HS Code:
The category under HS Code 6115.95.60 pertains to socks and other hosiery products made of cotton, knitted or crocheted, excluding those specifically for infants. This subheading covers a wide range of socks including ankle socks, knee-highs, and other similar products primarily used for everyday wear, sports, and fashion. These products are a staple in the global apparel market due to their essential nature and frequent replacement cycle.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.2 billion
48% of total trade of total trade
Increasing
USD 350 million
14% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
USD 150 million
6% of total trade of total trade
Stable
USD 100 million
4% of total trade of total trade
Decreasing
Average Rate
10.5%
Highest Rate
25% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU trade deals)
Rising demand for sustainable and organic cotton socks
Increased production costs but higher market value and consumer preference in Western markets
2021-2022
Growth in e-commerce sales channels
Expanded market reach for manufacturers, especially in Asia, with direct-to-consumer models
2020-2022
Shift towards athleisure and performance socks
Boost in demand for specialized socks with moisture-wicking and compression features
2019-2022
The US extended Section 301 tariffs on Chinese hosiery products, including socks, citing unfair trade practices.
May 2022
Increased costs for US importers, potential shift of sourcing to Vietnam and Bangladesh
New EU regulations require hosiery products to meet stricter sustainability and recycling standards starting in 2023.
January 2023
Manufacturers must invest in sustainable practices, potentially raising prices but improving brand image in eco-conscious markets
The EU-Vietnam Free Trade Agreement (EVFTA) reduced tariffs on Vietnamese hosiery exports to the EU to 0% over a phased period.
August 2020 (fully implemented by 2023)
Boosted Vietnamโs competitiveness in the EU market, challenging Chinaโs dominance