HS Code:
The category 'Having a power handling capacity of <1 kVA' typically falls under HS Code 8504.21 or related subcategories, covering electrical transformers, static converters, and inductors with a power handling capacity of less than 1 kVA. These products are essential in various electronic devices, power supply units, and small-scale industrial applications, facilitating voltage transformation and power management in low-power systems.
Total Trade Volume
USD 2.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for energy-efficient transformers
Increased production and export from countries with advanced manufacturing capabilities like Germany and Japan
2021-2022
Shift towards renewable energy applications
Growing use in solar inverters and small-scale wind power systems, boosting trade in the US and China
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary trade volume reductions and price hikes in key markets due to raw material shortages
2022
The United States introduced additional tariffs on Chinese-made transformers under HS 8504.21 as part of broader trade restrictions.
May 2023
Potential shift of imports to other Asian countries like Vietnam and South Korea
The European Union's Green Deal initiatives have increased demand for low-power transformers in renewable energy projects.
March 2023
Positive growth in exports from Germany and other EU member states
Post-COVID recovery in China has led to a significant increase in production and export of low-power electrical components.
January 2023
Strengthened China's position as the leading exporter, impacting global pricing