HS Code:
Jewelers' balances and parts and accessories thereof (HS Code: 901600) encompass precision weighing instruments specifically designed for jewelers and gemologists, along with their associated components. These balances are critical in the jewelry industry for accurate measurement of precious metals and gemstones. This category includes both mechanical and electronic balances tailored for high precision, as well as calibration weights and protective casings. Global trade in this category is driven by demand from jewelry manufacturing hubs, gemstone trading centers, and quality control laboratories.
Total Trade Volume
USD 150 million
Data from 2022
Source
United Nations Comtrade Database
USD 35 million
23.3% of total trade of total trade
Increasing
USD 28 million
18.7% of total trade of total trade
Stable
USD 20 million
13.3% of total trade of total trade
Increasing
USD 18 million
12.0% of total trade of total trade
Increasing
USD 15 million
10.0% of total trade of total trade
Stable
Average Rate
4.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards digital balances
Increased demand for electronic jewelers' balances with higher accuracy and connectivity features, driving innovation and competition among manufacturers.
2021-2022
Growth in jewelry manufacturing in Asia
Rising exports to countries like India and Thailand, which are major jewelry production hubs, boosting trade volumes for balances and accessories.
2020-2022
Sustainability focus
Manufacturers adopting eco-friendly materials and processes for parts and accessories to comply with international environmental standards, influencing production costs.
2022
The European Union introduced updated metrology standards for precision balances, mandating stricter calibration requirements for jewelers' balances sold in the region.
March 2023
Manufacturers exporting to the EU must invest in compliance, potentially increasing costs but ensuring higher product quality and market trust.
A revised trade agreement reduced tariffs on precision instruments, including jewelers' balances, between the US and China, facilitating smoother trade flows.
January 2023
Lowered costs for US importers and increased market access for Chinese manufacturers, likely boosting trade volume in this category.
Leading manufacturers in Germany and Japan unveiled new models of jewelers' balances with integrated IoT features for real-time data tracking and calibration alerts.
September 2022
Increased demand for high-tech balances, particularly in developed markets, driving up trade values and fostering innovation.