HS Code:
The category 'Having both wheels not exceeding 50 cm in diameter' typically falls under HS Code 8714.94 or related subcategories, which includes parts and accessories of bicycles, tricycles, and other cycles, such as wheels with a diameter not exceeding 50 cm. This category is often associated with children's bicycles, tricycles, and certain types of specialized cycles. These products are widely traded globally due to the demand for affordable transportation and recreational equipment, particularly in developing and urbanizing regions. The trade of such products is influenced by manufacturing capabilities, labor costs, and regional demand for child-friendly mobility solutions.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Reports
$650 million USD
54.2% of total trade of total trade
Increasing
$180 million USD
15.0% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
$60 million USD
5.0% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rising demand for eco-friendly children's transportation
Increased production and export from countries with sustainable manufacturing practices
2021-2022
Shift towards lightweight and durable materials
Higher costs but improved product longevity, influencing trade towards premium markets
2020-2022
Growth in e-commerce sales channels
Direct-to-consumer models are increasing, affecting traditional bulk trade patterns
2019-2022
The European Union extended anti-dumping duties on certain bicycle parts, including wheels under 50 cm in diameter, originating from China to protect local manufacturers.
March 2023
Potential shift in trade flows towards other Asian exporters like Vietnam and Taiwan
Revised rules of origin under the USMCA have made it easier for North American manufacturers to compete in the regional market for small-wheeled cycles.
July 2022
Increased intra-regional trade among the US, Canada, and Mexico
Vietnam has emerged as a key player in the production of bicycle parts due to lower labor costs and favorable trade agreements with the EU and US.
October 2022
Significant growth in Vietnam's export share for this product category