Trade Statistics of Major Markets in Raw Silk Industry January-September 2024

Source: China Chamber of Commerce for Import and Export of Textiles
Author: Silk Department
Date: February 25, 2025, 13:25:37

In the previous article, we learned about Japan’s silk commodity trade in January 2025. Interested friends can click this link to check it out. https://blog.docsunhomeandliving.com/japan-silk-goods-trade-statistics-2/Today we will focus on the main market trade statistics of the raw silk industry from January to September 2024.

China, India, Brazil, Japan, Vietnam, and the European Union (27 external) (hereinafter referred to as the “Five Countries and the EU”) are the most significant participants in the global silk trade. Based on the data provided by “Global Trade Watch” (GTF) in Dalian China, from the states’ national (regional) statistical agencies, this report analyzes the raw silk trade situation of these countries and the EU from January to September 2024 for reference.

I. Overall view

According to GTF data, from January to September 2024, the total silk trade volume of the Five Countries and the EU was USD 838 million, a year-on-year decrease of 12.37%; trade volume reached 20,000 tons, down 10.69% year-on-year. The trade value and trade volume of silk in various countries (regions) have declined to varying degrees.

Trade Statistics of Major Markets Exports:

The export value of the Five Countries and the EU was USD 450 million, down 8.57% year-on-year; export volume was 9,841.82 tons, down 7.52% year-on-year.

China, Vietnam, and Brazil, as major suppliers of filament silk, saw declines in both export value and volume. The export declines in China and Brazil exceeded 10%. India, as a major supplier of staple silk, saw an increase in both export value and volume, with export value rising by over 20%.

Trade Statistics of Major Markets Imports:

The total import value of the Five Countries and the EU was USD 387 million, a year-on-year decline of 16.41%; import volume was 10,200 tons, down 13.57% year-on-year.

Among the major markets, China saw growth in both import value and quantity, while all other markets experienced declines in import value and quantity (see Tables 1 and 2 for details).

Table 1: Statistics of Raw Silk and Yarn Trade Value for the Five Countries and the EU (Jan-Sep 2024)

Unit: USD million

(Data Source: GTF)

Table 2: Statistics of Raw Silk and Yarn Trade Volume for the Five Countries and the EU (Jan-Sep 2024)

Unit: Tons

(Data Source: GTF)

II. Overview of the Exports of Major Silk Suppliers

1. China

As a major supplier of filament silk, China’s exports continued to decline in the first three quarters. The export value was 287 million US dollars, a year-on-year decrease of 14.11%.

Exports to the top 4 major markets accounted for nearly 80% of China’s total raw silk exports. Among them, exports to the EU increased by 4.89%, while exports to other markets experienced significant declines.

In terms of export volume, exports to the traditional market of the EU increased slightly by 0.61%, while exports to India, Japan, and Vietnam decreased by more than 20% (see Table 3 for details).

(For more information on China’s raw silk trade, please visit the website of the China Chamber of Commerce for Import and Export of Textiles, www.ccct.org.cn, and query in the Silk Sub – Chamber section.)

Table 3: Statistics of China’s Raw Silk and Yarn Exports to Major Markets from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

2. Vietnam

From January to September, Vietnam’s raw silk exports experienced a decrease in volume but an increase in price. Its export value ranked second, reaching 93.7861 million US dollars, with a relatively small decrease of 0.38%. The export volume decreased by 4.30%, and the export unit price was 52.48 US dollars per kilogram, a year-on-year increase of 4.10%.
Judging from the export unit price, Vietnam’s exports to China are likely short – staple silk, while its exports to other major markets are likely filament silk.  
Among the major markets, exports to India decreased by 3.77%, but exports to Japan, Laos, and Thailand increased significantly (see Table 4 for details).

Table 4: Statistics of Vietnam’s Raw Silk and Yarn Exports to Major Markets from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

3. India

From January to September, India had a relatively large increase in raw silk exports among major silk suppliers, with an increase of 26.83%. The export value was 34.89 million US dollars.

India’s raw silk exports increased both in volume and price. Among them, the export volume increased by 2.41% year-on-year, and the unit price increased by 23.84% year-on-year.

China remains India’s largest market for raw silk exports. Exports to China accounted for 75.72% of the total export value and 88.52% of the total export volume (see Table 5 for details).

Table 5: Statistics of India’s Raw Silk and Yarn Exports to Major Markets from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

4. Brazil

As one of the major suppliers of filament silk, in the first three quarters, Brazil’s raw silk export value and volume both decreased, but the export unit price increased significantly (see Table 6 for details).

Table 6: Statistics of Brazil’s Raw Silk and Yarn Exports to Major Markets from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

5. EU

In the first three quarters of 2024, the EU’s raw silk exports ranked second only to Brazil. From January to September, the EU’s raw silk exports experienced a decrease in volume but an increase in price, and the export value decreased by 3.1% (see Table 7 for details).

Table 7: Statistics of EU (27 countries, external) Raw Silk and yarn Exports to Major Markets from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

III. Import Situation of Major Silk Markets

1. The EU

From January to September, the EU ranked first in raw silk imports, with an import value of 154 million US dollars, but it decreased by 9.16% year-on-year.

China remains the EU’s primary source of raw silk. The import value from China was 131 million US dollars, accounting for 85.11%, with a year-on-year decrease of 6.54%. However, imports from Brazil and Vietnam decreased even more significantly, by 34.72% and 36.65% respectively.

The EU imported 2,519.1 tons of raw silk, a year-on-year decrease of 9.69%. The average import unit price was 61.23 US dollars per kilogram, with a slight year – on – year increase (see Table 8 for details).

Table 8: Statistics of EU (27 – country external) Raw Silk and Yarn Imports from Major Sources from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

2. India

In the first three quarters of 2024, India ranked second only to the EU in raw silk imports, with an import value of 104 million US dollars, a year-on-year decrease of 24.85%.

The main sources of imports are Vietnam and China, with the combined import value/quantity accounting for over 99%. The import values from these two countries decreased by 11.18% and 43.91% respectively. The average import unit price was 64.19 US dollars per kilogram, with an increase of 18.68%. Vietnam has replaced China as India’s largest source of silk imports (see Table 9 for details).

Table 9: Statistics of India’s Raw Silk and Yarn Imports from Major Sources from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

3. China

From January to September, China was the only country among major silk markets with growth in imports. The import value was 47.6405 million US dollars, a year-on-year increase of 9.49%; the import volume was 4,671.84 tons, a year – on – year increase of 4.01%; and the import unit price was 10.20 US dollars per kilogram, with an increase of 5.27%.

China’s silk imports mainly come from India, Uzbekistan, North Korea, Vietnam, and Myanmar (see Table 10 for details).

Table 10: Statistics of China’s Raw Silk and Yarn Imports from Major Sources from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

4. Japan

From January to September 2024, Japan’s raw silk imports continued to decline. The import value was 41.7769 million US dollars, a year-on-year decrease of 11.95%.

China is Japan’s largest source of raw silk imports, accounting for 69.03% of the import value. Vietnam and Brazil follow. Except for imports from Vietnam, imports from other major sources declined.

The import volume decreased while the price increased. The import volume was 689.47 tons, a decrease of 16.20%, and the import unit price was 60.59 US dollars per kilogram, an increase of 5.08% (see Table 11 for details).

Table 11: Statistics of Japan’s Raw Silk and Yarn Imports from Major Sources from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

5. Vietnam

In the first three quarters, Vietnam had the largest decline in raw silk imports. The import value was 37.5370 million US dollars, a year-on-year decrease of 39.15%.

China, India, and Uzbekistan are Vietnam’s main sources of raw silk imports, accounting for over 99% in total. Imports from India increased significantly, while imports from China and Uzbekistan decreased significantly.

The import volume was 650.43 tons, a year-on-year decrease of 39.66%, and the import unit price was 57.71 US dollars per kilogram, with a year-on-year increase of 0.85% (see Table 12 for details).

Table 12: Statistics of Vietnam’s Raw Silk and Yarn Imports from Major Sources from January to September 2024

Unit: 10,000 US dollars, tons, US dollars/kg

(Data Source: GTF)

IV. Main Characteristics

From January to September, the main characteristics of raw silk trade among the five countries and the EU are as follows:

1. Overall, both the silk trade value and volume decreased.
2. Among the major suppliers, India and Japan saw growth in both export value and quantity, while China and Brazil experienced the most significant declines.
3. Among the major markets, only China had growth in both import value and quantity, while imports in other markets decreased in both aspects.
4. India’s export growth mainly benefited from a significant increase in exports to China and Vietnam, while China’s export decline was mainly due to a decrease in exports to major markets such as India, Japan, and Vietnam, except for an increase in exports to the EU.
5. There were significant fluctuations in exports and imports among all parties.

China Chamber of Commerce for Import and Export of Textiles
February 2025

(esilk.net statement: This website publishes this article to convey more industry information. The content of the article is for reference only.)

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