HS Code:
The 'Of textile materials' category (HS Code: 63) encompasses a wide range of products made from textiles, including made-up textile articles such as bed linens, tablecloths, curtains, and other household textiles, as well as sacks, bags, and other similar articles. This category is critical to global trade due to its widespread use in households, industries, and commercial sectors. It reflects both consumer demand for household goods and industrial needs for packaging and protective materials. The trade in this category is influenced by factors such as raw material availability, labor costs, and changing consumer preferences for sustainable and eco-friendly products.
Total Trade Volume
USD 40.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 15.8 billion
39.3% of total trade
Increasing
USD 5.6 billion
13.9% of total trade
Increasing
USD 3.2 billion
8.0% of total trade
Increasing
USD 2.9 billion
7.2% of total trade
Increasing
USD 2.1 billion
5.2% of total trade
Stable
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-India FTA or within ASEAN)
Rising demand for sustainable textiles
Increased production of organic and recycled textile materials, pushing manufacturers to adopt greener practices to meet consumer and regulatory demands.
2021-2022
Shift to e-commerce platforms
Boosted global trade by making it easier for small and medium enterprises to reach international markets, especially in household textile segments.
2020-2022
Automation in textile manufacturing
Reduced production costs and increased output in major exporting countries, enhancing competitiveness but impacting labor-intensive economies.
2019-2022
The European Union introduced stricter regulations under the Green Deal, mandating sustainability certifications for imported textile products to reduce environmental impact.
March 2023
Increased compliance costs for exporters, particularly from developing countries, but also opened opportunities for eco-friendly producers.
A new phase of the US-China trade agreement reduced tariffs on certain textile categories, aiming to balance trade deficits and improve market access.
January 2023
Boosted Chinese textile exports to the US, potentially affecting competitors like India and Vietnam.
Bangladesh announced investments in textile manufacturing infrastructure to increase export capacity, supported by government incentives and foreign direct investment.
June 2022
Strengthened Bangladeshโs position as a key player in the global textile market, likely increasing competition for other exporters.