HS Code:
The category 'Nets not elsewhere specified or included' under the Harmonized System (HS) Code generally falls under Chapter 56 or 63, depending on the material and purpose (e.g., made-up textile nets or fishing nets). This category includes a variety of nets such as safety nets, cargo nets, and other specialized netting products not classified under specific headings like fishing or sports nets. These products are used across industries including construction, transportation, and agriculture for safety, packaging, or containment purposes. Global trade in this category is influenced by industrial demand, safety regulations, and material innovations.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$450 million USD
37.5% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$120 million USD
10.0% of total trade of total trade
Increasing
$90 million USD
7.5% of total trade of total trade
Increasing
$70 million USD
5.8% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for safety nets in construction
Increased trade volume in urbanizing regions due to stricter workplace safety regulations
2021-2023
Shift towards eco-friendly materials
Growth in biodegradable and recycled netting materials driven by sustainability policies
2020-2022
Automation in net manufacturing
Reduction in production costs, making nets more competitive in global markets
2019-2022
The European Union introduced new regulations requiring all safety nets to meet enhanced durability and load-bearing standards, impacting exporters to the region.
March 2023
Increased production costs for non-compliant manufacturers but improved market access for high-quality producers
A bilateral agreement reduced tariffs on certain textile-based nets, boosting trade between the two countries.
January 2023
Positive for Chinese exporters, with an estimated 15% increase in net exports to the US
India launched a subsidy program for local net manufacturers to reduce dependency on imports, affecting global suppliers.
September 2022
Potential decrease in import volumes as domestic production ramps up