HS Code:
This category, often associated with medium-duty trucks and commercial vehicles, includes vehicles with an unladen weight exceeding 4,536 kg but not exceeding 15,000 kg. These vehicles are typically used for transportation of goods, construction, and other industrial purposes. They fall under HS Code 8704 (Motor vehicles for the transport of goods), specifically subcategories related to medium-weight vehicles. This segment is critical for logistics and supply chain operations globally, with demand driven by industrial growth, infrastructure development, and e-commerce expansion.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 5.1 billion
20.2% of total trade of total trade
Increasing
USD 4.8 billion
19.0% of total trade of total trade
Stable
USD 3.2 billion
12.6% of total trade of total trade
Increasing
USD 2.9 billion
11.5% of total trade of total trade
Increasing
USD 1.8 billion
7.1% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Shift towards electric and hybrid medium-duty trucks
Increasing demand for eco-friendly vehicles due to stricter emission regulations and corporate sustainability goals
2021-2023
Growth in e-commerce and last-mile delivery
Higher demand for medium-duty vehicles for urban logistics and distribution networks
2020-2022
Supply chain disruptions and semiconductor shortages
Delayed production and delivery of vehicles, leading to temporary trade volume declines
2021-2022
The European Union introduced new CO2 emission targets for medium-duty vehicles, pushing manufacturers to invest in electric and hybrid technologies.
January 2023
Likely to increase production costs in the short term but boost trade in electric vehicle components.
The United States-Mexico-Canada Agreement has reduced tariffs on medium-duty vehicles, facilitating increased trade within the region.
July 2020 (ongoing impact in 2022-2023)
Strengthened market access for manufacturers in the US, Canada, and Mexico, increasing regional trade volumes.
Chinese manufacturers have expanded their global market share by offering cost-competitive medium-duty trucks, especially in developing economies.
Mid-2022
Increased competition for traditional exporters like Germany and Japan, potentially reshaping trade patterns.