HS Code:
The 'Covered and Closed' category under the Harmonized System (HS) Code typically refers to specific types of containers, boxes, or cases that are designed to be covered or closed, often used for storage, transport, or protection of goods. This category may include items such as covered crates, closed barrels, or sealed containers made from materials like wood, plastic, or metal, depending on the specific HS code sub-category. These products are essential in industries like logistics, shipping, and retail for ensuring the safety and integrity of goods during transportation and storage. Global trade in this category is influenced by industrial demand, manufacturing capabilities, and international shipping needs.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.0 billion
8.0% of total trade of total trade
Stable
USD 0.8 billion
6.4% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12.5% (applied by certain developing countries to protect local manufacturing)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift towards sustainable materials
Increased demand for eco-friendly covered containers made from recyclable or biodegradable materials due to global environmental regulations.
2021-2022
Growth in e-commerce logistics
Rising need for durable and secure closed containers to support the surge in online shopping and last-mile delivery solutions.
2020-2022
Automation in container manufacturing
Adoption of automated production technologies has reduced costs and increased output, particularly in leading exporting countries like China and Germany.
2019-2022
The European Union introduced stricter guidelines on the use of non-recyclable plastics in covered containers, pushing manufacturers to adopt sustainable alternatives.
June 2023
Expected to increase production costs in the short term but may open new markets for eco-friendly container exporters.
A recent bilateral agreement reduced tariffs on certain closed container categories, facilitating smoother trade flows between the two largest economies.
March 2023
Likely to boost export volumes from China to the US, further solidifying China's dominance in this category.
Ongoing disruptions due to geopolitical tensions and port congestion have led to delays in the delivery of covered and closed containers, impacting trade volumes.
January 2023
Temporary price hikes and shortages in key markets, with a push towards regional sourcing to mitigate risks.