In 2024, the forecast for China's silk imports stands at $24.23 million, expected to decrease significantly over the next five years to $6.6906 million by 2028. Compared to 2023, a downward trend is evident, suggesting a reduction in demand or a shift in domestic policy or production capabilities. The year-on-year decrease from 2024 to 2025 is approximately 18.66%. The compound annual growth rate (CAGR) from 2024 to 2028 is sharply negative, indicating a consistent decline in imports annually. This trend highlights a potential increase in self-sufficiency or changing preferences within the domestic market.
Future trends to watch for include:
- Potential policy changes in China that may impact silk import tariffs or quotas.
- Advancements in domestic silk production technology improving efficiency and reducing import reliance.
- Shifts in global silk prices affecting China's import strategies.
- Consumer trends towards alternative materials influencing demand for silk.
