HS Code:
The 'Other, including sides' category under the Harmonized System (HS) Code typically refers to miscellaneous products or components that do not fall under specific classifications within a broader category, such as leather, textiles, or meat products. This category often includes sides of materials (e.g., leather sides) or other residual products that are traded globally. Due to its miscellaneous nature, it encompasses a wide range of goods, often used as raw materials or intermediary products in manufacturing. Trade in this category is influenced by industrial demand, regional production capabilities, and international trade agreements.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU- Mercosur)
Growing demand for sustainable materials
Increased trade in eco-friendly processed sides and by-products due to consumer preference for sustainability
2021-2022
Shift towards digital tracking of supply chains
Enhanced transparency in trade of miscellaneous products, leading to reduced fraud and better compliance with regulations
2022
Rising production costs
Higher costs of raw materials and labor have led to reduced profit margins for exporters in developing countries
2020-2022
The European Union introduced new regulations on the import of raw materials like leather sides, requiring certification of sustainable sourcing.
March 2023
Increased compliance costs for exporters from developing countries but improved market access for certified suppliers.
A new bilateral agreement reduced tariffs on miscellaneous raw material categories, including sides, to promote industrial cooperation.
January 2023
Boosted trade volumes between the two countries, with a projected 10% increase in exports from the US.
Brazil invested in new processing facilities to increase the export of leather sides and other by-products to European markets.
October 2022
Strengthened Brazil's position as a leading exporter, potentially increasing its market share by 5% in 2023.