Latin America and the Caribbean: Silk Fabric Market 2024

Silk Fabric Market Size in Latin America and the Caribbean

In 2023, the Latin American silk fabric market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Silk Fabric Production in Latin America and the Caribbean

In value terms, silk fabric production contracted modestly to $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Silk Fabric Exports

Exports in Latin America and the Caribbean

In 2023, approx. X square meters of woven fabrics of silk or of silk waste were exported in Latin America and the Caribbean; falling by X% compared with the previous year. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X square meters in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, silk fabric exports dropped slightly to $X in 2023. Overall, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2022 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Chile represented the largest exporting country with an export of about X square meters, which resulted at X% of total exports. El Salvador (X square meters) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Panama (X%). The following exporters - Honduras (X square meters), Guatemala (X square meters), Brazil (X square meters) and Peru (X square meters) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) remains the largest silk fabric supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by El Salvador ($X), with an X% share of total exports. It was followed by Panama, with an X% share.

In Chile, silk fabric exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (X% per year) and Panama (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2023, with an increase of X% against the previous year. In general, the export price showed a modest increase. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the export prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per square meter), while Guatemala ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced more modest paces of growth.

Silk Fabric Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of woven fabrics of silk or of silk waste increased by X% to X square meters, rising for the third year in a row after eight years of decline. Over the period under review, imports, however, recorded a abrupt decrease. The volume of import peaked at X square meters in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, silk fabric imports contracted sharply to $X in 2023. In general, imports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Bolivia (X square meters) was the main importer of woven fabrics of silk or of silk waste, achieving X% of total imports. Brazil (X square meters) ranks second in terms of the total imports with a X% share, followed by Guatemala (X%) and El Salvador (X%). Colombia (X square meters), the Dominican Republic (X square meters), Nicaragua (X square meters), Argentina (X square meters), Chile (X square meters) and Trinidad and Tobago (X square meters) held a little share of total imports.

Bolivia was also the fastest-growing in terms of the woven fabrics of silk or of silk waste imports, with a CAGR of X% from 2012 to 2023. At the same time, Nicaragua (X%), the Dominican Republic (X%), El Salvador (X%), Trinidad and Tobago (X%) and Guatemala (X%) displayed positive paces of growth. By contrast, Colombia (X%), Brazil (X%), Chile (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Bolivia (X p.p.), El Salvador (X p.p.), Guatemala (X p.p.), the Dominican Republic (X p.p.) and Nicaragua (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Chile (X p.p.), Argentina (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported woven fabrics of silk or of silk waste in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by the Dominican Republic, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2023, declining by X% against the previous year. Overall, the import price recorded a abrupt descent. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per square meter in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per square meter), while Bolivia ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform