HS Code:
The 'Other (643)' category under the Harmonized System (HS) Code typically includes miscellaneous products or components that do not fall under more specific classifications within a given chapter. This category often serves as a catch-all for niche or less common items, making it diverse and varied in terms of product types. Products in this category might include specialized machinery parts, unique chemical compounds, or other goods that are not easily categorized elsewhere. Due to its nature, trade in this category can fluctuate based on specific industrial demands and innovation cycles.
Total Trade Volume
USD 15.7 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for niche industrial components
Increased trade volume in specialized markets, particularly in Asia-Pacific and Europe
2021-2022
Shift towards sustainable materials
Growing preference for eco-friendly alternatives, influencing product composition in this category
2020-2022
Digitalization of supply chains
Enhanced tracking and efficiency in trade logistics, reducing delays for miscellaneous goods
2019-2022
The signing of a new trade agreement between the EU and several Asian countries has reduced tariffs on miscellaneous goods under the 'Other (643)' category, boosting trade flows.
June 2023
Expected to increase trade volume by 5-7% in the next fiscal year
Geopolitical tensions in key manufacturing regions have led to temporary supply chain disruptions for products in this category, particularly affecting exports from China.
March 2023
Short-term price volatility and delays in delivery schedules
Introduction of advanced manufacturing technologies has led to the development of new products classified under this category, driving export growth from tech hubs like South Korea and Japan.
January 2023
Potential for long-term market expansion as new products gain traction