HS Code:
The 'Fishing reels and parts and accessories thereof' category, classified under HS Code 9507.30, encompasses various types of fishing reels used for angling, including spinning reels, baitcasting reels, and fly reels, as well as their components and accessories. This category is a significant segment of the sporting goods and recreational equipment market, driven by the global popularity of recreational fishing and sport fishing activities. The trade of fishing reels involves a complex supply chain with manufacturing hubs primarily in Asia, while demand is spread across North America, Europe, and other regions with strong fishing cultures.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$650 million USD
54.2% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Increasing
$50 million USD
4.2% of total trade of total trade
Stable
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries on imports)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rising demand for high-tech fishing reels
Increased innovation in lightweight materials and digital features like GPS and fish finders integrated into reels, driving up market value and competition among premium brands.
2021-2023
Growth in recreational fishing
Post-pandemic surge in outdoor activities has boosted demand for fishing equipment, particularly in North America and Europe, leading to higher import volumes.
2020-2022
Sustainability concerns
Manufacturers are shifting towards eco-friendly materials and packaging due to consumer and regulatory pressure, impacting production costs and trade patterns.
2022-2023
Additional tariffs imposed by the United States on Chinese-made fishing reels under Section 301 have led to a slight shift in sourcing to other Asian countries like Vietnam and Malaysia.
Mid-2022
Increased costs for US importers and potential diversification of supply chains.
The European Union introduced stricter environmental standards for imported fishing equipment, focusing on recyclable materials and reduced plastic use in packaging.
January 2023
Manufacturers in exporting countries are adapting to comply, potentially increasing costs but also opening markets for sustainable products.
Japanese manufacturers unveiled new fishing reel models with enhanced durability and smart technology at the 2023 Osaka Fishing Show, reinforcing Japan's position as a leader in premium products.
February 2023
Likely to sustain Japan's stable trade volume and high-value exports despite lower overall market share compared to China.