HS Code:
The 'Other (331)' category under the Harmonized System (HS) Code typically encompasses miscellaneous products or components that do not fit into more specific classifications within the broader category (assumed to relate to a specific chapter, such as machinery, chemicals, or miscellaneous manufactured articles). This category often includes niche or specialized items, parts, or accessories with unique applications. Due to its miscellaneous nature, it captures a wide range of goods, often with varying trade regulations and tariff structures depending on the specific product and country of origin or destination.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database / World Trade Organization (WTO) Statistics
USD 3.1 billion
24.8% of total trade of total trade
Increasing
USD 2.8 billion
22.4% of total trade of total trade
Increasing
USD 1.5 billion
12.0% of total trade of total trade
Stable
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
15.0% (applied by certain developing countries for protective measures)
Lowest Rate
0.0% (under free trade agreements such as USMCA or EU-Japan EPA)
Rising demand for specialized components
Increased trade volume due to growth in niche industries such as renewable energy and advanced manufacturing requiring unique parts classified under 'Other'.
2021-2022
Shift towards regional supply chains
Reduced dependency on traditional exporters like China due to geopolitical tensions and trade disruptions, leading to growth in intra-regional trade.
2020-2022
Digitalization of trade processes
Streamlined customs procedures and e-documentation have reduced delays for miscellaneous goods, boosting trade efficiency.
2019-2022
The European Union introduced revised tariff schedules for miscellaneous categories under HS Code 331 to address discrepancies in classification and ensure fair competition.
January 2023
Expected to standardize tariffs across member states, potentially reducing trade disputes but increasing compliance costs for exporters.
Phase One trade agreement discussions included provisions to lower tariffs on certain 'Other' category goods as a goodwill measure amid ongoing negotiations.
October 2022
Temporary relief for exporters in both countries, with a projected 5-10% increase in bilateral trade for this category.
The World Trade Organization mediated a dispute between two major economies regarding the classification of products under 'Other (331)', clarifying guidelines for consistent application.
March 2022
Improved transparency in global trade practices, reducing misclassification risks and associated penalties for traders.