HS Code:
The Suits category (HS Code: 6203 for men's or boys' suits and 6204 for women's or girls' suits) includes tailored clothing such as suits, ensembles, jackets, blazers, trousers, and skirts made from various materials like wool, cotton, and synthetic fibers. This category is a significant segment of the global apparel industry, catering to both formal and business wear markets. Trade in this category is influenced by fashion trends, labor costs, raw material availability, and trade agreements.
Total Trade Volume
USD 14.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
12.5%
Highest Rate
35% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-UK Trade and Cooperation Agreement)
Shift towards sustainable fabrics
Increased demand for suits made from organic cotton and recycled materials, pushing manufacturers to adopt eco-friendly practices.
2021-2022
Rise of casual business wear
Decline in demand for traditional formal suits due to remote working trends, with growth in hybrid or smart-casual clothing.
2020-2022
Growth in e-commerce sales
Significant increase in online purchases of suits, influencing exporters to focus on direct-to-consumer models and digital marketing.
2019-2022
The EVFTA, implemented in 2020, has reduced tariffs on Vietnamese apparel exports to the EU, boosting Vietnam's suit exports significantly.
August 2020
Increased market share for Vietnam in the EU, challenging traditional exporters like China and Italy.
Ongoing trade disputes have led to higher tariffs on Chinese apparel, including suits, entering the US market, prompting buyers to source from alternative countries.
Mid-2019 onwards
Diversification of supply chains, benefiting countries like Bangladesh and Vietnam.
New EU regulations mandate stricter sustainability and transparency standards for apparel, including suits, affecting exporters who must comply with environmental criteria.
January 2023
Increased production costs for non-compliant manufacturers, while favoring those with sustainable practices.