HS Code:
Micrometers and calipers fall under HS Code 9017.30, which includes precision measuring instruments used for measuring small distances or dimensions with high accuracy. These tools are essential in industries such as manufacturing, engineering, and quality control for ensuring product specifications and standards. This category encompasses a range of devices including digital and analog micrometers, vernier calipers, and dial calipers, widely used in mechanical workshops, laboratories, and industrial settings.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade of total trade
Increasing
USD 250 million
21% of total trade of total trade
Stable
USD 200 million
17% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards digital micrometers and calipers
Increased demand for high-precision, user-friendly digital tools with data output capabilities, driving innovation and higher export values
2021-2022
Growth in manufacturing sectors in Asia-Pacific
Rising industrial activities in countries like China and India have boosted demand for precision measuring tools, increasing trade volumes
2020-2022
Sustainability focus in production
Manufacturers are adopting eco-friendly materials and processes, influencing cost structures and trade competitiveness
2022
Negotiations on reducing tariffs for precision instruments, including micrometers and calipers, have progressed, potentially lowering trade barriers.
June 2023
Could increase trade volumes between EU and China by easing cost burdens on importers
Introduction of updated ISO standards for digital measuring tools to ensure accuracy and interoperability across markets.
March 2023
May increase compliance costs for manufacturers but enhance product reliability and market trust
The US imposed additional tariffs on certain Chinese precision tools citing unfair trade practices.
January 2023
Potential shift in market share towards other exporters like Japan and Germany as costs for Chinese products rise