HS Code:
The category 'Articles of metal (including medals, trophies, and prizes), bestowed upon individuals abroad as honorary distinctions by foreign countries or citizens of foreign countries' falls under a specific classification in the Harmonized System (HS) Code, often related to HS Chapter 83 (Miscellaneous articles of base metal) or specific subheadings for medals and trophies. This niche category includes items like commemorative medals, awards, and trophies made of base or precious metals, conferred as symbols of honor or recognition. These items are typically not traded in large commercial volumes but hold significant cultural, diplomatic, and symbolic value. Trade in this category often occurs through governmental or institutional channels rather than traditional commercial markets, and the data may be sparse due to the unique nature of these transactions.
Total Trade Volume
Limited data available; estimated at less than $10 million USD globally due to the specialized and non-commercial nature of these items.
Data from 2023
Source
Estimated data based on UN Comtrade, WTO reports, and industry insights for related metal articles under HS Chapter 83.
Approx. $2 million USD
20% of estimated global trade of total trade
Stable
Approx. $1.5 million USD
15% of estimated global trade of total trade
Stable
Approx. $1.2 million USD
12% of estimated global trade of total trade
Increasing
Approx. $1 million USD
10% of estimated global trade of total trade
Stable
Approx. $0.8 million USD
8% of estimated global trade of total trade
Increasing
Average Rate
3-5% ad valorem for most countries under HS Chapter 83
Highest Rate
Up to 10% in certain developing countries with protective policies on metal goods
Lowest Rate
0% in countries with free trade agreements or for diplomatic consignments
Increased demand for custom-designed medals and trophies
Growth in specialized manufacturing for international awards and recognitions, especially in Europe and Asia
2022
Rise in diplomatic exchanges post-COVID-19
Slight uptick in cross-border conferment of honorary distinctions as international relations strengthen
2023
Sustainability concerns in metal production
Pressure to use recycled metals or eco-friendly production methods for trophies and medals
2021-2023
The World Trade Organization issued updated guidelines on the classification and tariff exemptions for cultural and diplomatic goods, including honorary distinctions.
June 2023
Facilitates smoother trade and reduced tariffs for such items under diplomatic channels.
The European Union introduced stricter certification requirements for imported articles containing precious metals, affecting medals and trophies.
January 2023
Potential delays in customs clearance for non-compliant items, though exemptions apply for diplomatic goods.
Increased conferment of international honors during global summits and cultural exchanges post-pandemic.
Mid-2023
Minor increase in trade volume for bespoke metal articles in key countries like France and Japan.