Garments: of man-made fibres, knitted or crocheted, n.e.c. in chapter 61

In 2024, garments: of man-made fibres, knitted or crocheted, n.e.c. in chapter 61 trade exhibited slight decline, with global flows reaching $4,542,371,215 and a three-year compound annual growth rate of +2.5% (five-year: +4.6%). The all-time peak of $4,960,889,382 was recorded in 2022; the current level is 8% below that high-water mark.

Over the 30-year observation window (1995–2024), 83% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is steady (-1.3% acceleration).

The World Trade Flows Characterization classifies garments: of man-made fibres, knitted or crocheted, n.e.c. in chapter 61 as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.204). The three largest exporters — China ($1.9B), Vietnam ($396.5M), and Türkiye ($245.9M) — collectively dominate supply flows. The leading exporter has grown at +7.1% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.107). The three largest import markets are United States ($1.3B), Germany ($392.7M), and Spain ($256.8M). The largest importing market sources from 100 different supplying countries.

Estimated substitution elasticity: -4.87. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is China → United States at $735.3M, representing 55.6% of the importer's total demand.

The volatility score for garments: of man-made fibres, knitted or crocheted, n.e.c. in chapter 61 is 4 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.