HS Code:
The 'Knitted or crocheted or made up from knitted or crocheted fabric' category, falling under HS Code 61, encompasses a wide range of apparel and clothing accessories made from knitted or crocheted materials. This includes items such as sweaters, pullovers, cardigans, T-shirts, dresses, and socks. These products are significant in the global textile and apparel industry due to their versatility, comfort, and widespread consumer demand across various demographics and climates.
Total Trade Volume
USD 92.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
12.5%
Highest Rate
35% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or within ASEAN)
Shift towards sustainable materials
Increased demand for organic cotton and recycled polyester in knitted apparel, pushing manufacturers to adopt eco-friendly practices.
2021-2022
Rise of fast fashion
Growing exports from low-cost manufacturing hubs like Bangladesh and Vietnam due to demand for affordable, trendy knitted clothing.
2020-2022
Automation in production
Adoption of advanced knitting technologies in countries like China and Italy, reducing labor costs and improving production efficiency.
2019-2022
The European Union introduced stricter regulations on textile imports, mandating detailed reporting on the environmental impact of knitted apparel production.
March 2023
Exporters to the EU, especially from Asia, may face higher compliance costs, potentially shifting trade patterns towards more sustainable producers.
A revised trade agreement reduced tariffs on knitted apparel from China to the US, providing relief to exporters after years of high duties.
January 2023
Likely to boost Chinese exports to the US market, increasing competition for other suppliers like Bangladesh and Vietnam.
Bangladesh announced investments in new knitting facilities and worker training programs to meet growing global demand.
June 2022
Strengthens Bangladesh's position as a leading exporter, potentially capturing more market share from competitors.