HS Code:
The Sweaters category (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 casual and comfortable clothing. Materials used range from wool and cotton to synthetic fibers, catering to diverse consumer preferences across different climates and price points.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 9.8 billion
38.7% of total trade
Increasing
USD 3.5 billion
13.8% of total trade
Increasing
USD 2.1 billion
8.3% of total trade
Increasing
USD 1.9 billion
7.5% of total trade
Stable
USD 1.4 billion
5.5% of total trade
Increasing
Average Rate
12.5%
Highest Rate
35% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Shift towards sustainable materials
Increased demand for organic cotton and recycled fibers due to consumer awareness of environmental impact, pushing manufacturers to adopt eco-friendly practices.
2021-2023
Rise of fast fashion
Accelerated production cycles and lower price points, particularly from Asian exporters, leading to higher trade volumes but thinner profit margins.
2019-2022
Growth in e-commerce
Direct-to-consumer sales channels have boosted exports, especially for small and medium enterprises in developing countries.
2020-2023
The European Union introduced stricter sustainability regulations under the Green Deal, requiring exporters to comply with environmental standards for textile production.
March 2023
Increased production costs for non-compliant exporters, particularly in Asia, but opportunities for those adopting sustainable practices.
Ongoing trade disputes have led to additional tariffs on Chinese sweater exports to the US, prompting diversification of supply chains to countries like Vietnam and Bangladesh.
January 2022
Shift in market share away from China, benefiting other exporting nations.
Bangladesh surpassed expectations with a 15% increase in sweater exports, driven by competitive pricing and improved manufacturing capacity.
October 2022
Strengthened position as a key player in the global market, challenging Chinaโs dominance.