HS Code:
The 'Other (647)' category under the Harmonized System (HS) Code represents a miscellaneous group of products that do not fit into more specific classifications within the broader HS framework. This category often includes unique or niche items, residual products, or goods not elsewhere specified, making it a catch-all for diverse commodities. Due to its nature, it encompasses a wide range of products, from specialized industrial components to consumer goods, with varying trade dynamics and regulatory considerations across countries.
Total Trade Volume
USD 15.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
20.9% of total trade
Increasing
USD 2.8 billion
18.3% of total trade
Increasing
USD 1.5 billion
9.8% of total trade
Stable
USD 1.2 billion
7.8% of total trade
Decreasing
USD 0.9 billion
5.9% of total trade
Increasing
Average Rate
6.2%
Highest Rate
15% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for niche products
Increased trade volume as consumer preferences shift towards specialized goods, driving exports from innovation-driven economies like the US and Germany.
2021-2022
Supply chain diversification
Countries like India and China are becoming key exporters as global companies seek alternative suppliers to mitigate risks from geopolitical tensions.
2020-2022
Digital trade integration
E-commerce platforms have boosted cross-border trade of miscellaneous goods, particularly benefiting small and medium enterprises in emerging markets.
2019-2022
The European Union introduced stricter compliance requirements for products under the 'Other (647)' category to ensure safety and environmental standards are met.
June 2023
Increased costs for exporters to the EU market but improved consumer trust in product quality.
A revised trade agreement reduced tariffs on select miscellaneous goods under this category, aiming to balance trade deficits.
March 2023
Boosted trade volumes between the two countries, with China gaining a larger market share in the US.
India launched a new incentive program to promote exports of niche products under miscellaneous categories, including tax rebates and subsidies.
January 2023
Expected to increase Indiaโs trade volume by 10-15% in this category over the next two years.