Woven ties, bow ties and cravats of silk or silk waste market in Austria

Earlier Report Observations

The Austrian market for woven silk ties contracted sharply in 2020, with volume falling to 19,724 units from 47,622 units in 2019, and further declining to 17,308 units in 2021. A partial recovery followed in 2023, with market volume reaching 18,516 units. In value terms, the market dropped from $5.2 million in 2019 to $2.8 million in 2020 and $2.0 million in 2021, before rebounding to $2.7 million in 2023.

Before the downturn, the market in 2019 was supported by the introduction of ties made from material blends like cotton-silk and an expanded range of widths and designs, which broadened consumer choice and helped maintain demand.

The market recovery in 2023 aligned with a renewed consumer interest in silk ties as fashionable status symbols, particularly among younger, career-focused demographics. This trend, alongside a general industry emphasis on quality and sustainability, contributed to the resurgence in demand.

Production woven silk ties and bow ties in Austria

In value, 2017-2020, K $ US

In 2020, Austria's production of woven ties, bow ties, and cravats made from silk or silk waste was valued at 95.6 thousand US dollars, marking a sharp decline of 43.4% compared to 2019. From 2017 to 2020, production fell by 86%, which translates to an annualized decrease of 48.1%.

Annual dynamics of production in Austria in value, 2017-2020, K $ US

In kind, 2017-2020, unit

In 2020, Austria produced 5,343 units of woven ties, bow ties, and cravats made from silk or silk waste, representing a year-over-year drop of 63.9%. Between 2017 and 2020, production decreased by 78.5%, equating to an annualized rate of 40.1%.

Annual dynamics of production in Austria in kind, 2017-2020, unit

Exports woven silk ties and bow ties from Austria

Exports in kind, unit

Austria's exports of woven ties, bow ties, and cravats made from silk or silk waste declined for the third year in a row. In 2020, exports totaled 2,713 units, down 31.0% from the previous year. From 2017 to 2020, exports fell by 60.7%, with an annualized decrease of 26.8%.

Annual dynamics of product's exports from Austria in kind, 2017-2020, unit

Between 2017 and 2020, Germany, Romania, and Hungary were the top contributors to Austria's exports in kind. Germany accounted for 31.0% of exports, Romania for 12.6%, and Hungary for 10.9%, together making up 54.6% of total export flows.

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

World map of product's exports from Austria in kind, 2017-2020

Exports in value, K $ US

Austria's exports of woven ties, bow ties, and cravats made from silk or silk waste declined for the third consecutive year. In 2020, exports reached 541 thousand US dollars, a sharp decrease of 32.3% compared to the previous year. Over the period from 2017 to 2020, exports dropped by 55.8%, with a compound annual growth rate of -23.8%.

Annual dynamics of product's exports from Austria in value, 2017-2020, K $ US

From 2017 to 2020, Germany, Romania, and Hungary formed the core markets for Austria's exports in value terms. Germany represented 33.7% of exports, Romania 10.8%, and Hungary 10.3%, collectively accounting for 54.8% of total export flows.

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

World map of product's exports from Austria in value, 2017-2020

Imports woven silk ties and bow ties to Austria

Imports in kind, unit

Austria's imports of woven ties, bow ties, and cravats made from silk or silk waste fell for the second year in a row. In 2020, import volume stood at 17,094 units, a steep decline of 53.5% compared to 2019. Between 2017 and 2020, imports decreased by 56.1%, with an annualized rate of 24.0%. The highest import volume was recorded in 2018 at 44,936 units, following a 15.4% increase that year.

Annual dynamics of product's imports to Austria in kind, 2017-2020, unit

Between 2017 and 2020, Germany, China, and Italy were the main sources for Austria's imports in kind. Germany contributed 54.7% of imports, China 21.5%, and Italy 11.0%, together representing 87.1% of total import flows.

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

World map of product's imports to Austria in kind, 2017-2020

Imports in value, K $ US

Austria's imports of woven ties, bow ties, and cravats made from silk or silk waste declined for the second consecutive year. In 2020, import value totaled 3,256 thousand US dollars, down 44.4% year-over-year. From 2017 to 2020, imports decreased by 49%, with a compound annual growth rate of -20.1%. The peak import value was in 2018 at 7,014 thousand US dollars, after a 9.8% increase that year.

Annual dynamics of product's imports to Austria in value, 2017-2020, K $ US

From 2017 to 2020, Germany, Italy, and China led Austria's import structure in value terms. Germany accounted for 40.9% of imports, Italy for 27.0%, and China for 15.5%, together making up 83.4% of total import flows.

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

World map of product's imports to Austria in value, 2017-2020