Trade Statistics of Major Markets in Raw Silk Industry January-September 2024
In the previous article, we analyzed Japan’s silk commodity trade. Today, we focus on the raw silk industry statistics from January to September 2024. At Docsun Home and Living, we closely monitor these global trends to provide the best custom printing services for our clients.
China, India, Brazil, Japan, Vietnam, and the European Union are the most significant participants. Based on “Global Trade Watch” (GTF) data, this report analyzes the raw silk trade situation for these regions.
I. Overall View
According to GTF data, 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.
Trade Statistics of Major Markets Exports:
The export value was USD 450 million (down 8.57%), and volume was 9,841.82 tons (down 7.52%). China, Vietnam, and Brazil saw declines, while India saw an increase of over 20% in export value.
Trade Statistics of Major Markets Imports:
The total import value was USD 387 million (down 16.41%). China saw growth in both import value and quantity, contrasting with declines in other markets.
Table 1: Statistics of Raw Silk and Yarn Trade Value (Jan-Sep 2024)
Unit: USD million
| Country/Region | Total Trade Value | YoY % | Export Value | Import Value |
|---|---|---|---|---|
| Total | 837.58 | -12.37 | 450.37 | 387.20 |
| China | 334.57 | -11.39 | 286.93 | 47.64 |
| EU (27 external) | 169.05 | -8.66 | 14.81 | 154.23 |
| India | 138.47 | -16.25 | 34.89 | 103.58 |
| Vietnam | 131.32 | -15.72 | 93.79 | 37.54 |
| Japan | 44.83 | -9.79 | 3.05 | 41.78 |
| Brazil | 19.34 | -13.37 | 16.90 | 2.44 |
(Data Source: GTF)
Table 2: Statistics of Raw Silk and Yarn Trade Volume (Jan-Sep 2024)
Unit: Tons
| Country/Region | Total Volume | YoY % | Export Volume | Import Volume |
|---|---|---|---|---|
| Total | 19,999.20 | -10.69 | 9,841.82 | 10,156.32 |
| China | 9,875.37 | -4.94 | 5,203.53 | 4,671.84 |
| India | 3,997.49 | -18.00 | 2,382.75 | 1,613.69 |
| EU (27 external) | 2,741.27 | -9.68 | 222.18 | 2,519.10 |
| Vietnam | 2,437.53 | -17.24 | 1,787.10 | 650.43 |
| Japan | 718.47 | -15.38 | 29.01 | 689.47 |
| Brazil | 229.06 | -23.59 | 217.26 | 11.80 |
II. Overview of the Exports of Major Silk Suppliers
1. China
As a major supplier, China’s exports declined to USD 287 million (-14.11%). Exports to the EU increased by 4.89%, while exports to India, Japan, and Vietnam dropped significantly. For specific sourcing inquiries, you can send us a message directly.
Table 3: China’s Raw Silk Exports to Major Markets
| Market | Export Value ($10k) | YoY % |
|---|---|---|
| Global | 28693.08 | -14.11 |
| EU | 13837.45 | 4.89 |
| India | 4286.50 | -42.25 |
| Japan | 2717.11 | -17.85 |
| Vietnam | 1931.88 | -48.86 |
2. Vietnam
Vietnam ranked second with USD 93.79 million (-0.38%). While export volume dropped, unit price increased. Exports to Japan, Laos, and Thailand saw significant growth.
3. India
India saw a 26.83% increase in export value (USD 34.89 million), driven by demand from China, which accounts for 75.72% of its total export value.
4. Brazil & 5. EU
Brazil’s exports dropped by 12.65%, primarily to the EU and Japan. The EU’s exports decreased by 3.10%, mainly due to a drop in volume despite a price increase.
III. Import Situation of Major Silk Markets
1. The EU
The EU remains the top importer (USD 154 million), though this represents a 9.16% decline. China is the primary source, accounting for 85.11% of imports.
2. India
India’s imports fell by 24.85%. Vietnam has replaced China as India’s largest source of silk imports.
3. China
China was the only market with import growth (+9.49%), mainly sourcing from India, Uzbekistan, and North Korea.
4. Japan & 5. Vietnam
Japan’s imports declined by 11.95%, and Vietnam saw the largest drop of 39.15%.
IV. Main Characteristics
- Overall decrease in both trade value and volume.
- India and Japan saw export growth, while China and Brazil declined.
- China was the only market with import growth.
- Significant fluctuations in trade flow between major partners.
(Statement: This article conveys industry information for reference. Sourced from China Chamber of Commerce for Import and Export of Textiles.)
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