HS Code:
The category of Gas, liquid or electricity supply or production meters, including calibrating meters thereof; parts and accessories thereof (HS Code: 9028) encompasses a range of devices used for measuring the consumption or production of gas, liquid, or electricity. These meters are critical in residential, commercial, and industrial applications for billing, monitoring, and resource management. The category also includes parts and accessories essential for the maintenance and calibration of these meters, ensuring accuracy and reliability in measurement. This product category plays a significant role in energy management and infrastructure development globally.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.1 billion
21.2% of total trade of total trade
Increasing
USD 800 million
15.4% of total trade of total trade
Stable
USD 750 million
14.4% of total trade of total trade
Increasing
USD 500 million
9.6% of total trade of total trade
Stable
USD 400 million
7.7% of total trade of total trade
Decreasing
Average Rate
5.3% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for smart meters
Increased adoption of IoT-enabled meters for real-time data monitoring, driving trade growth in advanced economies
2021-2023
Shift towards renewable energy integration
Growing need for meters compatible with renewable energy sources, boosting innovation and trade in specialized products
2020-2022
Supply chain disruptions
Shortages of semiconductor components for digital meters have led to delays and increased costs in production and trade
2021-2022
The European Unionโs Green Deal initiative has accelerated the deployment of smart gas and electricity meters to support energy efficiency goals, influencing global trade patterns.
March 2023
Increased exports of smart metering technology from EU countries to meet regional demand.
Ongoing trade disputes have led to additional tariffs on Chinese-manufactured meters exported to the US, prompting a shift in supply chains to other Asian countries.
January 2023
Diversification of supply sources, with countries like Vietnam and India gaining market share.
The shortage of semiconductors has affected the production of advanced digital meters, leading to reduced trade volumes in certain markets.
October 2022
Temporary decline in exports from tech-heavy economies like Japan and South Korea.