HS Code:
The category 'Products of this chapter in tablets or similar forms or in packages of a gross weight not exceeding 10 kg' typically falls under various chapters of the Harmonized System (HS) Code, often related to pharmaceuticals, chemicals, or food supplements (e.g., HS Chapter 30 for pharmaceuticals or HS Chapter 21 for miscellaneous edible preparations). This category includes products like medicinal tablets, dietary supplements, or other processed goods packaged for retail or consumer use in small quantities. These products are critical in global trade due to their widespread use in healthcare, nutrition, and personal care sectors. The trade of such products is influenced by stringent regulatory requirements, quality standards, and intellectual property considerations.
Total Trade Volume
USD 45.3 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO)
USD 8.2 billion
18.1% of total trade of total trade
Increasing
USD 7.5 billion
16.6% of total trade of total trade
Stable
USD 5.1 billion
11.3% of total trade of total trade
Increasing
USD 4.8 billion
10.6% of total trade of total trade
Stable
USD 3.9 billion
8.6% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-US trade pacts or WTO commitments)
Rising demand for generic drugs and dietary supplements
Increased exports from cost-competitive countries like India and China, driving down prices and improving accessibility in developing markets
2021-2022
Shift towards e-commerce and direct-to-consumer sales
Growth in small package exports due to online pharmacies and health product platforms, necessitating faster customs clearance and logistics solutions
2020-2022
Stricter environmental and safety regulations
Higher compliance costs for manufacturers and exporters, especially in the EU and North America, potentially slowing trade growth for non-compliant producers
2022
The European Union introduced new regulations requiring tamper-proof packaging and detailed labeling for pharmaceutical tablets to combat counterfeiting.
January 2023
Increased production costs for exporters to the EU but improved consumer trust and market access for compliant companies.
A bilateral agreement was signed to reduce tariffs on generic drugs and tablets, boosting exports from India to the US market.
March 2023
Expected to increase trade volume by 10% annually for Indian exporters, benefiting US consumers with lower drug prices.
China announced investments in manufacturing facilities for dietary supplements in small packages, targeting Southeast Asian and African markets.
June 2023
Likely to intensify competition in the low-cost segment, challenging other exporters like India and Vietnam.