HS Code:
The 'Flexible type' category under the Harmonized System (HS) Code typically refers to flexible products or materials such as flexible tubing, hoses, or other pliable materials used in various industrial and consumer applications. These products are often made from plastics, rubber, or metal and are utilized in sectors like automotive, construction, and manufacturing for fluid transfer, insulation, or protection purposes. This category encompasses a wide range of products with varying specifications based on flexibility, durability, and application.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for eco-friendly materials
Increased production of biodegradable and recyclable flexible products, driving innovation in sustainable manufacturing.
2021-2022
Growth in automotive and construction sectors
Higher demand for flexible tubing and hoses in electric vehicles and infrastructure projects, boosting trade volumes.
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays in raw material supply and increased production costs, affecting export timelines and pricing.
2022
The European Union introduced new regulations requiring flexible products to meet higher environmental and safety standards, impacting exporters to the region.
June 2023
Non-compliant exporters face market access challenges, while compliant manufacturers gain competitive advantage.
A revised trade agreement reduced tariffs on certain flexible product categories, facilitating smoother trade between the two nations.
March 2023
Increased export volumes from China to the US, potentially shifting market shares.
Major manufacturers in Japan and Germany unveiled new lightweight, high-durability flexible materials for industrial applications.
September 2023
Expected to drive demand in high-tech industries, positioning these countries as innovation leaders.