HS Code:
Router bits not suitable for cutting metal (typically under HS Code 8207.70) are specialized cutting tools used primarily in woodworking and other non-metal applications. These tools are designed for use with routers to shape, trim, or hollow out materials such as wood, plastic, and composites. They are critical in industries like furniture manufacturing, construction, and DIY home improvement. The category excludes bits specifically engineered for metalworking due to differences in material composition and design requirements.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for precision woodworking tools
Increased export volumes from manufacturing hubs like China and Germany due to growth in furniture and construction industries.
2021-2022
Shift toward eco-friendly materials
Manufacturers are adopting sustainable production practices, influencing trade patterns with higher costs but better market access in eco-conscious regions like the EU.
2022
Technological advancements in router bit design
Innovations such as longer-lasting coatings and ergonomic designs are driving demand for premium products, particularly from Germany and the US.
2020-2022
The European Union introduced new safety and material standards for router bits to ensure user safety and environmental compliance, affecting non-EU exporters.
March 2023
Non-EU exporters, especially from China, face higher compliance costs but potential long-term market access benefits.
A revised trade agreement reduced tariffs on certain woodworking tools, including router bits, fostering increased imports from China to the US.
January 2023
Boosted trade volume for Chinese manufacturers, with a projected 10% increase in exports to the US in 2023.
Major manufacturers in Germany and Japan have invested in automated production lines, improving efficiency and reducing costs.
October 2022
Enhanced competitiveness of German and Japanese products in global markets, potentially affecting pricing structures.