Silk has been known for years to be an overwhelming economic impact on the world of finance in many ways, beginning with the China connection back one thousand years.
We know of many facets of financial woes because of this fine fabric. It may be because of the dynasty’s that have come to have a real say in the monetary value of silk, but we all know that many countries have had their hand in manufacturing this fabric. The economy of China has benefited largely from the sheer numbers of factories in the provinces of this Asian nation. At one time 28% of its gross domestic product was silk export. Up to half of Japans export was Silk at one time as well. Of course with many nations getting into the act of manufacturing this fine material, times have changed.
Widely known for its upper echelon clientele, silk, currently, has more average folks, purchasing clothes, made of silk now than ever before. In the United States, silk apparel poses a true threat to cotton, which for many years had a wide spread in the purchase of clothes. Silk exporters have many opportunities to sell western nations with our thirst for luxury. The USA imports 11 billion a year in silk and silk related material. Not to mention, silk is actually made in the USA as well currently. Most of it is what’s called NO KILL silk. This process is great because the moth is let out of the cocoon. The US is no match for manufacturing of silk, compared to the orient or India.
The US does, however lead the world in buying silk. It is closely estimated that the United States purchases 75% of the silk manufactured throughout the world. In the case of charmeuse silk, which is usually utilized for softer female apparel, the US has imported more than 2 million tons and that is just for blouses. Other silks like Dupioni are used for more substantial commodities as drapes, comforters and even Car seat covers. These silk fabrics are double and triple weaved for thickness, yet still have that wonderful silk feel. The import of Dupioni silk has quadrupled in the past 10 years in the North American Geographical area. Dupioni silk sometimes gets confused with Georgette silk. This is due to the longer weave they both have, although they don’t look alike to the naked eye, the true silk aficionado can feel it.
One of the upcoming economic powers of silk is Indonesia. This largely Muslim nation has an Asian twang, when it comes to silk manufacturing and its economic effects on the country. Most of its silk is manufactured for clothing to Australia and New Zealand. These two countries use the geographic location to its advantage, by wholesaling it to the rim of Asia. 4 Billion US dollars are invested in the GNP for this nation. Silk drapes are huge in this part of the world, for manufacturing most of the west’s need for luxury in this category.
Lastly, without having silk in our economies, there is a 2% deficit in the world economies, as a whole. It is safe to say, where we would be without silk. For we are nations of need and want for sure.
Extensive traveling throughout Asia, Europe, and Middle East. Over 20 years of retail experience.