HS Code:
Corduroy (HS Code: 5801.31 - Woven pile fabrics and chenille fabrics, of cotton, specifically corduroy) is a durable, textured fabric characterized by its distinct parallel ridges or 'cords.' It is widely used in the apparel industry for manufacturing pants, jackets, and shirts, as well as in upholstery and home decor. Corduroyโs popularity stems from its warmth, durability, and unique aesthetic, making it a staple in casual and vintage fashion. The global trade of corduroy is influenced by cotton production, textile manufacturing capabilities, and seasonal fashion trends.
Total Trade Volume
Approximately USD 250 million
Data from 2022
Source
UN Comtrade Database and International Trade Centre (ITC)
USD 90 million
36% of total trade of total trade
Increasing
USD 40 million
16% of total trade of total trade
Increasing
USD 30 million
12% of total trade of total trade
Stable
USD 25 million
10% of total trade of total trade
Increasing
USD 20 million
8% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic textile industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or within ASEAN)
Resurgence of retro fashion
Increased demand for corduroy in apparel, particularly in North America and Europe, as 70s and 90s styles return to mainstream fashion.
2021-2023
Sustainable textile production
Growing preference for organic cotton corduroy and eco-friendly dyeing methods, influencing sourcing decisions and production costs.
2020-2023
Shift to Asian manufacturing hubs
Lower production costs in countries like Bangladesh and Vietnam are driving export growth, challenging traditional exporters like the US and EU.
2019-2023
The European Union introduced new sustainability and labor standards for textile imports, including corduroy, requiring exporters to comply with environmental and ethical guidelines.
June 2023
Potential increase in production costs for non-compliant exporters, particularly in Asia, but may benefit sustainable producers with a competitive edge.
A revised trade agreement reduced tariffs on certain textile categories, including corduroy, from China to the US, fostering increased imports.
March 2023
Boosted Chinese corduroy exports to the US, potentially affecting domestic producers and other exporting countries like Bangladesh.
Bangladesh announced investments in textile manufacturing infrastructure, focusing on high-quality corduroy production to meet global demand.
January 2023
Likely to increase Bangladeshโs share in the global corduroy market, intensifying competition with China and India.