HS Code:
The 'Mineral substances not elsewhere specified or included' category (HS Code: 2530) encompasses a variety of mineral products that do not fit into other specific classifications under the Harmonized System. This includes substances like natural borates, vermiculite, perlite, and other mineral materials used in industrial processes, construction, and agriculture. These minerals are often critical for niche applications, such as insulation, filtration, and as raw materials in chemical production.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU and NAFTA)
Rising demand for vermiculite and perlite in construction
Increased trade volume due to growth in sustainable building materials
2021-2022
Shift towards eco-friendly mining practices
Higher compliance costs but improved market access in environmentally conscious regions like the EU
2020-2022
Growing industrial applications of borates
Expansion of market share in chemical and glass industries
2019-2022
Turkey, a leading exporter of natural borates, has invested in new mining infrastructure to boost production by 15% to meet global demand.
March 2023
Likely to strengthen Turkey's position as a top exporter, potentially affecting prices and competition.
The European Union introduced new regulations requiring environmental impact assessments for imported mineral substances under HS 2530.
January 2023
May increase costs for exporters but ensures market access for compliant suppliers.
A bilateral agreement reduced tariffs on certain mineral substances, fostering increased trade between the two nations.
September 2022
Expected to boost US imports from China, potentially shifting trade dynamics in the sector.