Trends and Challenges in the Global Silk Industry: A Statistical Analysis of Globalization Effects
Narottam Atree *
Department of Agricultural Economics, College of Agriculture, IGKV, Raipur, Chhattisgarh, India.
V.K. Choudhary
Department of Agricultural Economics, College of Agriculture, IGKV, Raipur, Chhattisgarh, India.
*Author to whom correspondence should be addressed.
Abstract
This study examines the impact of globalization on the silk industry across various countries. Utilizing statistical methods such as R-squared, skewness, kurtosis, standard deviation, and compound growth rate (CGR), the research analyzes the production and economic performance of the silk industry in India, China, Japan, Brazil, Korea, Uzbekistan, Thailand, and Vietnam. The results highlight significant disparities influenced by global economic trends and local industry practices. Globalization has a mixed impact on the silk industry worldwide. While it has enabled some countries to enhance their production capabilities, others have struggled to maintain growth amidst changing global dynamics. Future research should focus on exploring the specific factors driving these trends and developing strategies to support sustainable growth in the silk industry.
Keywords: Silk market, global silk industry, instablility, sustainability