HS Code:
The category 'Parts and accessories equally suitable for use with machines of two or more of the headings 8470 to 8472' (HS Code: 8473.40) includes components and accessories that are compatible with multiple types of office machines, such as calculating machines, cash registers, and other data processing equipment. These parts are critical for the maintenance, repair, and functionality of such machinery, playing a significant role in industries reliant on automated and digital office solutions. This category encompasses a wide range of products, from mechanical components to electronic circuit boards, used across various technological applications globally.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Decreasing
USD 900 million
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
15% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Increased demand for modular components
Driven by the need for customizable and upgradable office machinery, leading to higher trade volumes in adaptable parts and accessories.
2021-2022
Shift towards sustainable manufacturing
Growing preference for eco-friendly materials and recyclable components, influencing production and trade policies.
2020-2022
Rise of automation and IoT integration
Increased trade in smart components compatible with IoT-enabled office machines, boosting innovation in this category.
2019-2022
A new phase of the US-China trade agreement has reduced tariffs on certain electronic components under HS 8473.40, facilitating smoother trade flows between the two nations.
March 2023
Expected to increase trade volume by 10-15% between the US and China in this category over the next year.
The European Union introduced stricter regulations under the Green Deal, mandating eco-friendly production standards for imported machine parts and accessories.
January 2023
May increase production costs for non-compliant exporters but opens opportunities for sustainable manufacturers.
Japan announced investments in next-gen office machine components, focusing on AI integration and energy efficiency, influencing global supply chains.
June 2022
Likely to shift trade patterns as demand for high-tech Japanese components rises.