Raw silk market in Latin America and the Caribbean

Earlier Report Observations

The raw silk market in Latin America and the Caribbean contracted significantly from 743.5 tons in 2018 to 385.6 tons by 2023. This overall decline began as the region joined the Belt and Road Initiative in early 2018, an opening intended to boost trade and investment flows, including for textiles and silk.

A temporary recovery to 441.7 tons in 2021 aligned with efforts to strengthen regional silk institutions, which provided technical assistance to producers with a focus on sustainable and equitable small-scale production. Market volume fell again in the following year, even as industry reports highlighted growing consumer demand for natural and sustainable textile products as a potential growth driver.

International financial and trade uncertainty in 2023 was a noted factor influencing the market, coinciding with its reduction to 385.6 tons. The period through 2024 was further shaped by deepening trade ties with China and infrastructure projects like the Mega port of Chancay in Peru, factors relevant to market access and supply chain logistics for silk.

Production raw silk in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of raw silk, 2017-2020

World map of production of raw silk, 2017-2020

Raw silk production in Latin America and the Caribbean fell for the second year in a row. In 2019, the region produced 469.0 tonnes, but this dropped to 377.0 tonnes in 2020, marking a 19.6% decrease. Over the four-year period from 2017 to 2020, production declined by 37.2%, with an average annual reduction of 14.3%. The highest output was in 2018 at 650.0 tonnes, which saw an 8.3% increase from the previous year. However, the sharpest drop occurred in 2019, with a 27.8% fall.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

Exports raw silk from Latin America and the Caribbean

According to market research data, there were no exports of raw silk from Latin America and the Caribbean between 2017 and 2020.

Imports raw silk to Latin America and the Caribbean

Imports in kind, kg

Raw silk imports into Latin America and the Caribbean decreased for the second consecutive year. In 2019, imports stood at 67 700 kg, but fell to 48 264 kg in 2020, a decline of 28.7%. From 2017 to 2020, imports dropped by 47.5%, with an average annual decrease of 19.3%. The peak import volume was in 2018 at 93 526 kg, which represented a 1.8% increase from the year before.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, kg

Between 2017 and 2020, China was the dominant supplier of raw silk to Latin America and the Caribbean, accounting for 97.7% of total imports by volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

The value of raw silk imports into Latin America and the Caribbean declined for the second year in a row. In 2019, imports were valued at 3 408 thousand US dollars, but this dropped sharply to 2 157 thousand US dollars in 2020, a 36.7% reduction. Over the 2017-2020 period, import values fell by 48.5%, with an average annual decline of 19.8%. The highest value was recorded in 2018 at 5 243 thousand US dollars, which saw a 25.3% increase from the previous year.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, China was the primary source of raw silk imports into Latin America and the Caribbean, making up 97.8% of the total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020