ISSN 2284-7995, ISSN Online 2285-3952
 

NEW TRENDS IN THE GLOBAL AND EUROPEAN UNION RAW SILK TRADE IN THE PERIOD 20 3-2022

Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 24 ISSUE 2
Written by Agatha POPESCU, Toma Adrian DINU, Elena STOIAN, Valentin ŞERBAN, Horia Nicolae CIOCAN

The purpose of this research was to identify the main tendencies in raw silk trade at the global level and in the EU main producing and trading countries like China and India in Asia, and Italy, France, Romania, Germany and Spain in the EU. To attain this goal, the data referred to the last decade divided into two sub-periods 20 3-20 7 and 20 8-2022 for allowing the comparison and quantification of the differences. The methodological procedures included the use of fixed basis indices, absolute and relative differences among sub-periods, comparison, trend regression equations and R square served as statistical tools to process the data from ITC and OEC World. The results pointed out the decline by 43.2% in world raw silk production which attained 9 thousand MT in 2022 vs 20 3. The global raw silk export decreased from USD 3. 2 Billion in 20 3 to USD .9 Billion in 2022 (-38.8%), while the import went down by 38.8% from USD 2.4 Billion to USD .65 Billion (-3 .54%). In consequence, trade balance remained positive at USD 0.26 Billion in 2022, but being 2.5 times smaller than in 20 3. In the EU, in 2022, raw silk export was USD 0.46 Billion (-46.5% lower vs 20 3), while import value attained USD 0.62 Billion (-37.4% vs 20 3), resulting a negative balance of - USD 0. 6 Billion. China maintained its top position as a silk producer and exporter, with a positive trade balance, but negative in 2020-2022. The Asian competitors India, Uzbekistan and Vietnam increased production and their trade as well. The EU is a very important raw silk importer, so that its trade balance is negative (-USD 0. 6 Billion in 2022). Italy is a remarkable top silk importer in the world, and France, Romania, Germany and Spain are also representatives. Silk textiles remain of high attraction for fashion industry, a reason to expect as production and commerce to flourish in the future, as in the EU is a new orientation to reduce the wastes caused by fast fashion based on synthetic fibers and to encourage the production of healthier and environment friendly natural fibers like silk which has to sustain fashion, textile and apparel industries.

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POPESCU A., DINU T.A., STOIAN E., SERBAN V., CIOCAN H.N. 2024, NEW TRENDS IN THE GLOBAL AND EUROPEAN UNION RAW SILK TRADE IN THE PERIOD 20 3-2022. Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 24 ISSUE 2, PRINT ISSN 2284-7995, 787-798.

The publisher is not responsible for the opinions published in the Volume. They represent the authors’ point of view.

© 2019 To be cited: Scientific Papers. Series “Management, Economic Engineering in Agriculture and Rural Development“.

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