HS Code:
The Nuclear Reactors category (HS Code: 8401) includes nuclear reactors, machinery, and apparatus for isotopic separation, as well as parts thereof. This category encompasses critical components used in nuclear power generation, research, and other nuclear technology applications. Due to the sensitive nature of nuclear technology, trade in this category is heavily regulated under international agreements such as the Nuclear Non-Proliferation Treaty (NPT) and guidelines from the Nuclear Suppliers Group (NSG).
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.1 billion
34.4% of total trade of total trade
Increasing
USD 800 million
25.0% of total trade of total trade
Stable
USD 600 million
18.8% of total trade of total trade
Increasing
USD 400 million
12.5% of total trade of total trade
Increasing
USD 300 million
9.4% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
15% (imposed by certain developing countries on imports)
Lowest Rate
0% (under free trade agreements or WTO bindings for developed nations)
Growing demand for nuclear energy in Asia
Increased exports to countries like China and India, which are expanding their nuclear power capacities to meet energy needs and reduce carbon emissions.
2022
Shift towards small modular reactors (SMRs)
Rising interest in SMRs for their cost-effectiveness and scalability is driving innovation and trade in reactor components tailored for smaller installations.
2021-2023
Geopolitical tensions impacting supply chains
Sanctions and export restrictions, particularly involving Russia, have disrupted traditional supply chains, pushing importers to seek alternative suppliers.
2022
France agreed to supply nuclear reactor components and technology to India as part of a broader energy partnership, focusing on the Jaitapur Nuclear Power Plant project.
October 2023
This deal is expected to boost France's export volume by 10-15% in the coming years and strengthen Indo-French ties in nuclear energy cooperation.
The United States tightened export controls on nuclear technology to certain countries, citing national security and non-proliferation concerns.
July 2023
This has led to a temporary decline in U.S. exports to specific regions, redirecting trade flows to other suppliers like France and South Korea.
Russia signed contracts to supply nuclear reactor components to Egypt for the El Dabaa Nuclear Power Plant, marking its growing presence in the region.
March 2023
This development reinforces Russia's position in the global nuclear market despite Western sanctions, potentially increasing its market share.