HS Code:
The category 'Trousers, breeches and shorts imported as parts of suits' under HS Code 620348 (or related subcategories depending on specific classification) pertains to men's or boys' trousers, breeches, and shorts that are specifically imported as components of suits, typically made of synthetic fibers or other materials. These items are distinct from standalone apparel as they are often matched with jackets or other suit components for formal or business wear. This category is significant in global trade due to the demand for affordable, mass-produced formal wear in both developed and emerging markets. Trade in this category is influenced by factors such as labor costs, textile production capabilities, and trade agreements that impact tariffs and quotas.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$600 million USD
24% of total trade of total trade
Increasing
$500 million USD
20% of total trade of total trade
Increasing
$400 million USD
16% of total trade of total trade
Stable
$300 million USD
12% of total trade of total trade
Increasing
$200 million USD
8% of total trade of total trade
Stable
Average Rate
12% ad valorem
Highest Rate
32% (imposed by certain protective markets like the United States on non-preferential trade partners)
Lowest Rate
0% (under free trade agreements such as EU-Vietnam FTA or USMCA)
Shift to sustainable materials
Increasing demand for trousers and suit components made from recycled or organic fibers, driven by consumer awareness and regulatory pressures in markets like the EU.
2021-2023
Rise of fast fashion and e-commerce
Growth in online retail platforms has boosted imports of affordable suit components, especially from low-cost manufacturing hubs like Bangladesh and Vietnam.
2020-2022
Regional trade agreements boosting exports
Agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have reduced tariffs, benefiting exporters like Vietnam.
2019-2023
The European Union introduced new regulations under the EU Green Deal, mandating stricter sustainability and traceability standards for textile imports, including suit components.
March 2023
Exporters from developing countries may face higher compliance costs, potentially reducing competitiveness unless supported by capacity-building programs.
A partial rollback of additional tariffs on Chinese textile imports by the United States has led to a stabilization of trade volumes for suit components from China.
January 2023
Chinese exporters regain some market share in the US, though diversification to other countries like Vietnam continues.
Bangladesh announced investments in textile manufacturing infrastructure, supported by government incentives, to increase production of formal wear components.
June 2022
Strengthens Bangladeshโs position as the leading exporter in this category, potentially pressuring competitors on pricing.