HS Code:
The Sculptures and Statuary category, classified under HS Code 9703, encompasses original sculptures and statuary, in any material, including works of art by sculptors. This category includes statues, busts, reliefs, and other three-dimensional artworks, often valued for cultural, historical, or aesthetic significance. Trade in this category is influenced by factors such as cultural heritage laws, art market demand, and international agreements on the protection of cultural property.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 250 million
20.8% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 120 million
10.0% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Decreasing
Average Rate
4.5%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements and cultural exchange programs)
Rising demand for contemporary sculptures
Increased trade volume in modern art markets, particularly in the US and Europe, driven by private collectors and auction houses.
2021-2022
Digitalization of art trade
Growth in online auctions and virtual galleries has facilitated cross-border trade of sculptures, though authentication remains a challenge.
2020-2022
Stricter regulations on cultural artifacts
Reduced legal trade of historical statuary due to tightened export controls in source countries, impacting markets in Europe and North America.
2019-2022
The European Union implemented stricter regulations on the import of cultural goods, including sculptures, to combat illicit trafficking and protect cultural heritage.
June 2022
Increased documentation requirements may slow down trade but enhance transparency and reduce illegal activities.
Auction houses like Sotheby's and Christie's reported record-breaking sales for contemporary sculptures, signaling strong market demand.
November 2022
Boosts trade volume in high-value markets, particularly in the US and UK, encouraging artists and galleries to focus on international sales.
Several countries, including Italy and Greece, signed repatriation agreements with museums and private collectors for the return of historical sculptures.
March 2023
Reduces legal trade of certain historical items while fostering international cooperation on cultural heritage preservation.