HS Code:
Parts and accessories for machines, appliances, instruments, or apparatus of Chapter 90 (HS Code 9033) encompass a wide range of components used in optical, photographic, cinematographic, measuring, checking, precision, medical, or surgical instruments and apparatus. This category includes items not specified elsewhere in Chapter 90, such as spare parts, calibration tools, and specialized accessories critical for the functionality and maintenance of high-precision equipment. These products are integral to industries like healthcare, manufacturing, research, and technology, reflecting a high demand for quality and innovation.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
4.5%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Growing demand for medical equipment parts
Increased trade volume due to global healthcare investments and aging populations driving demand for diagnostic and surgical equipment accessories.
2021-2022
Rise in automation and Industry 4.0
Higher demand for precision instrument parts used in automated manufacturing and quality control systems.
2020-2022
Supply chain diversification
Shift in sourcing strategies post-COVID-19, with companies seeking alternative suppliers to mitigate risks, affecting trade patterns.
2021-2023
Recent negotiations have led to reduced tariffs on certain precision instrument parts, boosting bilateral trade in this category.
March 2023
Expected increase in trade volume between the two countries by 10-15% over the next year.
New EU regulations under the Green Deal impose stricter environmental standards on manufacturing processes for parts and accessories, affecting exporters to the EU market.
January 2023
Potential cost increase for non-compliant exporters, with a push towards sustainable production practices.
Adoption of 3D printing for producing customized parts for precision instruments has gained traction, reshaping supply chains.
June 2022
Reduction in lead times and costs for small-batch production, benefiting smaller manufacturers.