HS Code:
The category 'Containing 50 percent or more by weight of cotton, man-made fibers or any combination thereof' typically falls under various HS Codes depending on the specific product (e.g., woven fabrics under HS Chapter 52 for cotton or Chapter 54/55 for man-made fibers). This category includes textiles and fabrics primarily composed of cotton, synthetic, or artificial fibers, used in apparel, home textiles, and industrial applications. These products are significant in global trade due to their widespread use in the fashion and textile industries, with trade influenced by factors like raw material availability, labor costs, and trade agreements.
Total Trade Volume
Approximately $120 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
$45 billion USD
37.5% of total trade of total trade
Increasing
$18 billion USD
15.0% of total trade of total trade
Increasing
$12 billion USD
10.0% of total trade of total trade
Stable
$10 billion USD
8.3% of total trade of total trade
Increasing
$8 billion USD
6.7% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
Up to 25% (imposed by certain countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA or USMCA for qualifying goods)
Shift towards sustainable fibers
Increased demand for organic cotton and recycled man-made fibers due to consumer preference for eco-friendly products, driving up production costs but also opening premium markets.
2021-2023
Nearshoring in textile supply chains
Countries like Vietnam and Bangladesh benefit from manufacturers moving closer to consumer markets in Europe and North America to reduce lead times and shipping costs.
2022-2023
Digitalization of trade and production
Adoption of technologies like blockchain for supply chain transparency and AI for demand forecasting is improving efficiency and reducing waste in the textile sector.
2020-2023
The European Union introduced a strategy for sustainable and circular textiles, mandating stricter environmental standards and extended producer responsibility for textile waste.
March 2022
Exporters to the EU must adapt to new compliance requirements, potentially increasing costs but also favoring sustainable producers.
The US enforced the Uyghur Forced Labor Prevention Act, banning imports of cotton and related products from China's Xinjiang region due to forced labor concerns.
June 2022
Significant disruption for global supply chains, pushing buyers to source from alternative regions like India and Brazil, affecting pricing and availability.
India launched a PLI scheme for textiles, focusing on man-made fibers and technical textiles, to boost domestic production and exports.
September 2021
Increased competitiveness of Indian textile exports, potentially shifting market share from competitors like China.