HS Code:
Safety pins, classified under HS Code 7319.40, are small metal fasteners commonly used in clothing, crafts, and emergency repairs. They consist of a looped wire with a pointed end that can be secured within a protective cap to prevent injury. The global trade of safety pins is a niche but steady market, driven by demand in the textile, fashion, and household goods sectors. These products are typically manufactured in countries with low production costs due to their simple design and high volume requirements.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
United Nations Comtrade Database
$20 million USD
40% of total trade of total trade
Increasing
$10 million USD
20% of total trade of total trade
Increasing
$5 million USD
10% of total trade of total trade
Stable
$4 million USD
8% of total trade of total trade
Stable
$3 million USD
6% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Shift towards sustainable materials
Increasing demand for eco-friendly safety pins made from recycled metals or biodegradable coatings, driven by consumer awareness and regulatory pressures.
2021-2023
Growth in e-commerce sales channels
Online retail platforms have boosted accessibility and sales of safety pins, particularly for small businesses and DIY craft markets.
2020-2022
Rising production costs
Fluctuations in raw material prices, especially steel, have led to higher production costs, impacting profit margins for manufacturers in low-cost regions.
2022-2023
The European Union introduced new regulations on metal products, including safety pins, to limit nickel content due to allergy concerns.
March 2023
Manufacturers exporting to the EU must adapt production processes, potentially increasing costs but ensuring market access.
Ongoing trade disputes have led to additional tariffs on Chinese-made safety pins entering the US market, prompting some importers to source from alternative countries like India.
January 2022
Diversification of supply chains and potential price increases for US consumers.
Under the 'Make in India' initiative, the Indian government has provided subsidies to local safety pin manufacturers to reduce reliance on imports.
September 2022
Increased export competitiveness for Indian manufacturers and reduced import dependency.