HS Code:
The Digital Electronic Type category, often classified under HS Code 85 (Electrical machinery and equipment and parts thereof), includes a wide range of products such as digital cameras, smartphones, computers, and other electronic devices that utilize digital technology for operation. This category is a cornerstone of modern global trade due to the ubiquitous nature of digital technology in consumer, industrial, and commercial applications. Products in this category are characterized by rapid innovation cycles, high demand in both developed and emerging markets, and significant supply chain interdependencies across countries.
Total Trade Volume
USD 1.5 trillion
Data from 2022
Source
United Nations Comtrade Database, World Trade Organization (WTO)
USD 600 billion
40% of total trade of total trade
Increasing
USD 200 billion
13.3% of total trade of total trade
Stable
USD 150 billion
10% of total trade of total trade
Increasing
USD 100 billion
6.7% of total trade of total trade
Stable
USD 80 billion
5.3% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain countries on specific high-tech products due to trade disputes)
Lowest Rate
0% (under free trade agreements like the Information Technology Agreement - ITA)
Increased demand for 5G-enabled devices
Significant growth in trade volume for smartphones and networking equipment as countries roll out 5G infrastructure
2021-2023
Rise of remote work and learning solutions
Boost in trade for laptops, tablets, and webcams due to sustained demand for remote connectivity tools
2020-2022
Shift towards sustainable electronics
Growing trade in energy-efficient and recyclable electronic products driven by environmental regulations and consumer preferences
2022-2023
A new phase of negotiations has led to a temporary reduction in tariffs on certain digital electronic products, easing tensions in the tech supply chain.
March 2023
Expected to increase trade flows between the two countries by 10% in the short term, benefiting manufacturers and consumers.
The European Union introduced stricter regulations on electronic waste management, mandating recycling programs for digital devices.
July 2023
May increase production costs for manufacturers but also create opportunities for recycling and green tech industries.
Ongoing shortages in semiconductor chips have disrupted the production of digital electronics, leading to supply chain bottlenecks.
Throughout 2022-2023
Reduced trade volumes for finished products and increased prices for consumers; countries investing heavily in domestic chip production.