HS Code:
The Microwave category, classified under HS Code 8516.50, encompasses microwave ovens used for domestic and commercial purposes. These appliances are essential in modern kitchens for heating and cooking food using microwave radiation. The global trade of microwaves is driven by consumer demand for convenience, technological advancements in energy efficiency, and smart kitchen appliances. Major production hubs are located in Asia, particularly in China, which dominates both manufacturing and export markets. The trade is influenced by factors such as disposable income, urbanization, and changing lifestyles favoring quick meal solutions.
Total Trade Volume
USD 10.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 5.2 billion
49.5% of total trade of total trade
Increasing
USD 1.1 billion
10.5% of total trade of total trade
Stable
USD 0.9 billion
8.6% of total trade of total trade
Increasing
USD 0.7 billion
6.7% of total trade of total trade
Stable
USD 0.5 billion
4.8% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
30% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-Japan EPA)
Rising demand for smart microwaves with IoT integration
Increased market share for high-end models, pushing manufacturers to innovate with app-controlled and voice-activated features
2021-2023
Shift towards energy-efficient models
Driven by environmental regulations and consumer awareness, leading to higher production costs but also premium pricing
2020-2022
Growth in compact and portable microwave designs
Catering to small households and urban apartments, expanding market reach in densely populated regions
2019-2023
The United States extended Section 301 tariffs on Chinese-made microwaves, citing unfair trade practices, which has led to a 25% additional duty on imports.
May 2023
Increased costs for US consumers and a potential shift in sourcing to other countries like Malaysia and Thailand.
The European Union introduced stricter energy efficiency labeling for microwaves under the Ecodesign Directive to promote sustainability.
January 2023
Manufacturers must adapt to new standards, potentially increasing production costs but also enhancing market competitiveness for compliant products.
China rolled out tax rebates for microwave exporters to boost competitiveness amid global trade tensions.
March 2022
Strengthened China's position as the leading exporter, potentially intensifying price competition in global markets.