Singapore: Raw Silk Market 2024

Raw Silk Market Size in Singapore

The Singaporean raw silk market rose to $X in 2023, surging by X% against the previous year. In general, consumption recorded a slight reduction. Raw silk consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Raw Silk Production in Singapore

In value terms, raw silk production expanded to $X in 2023 estimated in export price. In general, production, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

The average yield of raw silk in Singapore was estimated at less than X kg per ha in 2023, almost unchanged from 2022. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the raw silk harvested area in Singapore stood at less than X ha, approximately reflecting the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern.

Raw Silk Exports

Exports from Singapore

After two years of decline, shipments abroad of raw silk increased by X% to X kg in 2023. Overall, exports, however, continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, raw silk exports skyrocketed to $X in 2023. Over the period under review, exports, however, faced a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

India (X kg), Vietnam (X kg) and Indonesia (X kg) were the main destinations of raw silk exports from Singapore, together comprising X% of total exports. Malaysia and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Vietnam ($X), India ($X) and Malaysia ($X) constituted the largest markets for raw silk exported from Singapore worldwide, with a combined X% share of total exports.

Among the main countries of destination, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2023, the average raw silk export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Raw Silk Imports

Imports into Singapore

In 2023, imports of raw silk into Singapore shrank sharply to X kg, which is down by X% compared with the year before. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, raw silk imports shrank rapidly to $X in 2023. Overall, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports remained at a lower figure.

Imports by Country

China (X kg), India (X kg) and Malaysia (X kg) were the main suppliers of raw silk imports to Singapore, together accounting for X% of total imports. Thailand, the United States, Italy and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest raw silk suppliers to Singapore were Italy ($X), the United States ($X) and India ($X), together accounting for X% of total imports. Thailand, China, Germany and Malaysia lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average raw silk import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform