HS Code:
The 'Of Bamboo' category, typically classified under HS Code 4602 (Basketwork, wickerwork, and other articles made directly from plaiting materials or made up from goods of heading 4601; articles of loofah), includes a wide range of products such as furniture, baskets, mats, and other household or decorative items made primarily from bamboo. Bamboo is a sustainable and fast-growing material, making it a popular choice for eco-friendly products. This category is significant in global trade due to the material's versatility, affordability, and increasing demand for sustainable goods.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.8 billion
72% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Increasing
USD 150 million
6% of total trade of total trade
Stable
USD 100 million
4% of total trade of total trade
Stable
USD 80 million
3% of total trade of total trade
Increasing
Average Rate
8.5%
Highest Rate
25% (applied by certain countries for protective measures on domestic industries)
Lowest Rate
0% (under free trade agreements or for Least Developed Countries)
Rising demand for sustainable and eco-friendly products
Increased export opportunities for bamboo-producing countries as consumers shift towards green alternatives
2021-2023
Growth in e-commerce platforms
Small and medium enterprises in bamboo-producing regions gain access to global markets through online sales
2020-2022
Innovation in bamboo processing technology
Improved quality and durability of bamboo products, boosting competitiveness against plastic and wooden alternatives
2019-2023
The European Union's Green Deal has introduced stricter sustainability standards for imported bamboo products, requiring certifications and traceability.
March 2023
Potential cost increase for exporters but also an opportunity for certified producers to gain market share.
A new trade agreement phase has reduced tariffs on certain bamboo products from China to the US, promoting higher trade volumes.
January 2023
Expected increase in Chinese bamboo exports to the US by 10-15% in 2023.
Vietnam launched a national program to support bamboo product exporters with subsidies and training for sustainable practices.
September 2022
Likely to strengthen Vietnam's position as a top exporter in the coming years.