to X square meters in 2021. Over the period under review, exports saw a dramatic slump. The smallest decline of -19.5% was in 2020. Over the period under review, the exports reached the peak figure at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silk fabric exports reduced to $X in 2021. In general, exports faced a abrupt curtailment. The smallest decline of -9.7% was in 2014. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X square meters) was the main destination for silk fabric exports from Uruguay, accounting for a 97% share of total exports. It was followed by Paraguay (X square meters), with a 1.5% share of total exports. The third position in this ranking was held by China (X square meters), with a 0.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-28.5% per year) and China (-43.5% per year).

In value terms, the United States ($X) remains the key foreign market for woven fabrics of silk or of silk waste exports from Uruguay, comprising 95% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 2.2% share of total exports. It was followed by China, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-15.2% per year) and China (-33.7% per year).

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, rising by 10% against the previous year. Over the period under review, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per square meter) and Canada ($X per square meter), while the average price for exports to the United States ($X per square meter) and China ($X per square meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into Uruguay

After four years of decline, supplies from abroad of woven fabrics of silk or of silk waste increased by 115% to X square meters in 2021. In general, imports, however, saw a significant curtailment. Imports peaked at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk fabric imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a sharp decrease. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X square meters), India (X square meters) and Argentina (X square meters) were the main suppliers of silk fabric imports to Uruguay, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +11.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to Uruguay, comprising 45% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports. It was followed by Brazil, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from South Korea stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-18.5% per year) and Brazil (-23.8% per year).

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, with an increase of 1.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2016 when the average import price increased by 22%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Argentina ($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 Brazil (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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