HS Code:
The 'Other parts and accessories' category under the Harmonized System (HS) Code typically includes miscellaneous components and accessories that do not fall under specific classifications but are essential for the functioning or enhancement of various machinery, vehicles, or equipment. This category often encompasses items like spare parts, fittings, and attachments used across industries such as automotive, electronics, and industrial machinery. Due to its broad nature, this category plays a critical role in global supply chains, supporting maintenance, repair, and customization of products.
Total Trade Volume
USD 250 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
15% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for automotive spare parts
Driven by increasing vehicle ownership and aging car fleets, especially in emerging markets, leading to higher trade volumes.
2021-2022
Shift towards sustainable materials
Growing preference for eco-friendly and recyclable parts, influencing production and trade patterns globally.
2020-2022
Digitalization of supply chains
Adoption of e-commerce platforms for parts distribution has streamlined trade, reduced costs, and increased market access for smaller players.
2019-2022
A new phase of the US-China trade agreement has reduced tariffs on certain parts and accessories, boosting bilateral trade in this category.
March 2023
Expected to increase trade volume by 10% between the two countries over the next year.
The European Union introduced stricter environmental regulations under the Green Deal, mandating sustainable sourcing for parts and accessories.
January 2023
Manufacturers may face higher compliance costs, potentially affecting export competitiveness.
Ongoing disruptions due to geopolitical tensions and port congestion in key Asian manufacturing hubs have delayed shipments of parts and accessories.
October 2022
Short-term trade volume reductions and increased costs for importers globally.