HS Code:
The category 'G.V.W. not exceeding 36,287 kg' typically falls under HS Code 8704, which includes motor vehicles for the transport of goods, specifically trucks and lorries with a gross vehicle weight (G.V.W.) not exceeding 36,287 kg. This category encompasses a range of commercial vehicles used for logistics, construction, and industrial purposes. These vehicles are critical to global supply chains, facilitating the movement of goods across borders and within domestic markets. Trade in this category is influenced by factors such as industrial demand, infrastructure development, fuel efficiency standards, and environmental regulations.
Total Trade Volume
USD 45.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-Japan EPA)
Shift towards electric and hybrid commercial vehicles
Increasing demand for eco-friendly trucks due to stringent emission norms is driving innovation and shifting trade towards manufacturers with advanced EV technology.
2021-2023
Rising demand in emerging economies
Infrastructure projects in Asia and Africa are boosting imports of heavy-duty vehicles, creating new market opportunities for exporters.
2020-2022
Supply chain disruptions
Semiconductor shortages and geopolitical tensions have delayed production and exports, impacting trade volumes temporarily.
2021-2022
The European Union's Green Deal has introduced stricter emission regulations, pushing manufacturers to invest in electric and hydrogen-powered trucks under 36,287 kg G.V.W.
January 2023
Increased production costs but potential for long-term market growth in sustainable vehicle segments.
Revised rules of origin under the USMCA have encouraged regional production of commercial vehicles, benefiting manufacturers in the U.S., Canada, and Mexico.
July 2022
Strengthened North American trade ties, with a notable increase in intra-regional exports.
China has ramped up exports of cost-competitive trucks to Africa and Southeast Asia, leveraging Belt and Road Initiative infrastructure projects.
March 2023
Increased competition for traditional exporters like Germany and Japan in emerging markets.