Report of 2024 World’s Silk Finished Product Trade in Major Markets

Source: China National Textile and Apparel Council
Author: Silk Department
Date: April 17, 2025

In the previous article, we learned about China’s silk commodity trade data in January 2025. Interested friends can click on China’s data to learn more. Today we focus on analyzing the silk finished product trade data of major world markets in 2024.

The European Union (27 countries), the United States, India, Turkey, China, Japan, the United Kingdom, and Australia (hereinafter referred to as “the 7 countries and the EU”) are the most important participants in global silk finished product trade. Based on the data provided by “Global Trade Observation” (GTF), this report analyzes the silk finished products trade of the 7 countries and the EU in 2024 for reference.

Overview:

According to GTF data, in 2024, the total silk finished product trade of the 7 countries and the EU was 24.417 billion USD, a year-on-year increase of 1.22%. Among this, exports were 10.396 billion USD, a decrease of 1.16%, and imports were 14.021 billion USD, an increase of 3.06% (see Table 1).

Table 1: Silk Finished Product Trade Statistics of the 7 Countries and the EU in 2024

Source: GTF

1. Export Specifics of Major Suppliers

1.1 EU

In 2024, the EU’s silk finished product exports amounted to 4.195 billion USD, a decrease of 10.05% year-on-year.

Among the top 20 export markets, only the exports to the UAE, Turkey, and three other markets increased, while exports to other markets declined. Exports to the United States slightly decreased by 0.51%, while exports to the UK and Switzerland decreased by over 12%. Exports to Japan and Taiwan decreased by over 40.5% (see Table 2).

Table 2: EU (27 countries) Silk Finished Product Export Statistics in 2024

Source: GTF

1.2 India

In 2024, India’s silk finished product exports totaled 3.212 billion USD, an increase of 14.53% year-on-year, making it the highest growth rate among the major suppliers.

India saw significant growth in exports to most major markets. Exports to the United States increased by 15.21%, accounting for 46.75% of total exports; exports to the EU and UAE rebounded, with growth rates of 13.28% and 26.86%, respectively; exports to Canada, Australia, and Mexico also saw significant increases (see Table 3).

Table 3: India Silk Finished Product Export Statistics in 2024

Source: GTF

1.3 Turkey

In 2024, Turkey’s silk finished product exports totaled 1.411 billion USD, an increase of 2.70% year-on-year.

Turkey’s exports to the EU, its largest market, turned positive, ensuring overall export growth. Exports to Uzbekistan, Saudi Arabia, Azerbaijan, Japan, and other markets saw significant increases. However, exports to Russia, Israel, and Canada showed notable declines (see Table 4).

Table 4: Turkey Silk Finished Product Export Statistics in 2024

1.4. United States

In 2024, the United States silk finished product exports continued to show a downward trend, with the decline expanding, resulting in a 10.51% decrease for the entire year.

Among the major markets, exports to Mexico, the largest market, turned from a significant decline in the previous year to growth, with the increase reaching 38.78% in mid-year, but it started to narrow in the fourth quarter. Exports to Canada, the second-largest market, continued to decrease slightly. Exports to the EU, the third-largest market, turned from an increase to a decrease. Exports to Hong Kong and Honduras saw large increases, while exports to the UK, Japan, and China showed a sharp decline (see Table 5).

Table 5: U.S. Silk Finished Product Export Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

1.5. China

In 2024, China’s silk finished product exports showed strong growth. Except for a decrease in January, exports have grown every month since February, with total exports reaching 701 million USD by the end of the year, a 5.07% year-on-year increase.

Key characteristics of exports to major markets:

1) In traditional markets, only exports to the United States grew, with a significant increase of 10.73%, further boosting its market share, while exports to the EU, Hong Kong, Japan, and the UK decreased.

2) In emerging markets, exports to most countries saw substantial growth. For more information on China’s silk trade, please visit the Textile Chamber of Commerce website (www.ccct.org.cn) in the silk section (see Table 6).

Table 6: China Silk Finished Product Export Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

2. Import Specifics from Major Sources among Major Markets

2.1. European Union (EU)

In 2024, the imports of EU’s silk finished product amounted to 5.293 billion USD, reversing the 5.7% decline from the previous year, with a year-on-year increase of 5.49%.

Among the top five major import sources, only imports from Turkey decreased, while imports from Vietnam saw the highest increase. China, as the largest import source for silk finished products to the EU, maintained its position, with its share increasing by 1.5 percentage points (see Table 7).

Table 7: EU Silk Finished Product Import Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

2.2. United States

In 2024, U.S. silk finished product imports showed a stable trend, shifting from a 19.37% decline in the previous year to a 1.18% year-on-year increase.

Among the top five major import sources, imports from the EU showed a slight decrease, while imports from other sources all experienced different levels of growth. Notably, imports from Vietnam and India increased significantly, with Vietnam surpassing India to become the third-largest source of imports for the U.S. China remains the largest supplier of imports to the United States (see Table 8).

Table 8: U.S. Silk Finished Product Import Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

2.3. United Kingdom

In 2024, the United Kingdom’s imports totaled 1.507 billion USD, a 0.57% year-on-year increase, marking the first recovery after several years of decline.

Imports from China, the largest source, turned from a 23.2% decrease in 2023 to a 7.84% increase. China was the only source in the top five where imports increased, while imports from other sources all showed declines, with a significant 25% drop in imports from Turkey. In contrast, imports from India, Vietnam, Cambodia, and other countries saw substantial growth (see Table 9).

Table 9: U.K. Silk Finished Product Import Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

2.4. Japan

In 2024, Japan’s silk finished product imports began to increase from the third quarter, reversing the previous decline, with a year-on-year growth of 0.29% for the entire year.

Imports from China, Bangladesh, and Indonesia continued to decline, while imports from Vietnam, Cambodia, and the EU continued to grow. China, despite a six-year consecutive decline in imports, remains Japan’s largest source of silk finished product imports (see Table 10).

Table 10: Japan Silk Finished Product Import Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

2.5. Australia

In 2024, Australia’s silk finished product imports reversed the 9.4% decline of the previous year, showing an 8.40% growth.

Imports from China stopped declining and began to increase, with a growth of 9.76%, compared to a 13.5% decline the previous year. Notably, Australia’s imports from Vietnam have increased for six consecutive years, with a 59.53% surge in 2024, making Vietnam its second-largest source (see Table 11).

Table 11: Australia Silk Finished Product Import Statistics in 2024
(Unit: 10,000 USD)

Source: GTF

3. Key Features

In 2024, the silk finished product trade volume of the 7 countries and the EU shifted from a 5.62% decline in the previous year to a 1.22% growth. Among this, exports changed from a 2.28% increase in the previous year to a 1.16% decline, while imports shifted from a 10.93% decrease to a 3.06% increase.

The specific features are as follows:

1.The trade volume of the EU, the U.S., and the U.K. continued to decline; while India’s and Turkey’s trade volumes maintained a growth. Japan, China, and Australia saw their trade volumes stop declining and rebound.

2.Among the 7 countries and the EU, no markets experienced a decline in both exports and imports.

3.Among the 7 countries and the EU, only India, Turkey, and China saw growth in exports, while the rest declined.

4.Among the 7 countries and the EU, only India and China saw a decline in imports, while the rest showed growth.

(esilk.net statement: The publication of this article is aimed at delivering more industry information, and the content of the article is for reference only.)

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