HS Code:
The category of Carpets and other textile floor coverings, knotted, whether or not made up (HS Code: 5701) includes handmade or machine-knotted carpets and rugs made from various materials such as wool, silk, cotton, and synthetic fibers. These products are used for decorative and functional purposes in residential, commercial, and industrial settings. This category is distinct for its craftsmanship, often reflecting cultural heritage, especially in regions with a long history of carpet weaving. Global trade in this category is influenced by factors such as labor costs, raw material availability, and consumer preferences for sustainable and artisanal products.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.2 billion
48% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 300 million
12% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Decreasing
USD 100 million
4% of total trade of total trade
Stable
Average Rate
8.5%
Highest Rate
25% (imposed by certain countries on non-preferential trade partners)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Rising demand for sustainable and eco-friendly carpets
Increased market share for producers using natural dyes and organic materials, especially in Europe and North America
2021-2023
Shift towards e-commerce platforms for sales
Small and medium enterprises in developing countries gain access to global markets, boosting export volumes
2020-2023
Decline in demand for synthetic knotted carpets
Traditional wool and silk carpet producers see competitive advantage, though overall market growth slows in price-sensitive segments
2019-2022
The European Union introduced new regulations requiring carpets to meet specific environmental and labor standards, including traceability of raw materials.
January 2023
Exporters from developing countries may face higher compliance costs, potentially reducing competitiveness unless supported by government or trade programs.
Continued sanctions on Iranian goods, including carpets, limit market access to the US, redirecting Iranian exports to Asian and Middle Eastern markets.
March 2022
Iranian carpet exporters lose share in the lucrative US market, benefiting competitors like India and Turkey.
The Indian government introduced subsidies and training programs to boost handmade carpet exports, focusing on sustainable production techniques.
July 2022
Expected to increase Indiaโs export volume by 10-15% over the next two years, solidifying its position as the market leader.