In the previous blog, we discussed the sales of silk products in Japan from January to August 2024. For those interested, you can check out the previous article. In this blog, we’ll focus on the sales of silk products in India from January to August 2024.
Source: China Chamber of Commerce, Import and Export of Textiles
Author: Silk Department
Date: 2024-10-25 11:03:11
According to the statistics from the Indian Ministry of Commerce and Industry, from January to August, India’s silk goods trade reached USD 2.667 billion, a year-on-year increase of 10.03%. Of this, exports accounted for USD 2.362 billion, up 13.53% year-on-year, while imports stood at USD 305 million, down 11.05% year-on-year. (See attached tables for details)
Exports:
Table 1: Statistics on Indian Silk Goods Exports to Major Markets (Jan-Aug 2024)
| Country/Region | Export Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 236,177.00 | 100.00 | 13.53 |
| USA | 102,958.00 | 43.59 | 13.77 |
| EU (27 countries) | 43,468.00 | 18.40 | 7.43 |
| UAE | 18,544.00 | 7.85 | 26.77 |
| UK | 13,122.00 | 5.56 | 3.52 |
| Australia | 6,087.00 | 2.58 | 50.74 |
| Sri Lanka | 5,963.00 | 2.52 | 21.72 |
| Canada | 5,910.00 | 2.50 | 8.86 |
| Saudi Arabia | 4,062.00 | 1.72 | -7.87 |
| China | 2,922.00 | 1.24 | 16.93 |
| Bangladesh | 2,403.00 | 1.02 | 13.46 |
(Data Source: GTF)
Table 2: Export Value of Indian Silk Yarn to Major Markets (Jan-Aug 2024)
| Country/Region | Export Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 3,120.00 | 100.00 | 28.18 |
| China | 2,417.00 | 77.47 | 23.44 |
| Vietnam | 301.00 | 9.65 | 975.00 |
| EU (27 countries) | 126.00 | 4.04 | -45.22 |
| USA | 94.00 | 3.01 | 51.61 |
| Nepal | 83.00 | 2.66 | 18.57 |
| Bhutan | 57.00 | 1.83 | 0.00 |
(Data Source: GTF)
Table 3: Export Quantity of Indian Silk Yarn to Major Markets (Jan-Aug 2024)
| Country/Region | Export Volume (tons) | YoY (%) | Export Price (USD/kg) | YoY (%) |
| Total | 2,382.70 | 16.46 | 13.09 | 10.07 |
| China | 2,109.27 | 14.91 | 11.46 | 7.43 |
| Vietnam | 97.55 | 1152.25 | 30.86 | -14.15 |
| Nepal | 50.05 | 4.34 | 16.58 | 13.64 |
| Bangladesh | 44.62 | -37.62 | 1.12 | 60.31 |
| EU (27 countries) | 36.34 | -23.28 | 34.67 | -28.59 |
(Data Source: GTF)
Table 4: Export Value of Indian Silk Fabric to Major Markets (Jan-Aug 2024)
| Country/Region | Export Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 16,812.00 | 100.00 | 31.10 |
| Sri Lanka | 5,334.00 | 31.73 | 22.28 |
| UAE | 4,298.00 | 25.57 | 81.50 |
| Bangladesh | 1,797.00 | 10.69 | 84.69 |
| EU (27 countries) | 1,066.00 | 6.34 | 0.85 |
| USA | 1,019.00 | 6.06 | -19.51 |
| Kenya | 378.00 | 2.25 | 76.64 |
(Data Source: GTF)
Table 5: Export Value of Indian Silk Finished Products to Major Markets (Jan-Aug 2024)
| Country/Region | Export Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 216,245.00 | 100.00 | 12.17 |
| USA | 101,845.00 | 47.10 | 14.21 |
| EU (27 countries) | 42,276.00 | 19.55 | 7.92 |
| UAE | 14,246.00 | 6.59 | 16.20 |
| UK | 12,757.00 | 5.90 | 3.61 |
| Australia | 5,999.00 | 2.77 | 52.53 |
| Canada | 5,812.00 | 2.69 | 9.17 |
| Saudi Arabia | 3,999.00 | 1.85 | -8.41 |
| Nigeria | 2,021.00 | 0.93 | 72.59 |
| Mexico | 1,976.00 | 0.91 | 22.96 |
(Data Source: GTF)
Imports:
Table 6: Import Value of Indian Silk Goods from Major Sources (Jan-Aug 2024)
| Country/Region | Import Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 30,473.00 | 100.00 | -11.15 |
| China | 15,099.00 | 49.55 | 2.05 |
| Vietnam | 7,402.00 | 24.29 | -12.52 |
| Bangladesh | 2,386.00 | 7.83 | -42.19 |
| EU (27 countries) | 1,558.00 | 5.11 | 15.49 |
| Hong Kong, China | 828.00 | 2.72 | 12.35 |
| Sri Lanka | 744.00 | 2.44 | -44.23 |
| Taiwan, China | 368.00 | 1.21 | -11.75 |
| UAE | 281.00 | 0.92 | -68.14 |
(Data Source: GTF)
Table 7: Import Value of Indian Silk Yarn from Major Sources (Jan-Aug 2024)
| Country/Region | Import Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 9,066.00 | 100.00 | -25.37 |
| Vietnam | 6,326.00 | 69.78 | -13.29 |
| China | 2,651.00 | 29.24 | -42.82 |
| Brazil | 87.00 | 0.96 | -29.27 |
| EU (27 countries) | 2.00 | 0.02 | – |
(Data Source: GTF)
Table 8: Import Quantity of Indian Silk Yarn from Major Sources (Jan-Aug 2024)
| Country/Region | Import Volume (tons) | YoY (%) | Import Price (USD/kg) | YoY (%) |
| Total | 1,613.69 | -27.96 | 56.18 | 3.59 |
| Vietnam | 1,000.74 | -12.95 | 63.21 | -0.40 |
| China | 599.88 | -42.92 | 44.19 | 0.17 |
| Brazil | 12.78 | -33.75 | 68.08 | 6.76 |
| EU (27 countries) | 0.29 | 2800.00 | 68.97 | – |
(Data Source: GTF)
Table 9: Import Value of Indian Silk Fabric from Major Sources (Jan-Aug 2024)
| Country/Region | Import Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 11,695.00 | 100.00 | 17.77 |
| China | 8,526.00 | 72.90 | 41.53 |
| Hong Kong, China | 701.00 | 5.99 | 12.16 |
| Sri Lanka | 582.00 | 4.98 | -49.74 |
| Vietnam | 553.00 | 4.73 | -14.00 |
| Taiwan, China | 365.00 | 3.12 | -8.52 |
| EU (27 countries) | 352.00 | 3.01 | 40.24 |
| South Korea | 169.00 | 1.45 | -0.59 |
(Data Source: GTF)
Table 10: Import Value of Indian Silk Finished Products from Major Sources (Jan-Aug 2024)
| Country/Region | Import Value (in USD 10,000) | Share (%) | YoY (%) |
| Total | 9,712.00 | 100.00 | -20.52 |
| China | 3,922.00 | 40.38 | -5.17 |
| Bangladesh | 2,364.00 | 24.34 | -42.44 |
| EU (27 countries) | 1,204.00 | 13.01 | 9.65 |
| Vietnam | 523.00 | 5.39 | 0.19 |
| UAE | 276.00 | 2.84 | -68.64 |
| USA | 218.00 | 2.24 | 44.37 |
(Data Source: GTF)
This report primarily analyzes the import and export of silk goods in India from January to August 2024. According to statistics from the Ministry of Commerce and Industry in India, India’s silk trade reached USD 2.667 billion, marking a year-on-year increase of 10.03%. Among this, exports accounted for USD 2.362 billion, growing 13.53% year-on-year, while imports stood at USD 305 million, showing a decrease of 11.05% year-on-year.
Key Highlights:
- Exports:
- Main Markets: India’s main silk export markets include the USA, EU, UAE, the UK, and Australia. The USA is the largest market, with a share of 43.59% and a year-on-year increase of 13.77%.
- Silk Yarn Exports: India’s total silk yarn exports reached USD 31.2 million, with a substantial year-on-year increase of 28.18%. China is the primary market, accounting for 77.47% of the total exports.
- Silk Fabric Exports: Silk fabric exports amounted to USD 16.81 million, increasing by 31.1% year-on-year. The demand in markets like the UAE and Sri Lanka grew significantly in this category.
- Imports:
- Main Source Countries: India’s primary silk import sources are China, Vietnam, and Bangladesh. China remains the largest supplier, contributing 49.55% of the total imports, with a slight year-on-year increase of 2.05%.
- Silk Yarn Imports: Silk yarn imports totaled USD 9.066 million, a year-on-year decrease of 25.37%, with Vietnam being the largest supplier at 69.78%.
- Silk Fabric Imports: Silk fabric imports grew 17.77% year-on-year, with imports from China making up 72.9% of the total.
Trends and Analysis:
- In export markets, demand from countries such as the USA and UAE has shown steady growth, especially for fabric products, with demand surging in Middle Eastern markets.
- On the import side, India remains highly dependent on China, particularly for silk fabrics. However, with reduced demand in multiple countries, the overall import value has declined.
The report indicates that Indian silk products are becoming increasingly competitive in the international market, while highlighting changes in import source countries and the impact of price fluctuations. This information provides valuable reference points for companies formulating strategies in the global silk market.
Disclaimer by esilk.net: This article is published to convey more industry information, and the content is for reference only.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/
