HS Code:
The category of 'Assemblies and subassemblies, consisting of 2 or more parts or pieces fastened or joined together' typically falls under various HS Codes depending on the specific product type and industry (e.g., machinery, vehicles, or electronics under HS Chapters 84, 85, or 87). This category encompasses a wide range of intermediate goods used in manufacturing processes, including components for automotive, aerospace, industrial machinery, and consumer electronics. These products are critical in global supply chains, often traded between countries for final assembly. Trade in this category is influenced by factors such as industrial production levels, technological advancements, and regional manufacturing hubs.
Total Trade Volume
USD 1.2 trillion
Data from 2022
Source
United Nations Comtrade Database
USD 300 billion
25% of total trade of total trade
Increasing
USD 180 billion
15% of total trade of total trade
Stable
USD 150 billion
12.5% of total trade of total trade
Increasing
USD 120 billion
10% of total trade of total trade
Stable
USD 90 billion
7.5% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
15% (imposed by certain developing countries on specific subassemblies)
Lowest Rate
0% (under free trade agreements like USMCA or EU Single Market)
Shift towards regional supply chains
Increased trade within regions like ASEAN and EU due to geopolitical tensions and supply chain resilience strategies, reducing dependency on single-country sourcing.
2021-2023
Rise in automation and smart manufacturing
Growing demand for high-precision assemblies and subassemblies in robotics and IoT devices, driving trade in specialized components.
2020-2022
Sustainability and circular economy policies
Increased focus on recyclable and modular assemblies, influencing trade patterns as manufacturers adapt to environmental regulations.
2022-2023
Ongoing trade disputes have led to additional tariffs on certain assemblies and subassemblies, prompting manufacturers to relocate production to Southeast Asia.
Mid-2022
Diversification of supply chains, with countries like Vietnam and Thailand seeing a rise in trade volume for assemblies.
New EU policies under the Green Deal impose stricter environmental standards on imported assemblies, requiring compliance with sustainability criteria.
January 2023
Potential increase in production costs for non-EU exporters, reshaping trade flows towards compliant suppliers.
Improved supply of semiconductors has boosted trade in electronic subassemblies, particularly for automotive and consumer electronics sectors.
Late 2022
Significant recovery in trade volumes for countries like South Korea and Taiwan, key players in electronic components.