HS Code:
Artificial filament yarn (other than sewing thread), not put up for retail sale, including artificial monofilament of less than 67 decitex, falls under HS Code 5405. This category includes synthetic yarns made from materials like viscose rayon, cellulose acetate, and other artificial fibers. These products are primarily used in the textile industry for weaving, knitting, and other fabric manufacturing processes. They are essential in producing a variety of goods, including clothing, home textiles, and industrial fabrics. The trade of artificial filament yarn is influenced by factors such as raw material availability, manufacturing costs, and global demand for synthetic textiles.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$1.2 billion USD
48% of total trade of total trade
Increasing
$400 million USD
16% of total trade of total trade
Increasing
$250 million USD
10% of total trade of total trade
Stable
$200 million USD
8% of total trade of total trade
Stable
$150 million USD
6% of total trade of total trade
Decreasing
Average Rate
6.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-FTA or USMCA)
Rising demand for sustainable textiles
Increased focus on eco-friendly artificial yarns made from recycled materials or biodegradable fibers, driving innovation and investment in green technologies.
2021-2023
Shift in manufacturing to Asia-Pacific
Lower production costs and proximity to raw material sources have led to a concentration of production in countries like China and India, affecting global trade flows.
2019-2022
Technological advancements in fiber production
Development of high-performance artificial yarns with enhanced durability and elasticity has expanded applications in industrial and technical textiles.
2020-2023
The European Union introduced stricter environmental regulations on the production and import of artificial filament yarns, requiring compliance with sustainability benchmarks.
March 2023
Increased production costs for non-compliant exporters, but also opportunities for companies with sustainable practices to gain market share.
A new trade agreement between the US and China reduced tariffs on artificial filament yarn exports from China to the US, boosting trade volumes.
January 2023
Positive for Chinese exporters, potentially increasing competition for domestic US producers.
India announced investments in new manufacturing facilities for artificial filament yarn to meet growing domestic and international demand.
July 2022
Strengthens India's position as a key exporter, potentially reducing reliance on Chinese imports in neighboring markets.