HS Code:
The Sweaters category, classified under HS Code 6110, includes knitted or crocheted sweaters, pullovers, cardigans, waistcoats, and similar articles. This category is a significant segment of the global apparel market, driven by seasonal demand, fashion trends, and the increasing preference for sustainable and ethically produced clothing. Sweaters are produced and traded worldwide, with a mix of high-end fashion brands and mass-market manufacturers contributing to the trade volume.
Total Trade Volume
USD 25.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 9.8 billion
38.3% of total trade of total trade
Increasing
USD 3.2 billion
12.5% of total trade of total trade
Increasing
USD 2.5 billion
9.8% of total trade of total trade
Increasing
USD 1.8 billion
7.0% of total trade of total trade
Stable
USD 1.5 billion
5.9% of total trade of total trade
Increasing
Average Rate
12.5%
Highest Rate
32% (imposed by certain developing countries on imports)
Lowest Rate
0% (under free trade agreements like EU-UK Trade Deal or USMCA)
Rise in Sustainable Fashion
Increased demand for organic cotton and recycled material sweaters, pushing manufacturers to adopt eco-friendly practices.
2021-2023
Growth of Fast Fashion
Mass production in countries like Bangladesh and Vietnam has led to lower prices but raised concerns over labor conditions.
2019-2022
E-commerce Boom
Online retail platforms have boosted sweater exports by connecting manufacturers directly with global consumers.
2020-2023
The European Union introduced new regulations requiring detailed sustainability reporting for apparel, including sweaters, to combat greenwashing.
June 2023
Manufacturers exporting to the EU must invest in compliance, potentially increasing production costs but enhancing market trust.
A temporary reduction in tariffs on Chinese apparel exports, including sweaters, was agreed upon as part of broader trade negotiations.
March 2023
Chinese sweater exports to the US are expected to rise by 5-10% in the short term, benefiting US retailers with lower costs.
Bangladesh invested in new textile factories to meet growing global demand for affordable sweaters.
January 2023
Increased competition for other low-cost producers like Vietnam, potentially driving down global prices.