HS Code:
The 'Knives with silver-plated handles' category includes table knives, kitchen knives, and other types of knives that feature handles plated with silver. These products are often considered premium or luxury items, used in fine dining settings or as collectibles. They fall under specific HS Codes related to cutlery, typically within the 8211 (Knives with cutting blades) or 8215 (Spoons, forks, ladles, etc.) categories, depending on the specific use and design. This category is a niche segment of the global cutlery market, driven by demand for high-end dining ware and gift items.
Total Trade Volume
USD 45 million
Data from 2022
Source
United Nations Comtrade Database and ITC Trade Map
USD 12 million
26.7% of total trade of total trade
Increasing
USD 9 million
20.0% of total trade of total trade
Stable
USD 7 million
15.6% of total trade of total trade
Increasing
USD 5 million
11.1% of total trade of total trade
Stable
USD 4 million
8.9% of total trade of total trade
Decreasing
Average Rate
6.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for luxury dining products
Increased exports from European countries known for craftsmanship, driving market growth by 5% annually
2021-2022
Shift towards sustainable and ethically sourced materials
Manufacturers are adopting eco-friendly silver plating processes, influencing consumer preferences in premium markets
2022
Growth in online retail channels
E-commerce platforms have boosted accessibility to niche products like silver-plated knives, expanding market reach by 8% in key regions
2020-2022
The European Union introduced stricter regulations on silver content disclosure for cutlery, requiring detailed certification for imports.
January 2023
Increased compliance costs for exporters but improved consumer trust in product quality
A revised trade agreement reduced tariffs on luxury cutlery items, including silver-plated knives, from 10% to 5%.
March 2022
Boosted imports of silver-plated knives into the US market by 3% in 2022
A major trade show in Frankfurt showcased new designs and sustainable silver-plating techniques by leading manufacturers.
September 2022
Increased visibility for European exporters, leading to a projected 4% rise in trade volume for 2023