HS Code:
The 'Of synthetic fibers' category (HS Code: 669) includes a wide range of products made from synthetic fibers such as polyester, nylon, acrylic, and other man-made fibers. These products encompass textiles, fabrics, yarns, and other materials used in industries like apparel, home furnishings, and industrial applications. Synthetic fibers are valued for their durability, versatility, and cost-effectiveness compared to natural fibers, driving their widespread use globally.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
25% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USA or within ASEAN)
Increased demand for sustainable synthetic fibers
Growing consumer preference for eco-friendly and recycled synthetic materials is pushing manufacturers to adopt greener production methods, impacting supply chains and pricing.
2021-2022
Shift in production to Asia-Pacific
Lower labor and production costs in countries like China and India have led to a significant shift in manufacturing, increasing export volumes from the region.
2018-2022
Technological advancements in fiber production
Innovations such as high-performance synthetic fibers for industrial use are creating new market segments and increasing trade in specialized products.
2020-2022
The European Union introduced anti-dumping tariffs of up to 18% on synthetic fiber imports from China to protect domestic manufacturers.
March 2023
This is expected to reduce Chinese exports to the EU while potentially increasing market opportunities for other exporters like India and South Korea.
The United States-Mexico-Canada Agreement (USMCA) introduced stricter rules of origin for synthetic fiber products, requiring more regional content.
January 2023
This may reduce imports from non-USMCA countries and encourage local production within North America.
Major apparel brands and governments are setting targets for using recycled synthetic fibers to meet sustainability goals, influencing trade patterns.
June 2023
Countries investing in recycling technologies, such as Japan and Germany, are likely to see increased exports of sustainable synthetic fiber products.