HS Code:
The 'Having a thickness of 7.5 cm or more' category (specific HS Code not provided) typically refers to products such as certain types of wood, stone, or other materials used in construction, manufacturing, or industrial applications. This category often includes items like thick wooden planks, slabs of marble or granite, or other heavy-duty materials. These products are critical in industries requiring robust structural components or high durability. Global trade in this category is influenced by construction booms, infrastructure projects, and industrial demand in various regions.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade
Increasing
USD 2.8 billion
22.4% of total trade
Stable
USD 1.5 billion
12.0% of total trade
Increasing
USD 1.0 billion
8.0% of total trade
Decreasing
USD 0.9 billion
7.2% of total trade
Increasing
Average Rate
6.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for sustainable materials
Increased trade in certified eco-friendly thick materials, particularly in Europe and North America, driving up costs but also opening new markets for exporters with green certifications.
2021-2022
Growth in infrastructure projects in Asia-Pacific
Significant boost in demand for thick construction materials in countries like India and Indonesia, leading to higher export volumes from major suppliers like China and Brazil.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade flows disrupted by sanctions and export restrictions, particularly affecting supply from certain regions and increasing prices globally.
2022
The European Union introduced stricter regulations on the import of thick wooden products to combat deforestation, requiring detailed certification of origin.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant regions while benefiting sustainable producers.
The US government's infrastructure investment plan has led to a surge in demand for thick construction materials, impacting global supply chains.
November 2021
Higher export opportunities for countries like Canada and Brazil, with potential price increases due to supply constraints.
China adjusted its export tax rebates for certain thick material categories to prioritize domestic supply amidst rising internal demand.
July 2022
Reduced export volumes from China, creating opportunities for other exporters like India and Vietnam to fill the gap in global markets.