After two months of decrease, overseas purchases of silk yarn and yarn spun from silk waste saw a notable uptick in September 2023, when their volume jumped by 47% to 192 tons. Imports generally show that the trend pattern is still somewhat flat. January 2023 saw the fastest growth rate, up 75% month over month.
Imports of silk yarn increased dramatically in value, reaching $16 million (IndexBox estimates) in September 2023. Total imports showed a modest increase between September 2022 and September 2023 during the study period; over the previous 12 months, its value grew at an average monthly rate of +1.8%. On the other hand, the trend pattern showed several distinct variations that were noted over the course of the analysis. Compared to August 2023 indices, imports rose by +54.1% based on September 2023 data. With a month-over-month gain of 88%, January 2023 saw the fastest growth pace.
With 125 tons, or 65% of Italy’s total imports, Romania was the country that supplied the most silk yarn to the country in September 2023. Furthermore, Romanian imports of silk yarn doubled the amount reported by China, the second-largest source, which was 52 tons.
Between September 2022 and September 2023, Romania’s volume increased at an average monthly rate of +3.3%. The average monthly growth rates of imports for the remaining providing nations were as follows: Vietnam (-2.3% per month) and China (-4.2% per month).
With a value of $11 million, Romania was Italy’s top supplier of silk yarn, accounting for 69% of all imports. China ($3.3M) ranked second in the ranking, accounting for 21% of all imports.
Romania’s average monthly growth rate in terms of value from September 2022 to September 2023 was +4.7%. The average monthly growth rates of imports for the remaining providing nations were as follows: Vietnam (-2.4% per month) and China (-3.8% per month).
