HS Code:
The category 'Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of headings 8470 to 8472' under HS Code 8473 includes components and accessories for calculating machines, cash registers, automatic data processing machines, and other office machinery. This category encompasses a wide range of products such as circuit boards, memory modules, and other internal components critical to the functionality of these machines. These parts are essential for the maintenance, repair, and upgrading of technology used in business and personal computing environments globally.
Total Trade Volume
USD 150 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
4.5%
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rising demand for semiconductor components
Increased trade volume due to global chip shortages and the push for localized production
2021-2022
Shift towards sustainable and recyclable materials
Manufacturers are adapting to regulations on e-waste, influencing design and sourcing of parts
2022
Growth in remote working solutions
Higher demand for laptop and server components as businesses and individuals upgrade IT infrastructure
2020-2022
Escalating tariffs on tech components as part of broader trade disputes have led to supply chain disruptions for HS 8473 products.
Mid-2022
Increased costs for manufacturers and potential delays in product availability
New EU policies under the Green Deal impose stricter recycling and sustainability standards on electronic components.
January 2023
Manufacturers may face higher compliance costs but gain long-term market access benefits in the EU
Governments and private sectors are investing heavily in domestic semiconductor production to reduce dependency on foreign supply chains.
Late 2022
Potential shift in trade patterns as new production hubs emerge in the US, EU, and India