Clothing accessories: knitted or crocheted, n.e.s. in heading no. 6117

In 2024, clothing accessories: knitted or crocheted, n.e.s. in heading no. 6117 trade exhibited slight decline, with global flows reaching $1,110,948,332 and a three-year compound annual growth rate of +2.1% (five-year: +5.3%). The all-time peak of $1,184,992,928 was recorded in 2022; the current level is 6% below that high-water mark.

Over the 30-year observation window (1995–2024), 69% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is steady (-2.2% acceleration).

The World Trade Flows Characterization classifies clothing accessories: knitted or crocheted, n.e.s. in heading no. 6117 as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.391). The three largest exporters — China ($689.0M), Spain ($38.9M), and Italy ($34.6M) — collectively dominate supply flows. The leading exporter has grown at +5.4% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.053). The three largest import markets are United States ($206.7M), Japan ($75.8M), and Germany ($61.7M). The largest importing market sources from 90 different supplying countries.

Estimated substitution elasticity: -3.35. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is China → United States at $129.4M, representing 62.6% of the importer's total demand.

The volatility score for clothing accessories: knitted or crocheted, n.e.s. in heading no. 6117 is 3 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. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

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