HS Code:
Colloidal precious metals (HS Code: 2843) refer to compounds and preparations of precious metals such as gold, silver, platinum, and palladium in a colloidal or suspension form. These materials are often used in industrial applications, including electronics, catalysis, medical treatments, and nanotechnology due to their unique chemical and physical properties. The global trade of colloidal precious metals is driven by demand in high-tech industries and innovations in material sciences.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Stable
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% 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 such as EU-US trade pacts)
Rising demand in nanotechnology applications
Increased trade volume as colloidal precious metals are critical in developing nanomaterials for electronics and medical devices
2021-2022
Shift towards sustainable sourcing
Growing preference for ethically sourced and recycled precious metals, influencing trade patterns and pricing
2020-2022
Technological advancements in catalysis
Higher demand from chemical industries for colloidal metals as catalysts, boosting exports from technologically advanced nations
2019-2022
A new bilateral agreement reduced tariffs on colloidal precious metals, facilitating smoother trade between the two largest economies.
March 2023
Expected to increase trade volume by 10-15% between the US and China over the next two years.
The European Union introduced stricter regulations on the production and import of colloidal precious metals to reduce environmental impact.
January 2023
Potential increase in production costs and trade barriers for non-compliant exporters.
New research highlighted the use of colloidal gold in cancer treatment, driving demand in the healthcare sector.
October 2022
Significant growth in trade volume expected as medical industries ramp up procurement.