HS Code:
The category 'Containing 85 percent or more by weight of silk or silk waste' (HS Code: 5007) pertains to woven fabrics made predominantly of silk or silk waste. This includes various types of silk textiles such as crepe, georgette, and satin, which are used in high-end fashion, home decor, and other luxury products. Silk, known for its luster, strength, and softness, is a natural fiber primarily produced by silkworms, and this category represents a niche but significant segment of the global textile market, often associated with luxury and premium pricing.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect domestic textile industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for sustainable and eco-friendly silk
Increased interest in organic and cruelty-free silk (Ahimsa silk) is driving market shifts, with higher demand in Europe and North America.
2021-2022
Rise of e-commerce in silk trade
Online platforms have expanded market access for small-scale silk producers in countries like India, boosting exports.
2020-2022
Fluctuating raw silk prices
Volatility in raw silk prices due to supply chain disruptions and climate impacts on sericulture has affected production costs and export competitiveness.
2022
China has increased its silk fabric exports by 10% in 2022, driven by innovations in silk blending and competitive pricing strategies.
March 2023
Strengthens China's dominance in the global silk market, putting pressure on other exporters like India and Italy.
The European Union introduced stricter sustainability and ethical sourcing regulations for silk imports, requiring detailed supply chain transparency.
January 2023
May increase compliance costs for exporters but also opens opportunities for producers of organic and sustainable silk.
India revised its National Silk Policy to provide subsidies for sericulture farmers and promote value-added silk products for export.
August 2022
Expected to boost India's silk export volume by 15% over the next five years, enhancing its global market share.