In 2023, China's silk export value stood significantly, indicating its crucial role in the global silk market. Forecast from 2024 shows a consistent declining trend, starting at $528.0 million in 2024 and projected to reach $466.59 million by 2028. This represents a predicted annual decrease of approximately 3% to 4% per year. The compounded annual growth rate (CAGR) for 2024-2028 would be negative, highlighting potential challenges within the silk export sector.
Future trends to watch for include:
- Potential impacts from shifting global trade policies and tariffs.
- Rising competition from alternative silk-producing nations.
- Technological advancements in textile production.
- Increasing demand for sustainable and ethically produced silk.
