A Brief of China’s Silk Products Import and Export Statistics January-September 2024

In our previous blog, we discussed the trade data on silk products in the United States from January to August 2024. In this blog, we will focus on China’s import and export statistics for silk products from January to September 2024. The main points include:

• Overall Trade Situation: The total import and export value of silk products was USD 1.297 billion, a year-on-year decrease of 4.93%, accounting for 0.52% of China’s total import and export value of textiles and garments.
• Export Data:
  • The total export value of silk products was USD 1.054 billion, down by 6.22% year-on-year.
  • Among the three main categories (raw silk, silk fabrics, and finished products), the first two continued to decline, while exports of finished products maintained growth.
  • Major export markets include the EU, the United States, India, Japan, and Hong Kong. Exports to the EU and the United States increased, while exports to India declined significantly.
• Import Data:
• The total import value of silk products was USD 243 million, an increase of 1.08% year-on-year. Imports of raw silk showed significant growth, while imports of finished products declined.
• Major import sources include the EU, India, and China.

For specific data, please refer to the article below.

Source: China Chamber of Commerce for Textile Import and Export

Author: Silk Department
Date: October 28, 2024, 11:19:35

According to customs statistics, the total import and export value of silk products from January to September 2024 was USD 1.297 billion, a year-on-year decrease of 4.93%, accounting for 0.52% of the total import and export value of China’s textiles and garments.

(1) Export

The export value of pure silk products was USD 1.054 billion, down by 6.22% year-on-year, accounting for 0.45% of China’s textile and garment exports. During the same period, textile and garment exports grew by 0.65%.

1. Structure of Exported Silk Products

In the first three quarters of 2024, the export value of China’s pure silk products decreased by 6.22% year-on-year. Among the three main categories, which are raw silk, silk fabrics and finished products, the first two continued to show respective declines while the finished products continued to show an upward trend.

Table 1: Structural Statistics of China’s Pure Silk Product Exports (January-September 2024)
Monetary Unit: USD 10,000; Quantity Units: tons, 10,000 m²

2. Major Export Markets

From January to September, among the top five export markets of silk products, exports to the EU (China’s largest export market) showed a rebound. Exports to the United States maintained steady growth, while exports to India continued to decline significantly, with a decrease of 33.42%.

Table 2: Statistics of Major Export Markets of China’s Silk Products (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

(1) Export of Raw Silk

In the first three quarters, among China’s top five traditional export markets for silk related products, exports to the European and American markets shifted from a decline to a growth. Exports to India and Vietnam continued to show large decreases, with the further expanding declines. Exports to Cambodia maintained rapid growth, although the growth rate continued to fall significantly.

Table 3: Major Export Markets of China’s Raw Silk Products (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

（2）Export of Silk Fabrics

From January to September, among the top ten export markets of China’s pure silk fabrics, only exports to Hong Kong and Vietnam showed year-on-year growths, but the growth rate has significantly slowed. Exports to all other major markets declined year-on-year, with the largest decrease still observed in Pakistan, while the decline in exports to Sri Lanka became the most pronounced. (See Table 4)

Table 4: Major Export Markets for China’s Pure Silk Fabrics (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

(3) Export of Silk Finished Products

Since the beginning of this year, silk finished products have been the only category among the three major silk product categories to show export growth, with a cumulative export increase of 3.37% from January to September. Exports to the main European and American markets continued to grow, with exports to the United States increasing at a higher rate than to the European Union. Among the top ten export markets, exports to Hong Kong declined significantly, causing its ranking to drop to the fourth place, while Australia became the third-largest market for China’s silk finished products. Exports to Singapore and Malaysia maintained rapid growths. (See Table 5)

Table 5: Major Export Markets for China’s Silk Finished Products (January-September 2024)
Monetary Unit: USD 10,000

3. Exports by Provinces and Cities

In the first three quarters of 2024, among the top five provinces and cities of silk products export, only Shandong Province showed a year-on-year increase in export value, while other provinces and cities experienced declines of varying degrees. Shanghai continued to have the highest decline, with the decrease further expanding. Imports in Fujian Province maintained rapid growth. (See Table 6)

Table 6: Export Value of Silk Products by Major Provinces and Cities (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

(Data Source: China Customs)

(2) Import

From January to September, the import value of silk products was USD 243 million, an increase of 1.08% year-on-year, accounting for 1.52% of the total import value of textiles and garments. During the same period, the import value of textiles and garments decreased by 1.08% year-on-year.

1. Structure of Imported Products

In the first three quarters of 2024, the cumulative import growth rate of silk products slowed significantly, with the total import value of the three main categories increasing by 1.08% year-on-year. Silk finished products were the only category with a year-on-year decrease in import value. (See Table 7)

Table 7: Import Structure of China’s Silk Products (January-September 2024)
Monetary Unit: USD 10,000; Quantity Units: Tons, 10,000 m²

(Data Source: China Customs)

2. Import Sources

From January to September, among China’s top ten import sources for silk products, imports from India and Switzerland showed significant growth. The European Union remained China’s largest import source, accounting for over 70% of imports, with a slight increase in its share. Although imports from India continued to grow rapidly, the growth rate has slowed significantly. The surge in imports from Myanmar in the first half of the year has reversed to a decline. (See Table 8)

Table 8: Import Sources of China’s Silk Products (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

3. Imports by Provinces and Cities

From January to September, Shanghai, which has the highest share of China’s silk imports, saw its import value shift from growth to decline year-on-year. Imports in Zhejiang and Guangdong continued to grow, but the growth rate has narrowed significantly. The surge in imports in Yunnan has subsided, while imports in Xinjiang have continued to grow rapidly. (See Table 9)

Table 9: Import Statistics of Silk Products by Provinces and Cities (January-September 2024)
Monetary Unit: USD 10,000

(Data Source: China Customs)

To learn more about the trade situation for silk products in the United States from January to August 2024, please refer to our previous blog. For more insights on silk products, follow the DOCSUN blog. If you’re interested in silk products, visit our website. https://www.docsunhomeandliving.com/