HS Code:
The 'Other (including parts thereof)' category under the Harmonized System (HS) Code typically serves as a residual category for products or parts that do not fit into more specific classifications within a given chapter or section. This category often includes miscellaneous items, components, or accessories related to a broader product group, such as machinery, vehicles, or electronics. Due to its catch-all nature, it encompasses a wide variety of goods, making it a significant but diverse segment of global trade. Trade in this category is influenced by industrial demand, technological advancements, and supply chain dynamics.
Total Trade Volume
USD 1.2 trillion
Data from 2022
Source
United Nations Comtrade Database
USD 300 billion
25% of total trade of total trade
Increasing
USD 200 billion
16.7% of total trade of total trade
Stable
USD 150 billion
12.5% of total trade of total trade
Increasing
USD 100 billion
8.3% of total trade of total trade
Stable
USD 80 billion
6.7% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
15% (imposed by certain developing countries on luxury or non-essential parts)
Lowest Rate
0% (under free trade agreements or for essential components in specific regions)
Rising demand for specialized components
Increased trade in niche parts for industries like renewable energy and electric vehicles, driving growth in this category.
2021-2022
Supply chain diversification
Countries are sourcing parts from multiple regions to mitigate risks from geopolitical tensions or disruptions, reshaping trade flows.
2020-2022
Technological advancements
Innovations in manufacturing and 3D printing are reducing costs and altering traditional trade patterns for parts and components.
2019-2022
A new phase of the US-China trade agreement reduced tariffs on certain 'Other' category parts, boosting bilateral trade in industrial components.
March 2023
Expected to increase trade volume by 10% between the two countries in this category.
The EU introduced stricter environmental standards for imported parts, affecting exporters in the 'Other' category who must now comply with sustainability criteria.
January 2023
Potential short-term trade decline for non-compliant exporters, with long-term benefits for sustainable manufacturers.
Ongoing shortages in semiconductors have increased demand and prices for related parts in the 'Other' category, particularly for electronics and automotive industries.
Mid-2022
Trade volume surged by 15% for specific sub-categories, with supply constraints persisting into 2023.