HS Code:
The 'Other devices, appliances and instruments' category under the Harmonized System (HS) Code typically includes a diverse range of miscellaneous electrical and non-electrical devices and instruments not classified under more specific categories. This can encompass items such as specialized medical instruments, certain household appliances, or niche industrial tools. Due to the broad nature of this category, products can vary significantly in terms of application, ranging from consumer goods to industrial equipment.
Total Trade Volume
USD 45.7 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.8%
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU Single Market)
Growing demand for smart and IoT-enabled devices
Increased trade volume due to integration of technology in everyday appliances and instruments, driving innovation and exports from tech-savvy countries.
2021-2022
Shift towards sustainable and energy-efficient products
Manufacturers are adapting to stricter environmental regulations, influencing production and trade patterns with a focus on green technology.
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays and increased costs in trade flows, particularly affecting major exporters like China and importers in North America and Europe.
2022
The European Union introduced stricter safety and environmental standards for imported devices and appliances, requiring additional certifications.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volume from non-compliant manufacturers.
Recent negotiations resulted in a temporary reduction of tariffs on specific categories of devices and instruments between the US and China.
January 2023
Expected to boost trade volume between the two countries, benefiting Chinese exporters and US consumers with lower prices.
Major manufacturers in Japan and South Korea unveiled new lines of IoT-enabled appliances, targeting global markets.
June 2023
Likely to increase export figures from these countries, reinforcing their positions in the global market.