HS Code:
The 'Other Wire' category under the Harmonized System (HS) Code typically includes various types of wire products that do not fall under specific categories such as iron, steel, or copper wire. These can include wires made of other base metals, alloy wires, or specialized wires used in niche industrial applications. This category is critical for industries such as construction, electronics, automotive, and manufacturing, where wires serve as essential components for structural support, conductivity, or binding purposes.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.8%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for specialized wires in renewable energy applications
Increased trade volume due to the growth of solar and wind energy sectors requiring durable and high-conductivity wires
2021-2022
Shift towards sustainable production methods
Manufacturers adopting eco-friendly practices to meet regulatory standards, impacting production costs and trade pricing
2020-2022
Technological advancements in wire manufacturing
Improved product quality and efficiency leading to higher export competitiveness for technologically advanced countries
2019-2022
A revised trade agreement has reduced tariffs on 'Other Wire' products, facilitating smoother trade flows and increasing export volumes from South Korea to the EU.
March 2023
Expected to boost South Korean exports by 10% in this category over the next two years.
The United States introduced anti-dumping duties on certain wire products from China to protect domestic manufacturers from unfair pricing practices.
January 2023
Likely to reduce Chinese market share in the US, opening opportunities for other exporters like Germany and Japan.
Ongoing geopolitical tensions and port delays have disrupted the supply chain for wire products, leading to price volatility and trade delays.
October 2022
Increased costs for importers and potential shifts in sourcing strategies to more regional suppliers.