HS Code:
The category of woven fabrics of combed wool or of combed fine animal hair (HS Code: 5112) includes high-quality textiles made from combed wool or fine animal hair such as cashmere, mohair, or alpaca. These fabrics are known for their softness, durability, and warmth, making them popular in premium apparel and luxury fashion industries. This category covers a range of woven products, including those mixed with other fibers, and is widely used in suits, coats, and other formal or cold-weather garments. Global trade in this category is influenced by factors such as raw material availability, production expertise, and demand for luxury goods.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for sustainable and ethically sourced wool fabrics
Increased production costs but higher consumer willingness to pay for eco-friendly products
2021-2023
Shift toward luxury and bespoke fashion
Boost in demand for high-quality combed wool fabrics in premium markets
2020-2022
Technological advancements in textile manufacturing
Improved quality and reduced production time, benefiting large-scale exporters like China
2019-2023
The European Union introduced new regulations requiring detailed documentation of wool sourcing to ensure ethical practices and environmental sustainability.
June 2023
Increased compliance costs for exporters but improved market access for certified producers
Italy and China signed a bilateral agreement to reduce tariffs on woven wool fabrics, aiming to boost trade between the two nations.
March 2023
Expected to increase Chinese imports of Italian wool fabrics by 10% in 2024
The UK revised its tariff structure for wool fabrics, introducing temporary reductions to support its fashion industry amidst post-Brexit trade challenges.
January 2023
Temporary boost in imports from non-EU countries, affecting EU exporters negatively