HS Code:
The 'Parts and accessories of the machines of heading 8470' category (HS Code: 8473) encompasses components and accessories specifically designed for use with calculating machines, accounting machines, cash registers, postage-franking machines, ticket-issuing machines, and similar equipment. This category includes a wide range of items such as keyboards, display panels, circuit boards, and other spare parts integral to the operation and maintenance of these machines. These products are crucial in industries like retail, banking, and logistics, where such machines are extensively used for transactional and operational purposes. The global trade of these parts and accessories is driven by the demand for technological upgrades, maintenance, and the increasing adoption of automated systems across various sectors.
Total Trade Volume
USD 15.8 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Increased demand for contactless payment systems
Drives the need for upgraded parts and accessories compatible with modern POS systems and cashless transaction machines.
2021-2022
Growth in e-commerce and logistics automation
Boosts demand for ticket-issuing and labeling machine components in warehousing and shipping sectors.
2020-2022
Shift towards sustainable and energy-efficient components
Encourages manufacturers to develop eco-friendly parts, influencing trade patterns with a focus on green certifications.
2022
Ongoing trade disputes have led to additional tariffs on Chinese-made parts and accessories for machines under HS 8473, prompting supply chain diversification.
Mid-2022
Increased costs for US importers and a shift towards alternative suppliers in Vietnam and Taiwan.
The EU has introduced regulations to standardize electronic components for transactional machines, facilitating easier intra-EU trade.
Early 2023
Reduced trade barriers within the EU, benefiting exporters like Germany with streamlined compliance.
Major manufacturers have launched next-generation point-of-sale systems requiring specialized components, driving trade in high-tech accessories.
Late 2022
Increased export opportunities for tech-heavy economies like South Korea and Japan.