HS Code:
The Handheld category, often encompassing portable electronic devices such as smartphones, tablets, and other personal gadgets under various HS Codes (e.g., HS 8517 for telephones and HS 8471 for portable computers), represents a significant segment of global trade. These products are integral to modern communication, entertainment, and productivity, driving innovation and consumer demand worldwide. The category includes a wide range of products characterized by their portability and personal use, often featuring advanced technologies like touchscreens, wireless connectivity, and high-performance processors.
Total Trade Volume
USD 750 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Reports
USD 300 billion
40% of total trade of total trade
Increasing
USD 120 billion
16% of total trade of total trade
Stable
USD 80 billion
10.7% of total trade of total trade
Increasing
USD 50 billion
6.7% of total trade of total trade
Increasing
USD 30 billion
4% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rise of 5G-enabled handheld devices
Increased demand for smartphones and tablets supporting 5G technology, boosting trade volumes particularly from tech hubs like China and South Korea.
2021-2023
Shift towards sustainable manufacturing
Growing consumer preference for eco-friendly devices is pushing manufacturers to adopt recyclable materials, influencing sourcing and trade patterns.
2022-2023
Diversification of supply chains
Geopolitical tensions and trade wars have led to a shift in manufacturing bases from China to countries like Vietnam and India, altering trade flows.
2020-2023
The agreement includes provisions to reduce tariffs on certain handheld electronics, aiming to balance trade deficits and improve market access for US consumers.
January 2023
Expected to increase imports of Chinese handheld devices into the US by 10-15% over the next two years.
The EU introduced regulations requiring digital passports for handheld devices to track sustainability and recycling data, impacting exporters to the region.
March 2023
Manufacturers may face increased compliance costs, potentially raising product prices in the EU market by 3-5%.
India expanded its PLI scheme to incentivize local production of handheld devices, attracting major manufacturers to set up facilities in the country.
April 2023
Likely to boost India’s export share in the handheld category by 5% over the next five years while reducing reliance on imports.