HS Code:
The 'Compact, exceeding 41 nm (301)' category, typically associated with specific types of machinery or equipment under the Harmonized System (HS) Code (exact code to be specified by user), refers to compact products or components exceeding 41 nanometers in certain dimensions or specifications, often used in precision industries such as electronics, semiconductors, or nanotechnology. This category plays a critical role in high-tech manufacturing and innovation-driven sectors globally.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.3%
Highest Rate
12.0% (imposed by certain developing economies)
Lowest Rate
0.0% (under free trade agreements such as USMCA and EU-Japan EPA)
Rising demand for nanotechnology components
Increased trade volume due to growth in semiconductor and electronics industries, particularly in Asia-Pacific and North America
2021-2022
Shift towards sustainable manufacturing
Manufacturers adopting eco-friendly production methods, influencing supply chains and trade policies
2020-2022
Supply chain disruptions
Global shortages of critical components due to geopolitical tensions and pandemic-related delays
2020-2021
A new phase of negotiations reduced tariffs on high-tech components, including those in the 'Compact, exceeding 41 nm' category, fostering bilateral trade.
March 2023
Expected to increase trade volume by 10-15% between the two nations over the next two years.
The European Union introduced stricter compliance requirements for nanotechnology products to ensure safety and environmental protection.
January 2023
May lead to short-term trade slowdowns as exporters adapt to new standards, with potential cost increases.
South Korea announced a USD 450 million investment to boost domestic production of nanotechnology components, aiming to reduce reliance on imports.
June 2022
Likely to shift trade patterns, with South Korea emerging as a key exporter in this category by 2025.