HS Code:
The 'Of viscose rayon' category under HS Code 606 pertains to textile products made from viscose rayon, a semi-synthetic fiber derived from wood pulp. This category includes woven fabrics, apparel, and other textile articles predominantly composed of viscose rayon. Viscose rayon is valued for its silk-like texture, breathability, and versatility, making it a popular choice in fashion and home textiles. The global trade of viscose rayon products is influenced by factors such as raw material availability, manufacturing costs, and consumer demand for sustainable and affordable textiles.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 4.8 billion
38.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Increasing
USD 1.5 billion
12.0% of total trade of total trade
Stable
USD 1.2 billion
9.6% of total trade of total trade
Increasing
USD 0.9 billion
7.2% of total trade of total trade
Stable
Average Rate
8.5%
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Rising demand for sustainable textiles
Increased production of eco-friendly viscose rayon from certified sustainable sources, boosting trade in regions with strict environmental regulations like the EU.
2021-2022
Shift in production to low-cost countries
Countries like Bangladesh and Vietnam are becoming major exporters due to lower labor costs and favorable trade agreements, impacting traditional exporters like Italy.
2020-2022
Technological advancements in viscose production
Innovations in closed-loop production systems are reducing environmental impact, attracting investment and increasing trade volumes in sustainable markets.
2022
The European Union introduced new regulations requiring viscose rayon products to meet specific environmental and ethical production standards, including traceability of raw materials.
March 2023
This has increased compliance costs for exporters but also opened opportunities for certified sustainable producers, particularly from India and China.
A revised trade agreement between the US and China reduced tariffs on certain textile categories, including viscose rayon products, to promote bilateral trade.
January 2023
This has led to a surge in Chinese exports to the US, potentially affecting market shares of other exporters like Bangladesh and Vietnam.
Major textile companies have announced investments in new viscose rayon production facilities in Vietnam and Indonesia to capitalize on low production costs and proximity to key markets.
June 2023
This is expected to further shift trade patterns, increasing the export share of Southeast Asian countries in the coming years.