HS Code:
The category 'Of textile material or of base metal, whether or not gold- or silver-plated' typically falls under various HS Codes depending on the specific product, such as jewelry, accessories, or other articles (e.g., HS Code 7117 for imitation jewelry or related subcategories under Chapters 71 and 62-63 for textile-based accessories). This category includes products like costume jewelry, decorative items, and accessories made from base metals or textiles, often plated with gold or silver for aesthetic appeal. These goods are widely used in fashion, personal adornment, and gifting, catering to both mass-market and niche luxury segments. Global trade in this category is driven by consumer demand for affordable fashion and cultural preferences for specific designs.
Total Trade Volume
Approximately $15.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$5.8 billion USD
38.2% of total trade of total trade
Increasing
$2.1 billion USD
13.8% of total trade of total trade
Increasing
$1.9 billion USD
12.5% of total trade of total trade
Stable
$1.3 billion USD
8.6% of total trade of total trade
Stable
$0.9 billion USD
5.9% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
35% (in certain protective markets like India for luxury imitation jewelry)
Lowest Rate
0% (under free trade agreements or in duty-free zones like the EU for specific partners)
Rising demand for sustainable and eco-friendly materials
Shift towards recycled metals and organic textiles in production, influencing sourcing and pricing strategies
2021-2023
Growth in e-commerce platforms for fashion accessories
Increased market access for small-scale producers and exporters, boosting trade volumes from developing countries
2020-2023
Customization and personalization in jewelry design
Higher demand for unique, made-to-order products, leading to growth in niche markets and higher profit margins
2022-2023
The European Union introduced stricter regulations on the use of harmful substances like lead and cadmium in imitation jewelry and accessories to ensure consumer safety.
June 2023
Exporters to the EU must adapt to compliance requirements, potentially increasing production costs but ensuring market access.
A new phase of trade negotiations between the US and China has reduced tariffs on certain base metal jewelry products, easing tensions in the sector.
March 2023
Expected to boost Chinese exports to the US, potentially increasing competition for other exporters like India and Thailand.
The Indian government launched incentives under the 'Make in India' initiative to promote exports of handmade textile and metal jewelry, including tax rebates and subsidies.
January 2023
Likely to increase Indiaโs share in global trade, especially in markets valuing artisanal products.