HS Code:
Binoculars, classified under HS Code 9005.10, are optical instruments used for magnifying distant objects by providing a stereoscopic view through two lenses. This category includes field glasses, opera glasses, and other similar devices primarily used for outdoor activities, surveillance, and leisure purposes such as bird watching and sports events. The global trade of binoculars is driven by demand in sectors like tourism, military, and recreational activities, with significant production centered in countries with advanced optical technology.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for compact and lightweight binoculars
Increased focus on portable designs for outdoor enthusiasts and travelers has driven innovation in product development.
2021-2022
Integration of digital and smart features
Binoculars with built-in cameras and connectivity features are gaining traction, particularly in military and surveillance applications.
2020-2022
Growing interest in eco-tourism and wildlife observation
Boost in demand for high-quality binoculars in regions with strong tourism sectors, particularly in Africa and Latin America.
2019-2022
The EU and Japan have further reduced tariffs on optical goods, including binoculars, under the Economic Partnership Agreement, fostering increased trade.
January 2023
Expected to boost Japanese exports to Europe by 10-15% over the next two years.
Leading manufacturers have introduced binoculars with augmented reality features, targeting both recreational and professional markets.
September 2022
Likely to shift consumer preference toward high-end products, increasing average product price.
Ongoing geopolitical issues have impacted the supply of critical optical components, particularly from East Asia, leading to temporary shortages.
March 2022
Short-term price increases and delays in delivery for end consumers and retailers.