ASEAN: Silk Tie Market 2024

Silk Tie Market Size in ASEAN

The ASEAN silk tie market dropped to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a pronounced slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Silk Tie Production in ASEAN

In value terms, silk tie production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Silk Tie Exports

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in overseas shipments of ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted), when their volume increased by X% to X units. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silk tie exports soared to $X in 2022. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia dominates exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by Singapore (X units), constituting a X% share of total exports.

Malaysia was also the fastest-growing in terms of the ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted) exports, with a CAGR of X% from 2012 to 2022. At the same time, Singapore (X%) displayed positive paces of growth. From 2012 to 2022, the share of Malaysia increased by X percentage points.

In value terms, Malaysia ($X) emerged as the largest silk tie supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

In Malaysia, silk tie exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, reducing by X% against the previous year. Overall, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%).

Silk Tie Imports

Imports in ASEAN

In 2022, overseas purchases of ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted) were finally on the rise to reach X units after two years of decline. In general, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silk tie imports skyrocketed to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia was the major importer of ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted) in ASEAN, with the volume of imports accounting for X units, which was approx. X% of total imports in 2022. It was distantly followed by Singapore (X units), committing a X% share of total imports. Cambodia (X units) and Vietnam (X units) took a little share of total imports.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Cambodia (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported ties, bow ties and cravats of silk or silk waste (excluding knitted or crocheted) in ASEAN, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

In Singapore, silk tie imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Vietnam (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, reducing by X% against the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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