HS Code:
The 'Less than 200 mm in length' category typically refers to products such as certain types of tools, components, or materials (e.g., screws, bolts, or small machinery parts) that are under 200 mm in length. These products fall under specific HS Codes depending on their material and purpose (e.g., HS Code 7318 for screws and bolts). This category is critical in industries like construction, automotive, and electronics, where small precision components are essential. Global trade in this category is influenced by manufacturing hubs, raw material availability, and industrial demand.
Total Trade Volume
Approximately $15 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$4.5 billion USD
30% of total trade of total trade
Increasing
$2.1 billion USD
14% of total trade of total trade
Stable
$1.8 billion USD
12% of total trade of total trade
Increasing
$1.5 billion USD
10% of total trade of total trade
Stable
$1.2 billion USD
8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Rising demand for precision components in electronics
Increased trade volume due to growth in smartphone and IoT device production, particularly benefiting Asian exporters like China and South Korea.
2021-2022
Shift towards sustainable materials
Manufacturers are increasingly adopting eco-friendly materials for small components, impacting trade patterns with higher costs but better market access in regions like the EU with strict environmental regulations.
2020-2022
Automation in manufacturing
Automation has reduced production costs in countries like Germany and Japan, maintaining their competitive edge in high-quality small components despite higher labor costs.
2019-2022
The United States imposed additional tariffs on Chinese-made small components under Section 301, citing unfair trade practices.
March 2022
This has led to a shift in supply chains, with some US importers sourcing from alternative countries like Vietnam and Taiwan, affecting China's dominance in the market.
The European Union introduced stricter environmental standards under the Green Deal, requiring sustainable sourcing and production for imported components.
July 2021
Exporters must adapt to comply with regulations, increasing costs but also opening opportunities for eco-certified suppliers.
South Korea and Japan renewed commitments to reduce tariffs on industrial components, boosting bilateral trade in this category.
December 2022
This has strengthened trade ties, with both countries seeing a rise in exports of small components to each other’s markets.