HS Code:
Certified hand-loomed and folklore products, along with headwear of cotton, fall under specific Harmonized System (HS) codes typically within chapters 50 to 63 (textiles and textile articles). These products include handwoven textiles, traditional folklore garments, and cotton headwear such as caps and hats. They are often associated with cultural heritage and artisanal craftsmanship, primarily produced in developing countries with rich textile traditions. Global trade in these products is driven by demand for sustainable and unique handmade goods in developed markets, alongside fashion trends favoring ethnic and traditional designs.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
UN Comtrade Database and World Trade Organization (WTO) Reports
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
15% (imposed by certain developed countries to protect domestic industries)
Lowest Rate
0% (under preferential trade agreements like GSP for least developed countries)
Rising demand for sustainable and ethical fashion
Increased exports from countries with certified hand-loomed products as consumers prioritize eco-friendly and artisanal goods
2021-2023
Growth in e-commerce platforms
Small-scale producers and exporters gain access to global markets, boosting trade volumes for niche folklore products
2020-2022
Fluctuations in cotton prices
Affects production costs and export pricing, particularly for cotton headwear, leading to market volatility
2022
The European Union extended its Generalized Scheme of Preferences (GSP+) for countries like Bangladesh and India, reducing tariffs on hand-loomed and folklore textiles to 0%.
January 2023
Significant boost in exports to EU markets, expected to increase trade volume by 10-15% over the next two years.
Updated rules under the US-Mexico-Canada Agreement tightened origin requirements for cotton headwear, impacting Mexican exports to the US.
July 2022
Slight reduction in Mexican exports due to compliance costs, though long-term stability expected with adjustments.
Major cotton-producing countries adopted stricter sustainability standards under international agreements, affecting headwear production.
March 2023
Increased production costs but improved market access to eco-conscious regions like Europe.