Latin America and the Caribbean: Silk Yarn Market 2024

Silk Yarn Market Size in Latin America and the Caribbean

The Latin American silk yarn market totaled $X in 2023, approximately equating the previous year. Over the period under review, consumption, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Silk Yarn Production in Latin America and the Caribbean

In value terms, silk yarn production stood at $X in 2023 estimated in export price. Overall, production, however, showed a abrupt slump. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

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Silk Yarn Exports

Exports in Latin America and the Caribbean

In 2023, approx. X tons of silk yarn and yarn spun from silk waste were exported in Latin America and the Caribbean; declining by X% against the previous year. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, silk yarn exports shrank slightly to $X in 2023. In general, exports showed a mild descent. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Brazil prevails in exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Mexico (X tons), achieving an X% share of total exports. Peru (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to silk yarn exports from Brazil stood at X%. At the same time, Peru (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Mexico (X p.p.) and Peru (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Brazil ($X) remains the largest silk yarn supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with an X% share of total exports.

In Brazil, silk yarn exports declined by 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: Mexico (X% per year) and Peru (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Silk Yarn Imports

Imports in Latin America and the Caribbean

In 2023, overseas purchases of silk yarn and yarn spun from silk waste increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, silk yarn imports rose remarkably to $X in 2023. Total imports indicated a buoyant expansion 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, imports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

In 2023, Peru (X tons) represented the major importer of silk yarn and yarn spun from silk waste, comprising X% of total imports. Guatemala (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (X%), Haiti (X%) and Costa Rica (X%). Chile (X tons) and Colombia (X tons) took a little share of total imports.

Peru was also the fastest-growing in terms of the silk yarn and yarn spun from silk waste imports, with a CAGR of X% from 2012 to 2023. At the same time, Costa Rica (X%), Chile (X%) and Guatemala (X%) displayed positive paces of growth. By contrast, Colombia (X%), Brazil (X%) and Haiti (X%) illustrated a downward trend over the same period. While the share of Peru (X p.p.), Costa Rica (X p.p.), Guatemala (X p.p.) and Chile (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Haiti (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 ($X), Peru ($X) and Guatemala ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2023: its price 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, silk yarn import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform