HS Code:
The category of Automatic Goods-Vending Machines (HS Code: 8476) includes machines designed for the automatic dispensing of goods such as postage stamps, cigarettes, food, beverages, and other items, as well as money-changing machines. This category also covers parts and accessories specific to these machines. These products are integral to retail and service industries, providing convenience and efficiency in various public and private settings worldwide.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 600 million
24% of total trade of total trade
Increasing
USD 450 million
18% of total trade of total trade
Stable
USD 300 million
12% of total trade of total trade
Increasing
USD 250 million
10% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU Single Market)
Rise in contactless payment integration
Increased demand for vending machines with digital payment options, boosting market growth in urban areas
2021-2023
Growth in smart vending machines
Adoption of IoT-enabled machines for inventory tracking and consumer behavior analysis, driving innovation
2020-2022
Expansion in emerging markets
Higher demand in Asia-Pacific and Latin America due to urbanization and retail modernization
2019-2023
The European Union introduced stricter energy consumption standards for vending machines to align with sustainability goals.
January 2023
Manufacturers are compelled to innovate energy-efficient designs, potentially increasing production costs but improving long-term market competitiveness.
A new trade agreement reduced tariffs on vending machine parts between the US and China, facilitating smoother supply chains.
March 2022
Lower costs for manufacturers in both countries, potentially increasing trade volume by 5-10% in the near term.
Japan launched a government-backed program to replace outdated vending machines with smart, connected units across the country.
September 2022
Significant boost in domestic production and export potential as Japanese manufacturers lead in smart vending technology.