HS Code:
The 'Solid' category, often associated with various Harmonized System (HS) Codes depending on specific materials or products (e.g., solid fuels, chemicals, or minerals), encompasses a wide range of tangible goods that are in a solid state at room temperature. This category includes raw materials like coal, ores, and solid chemicals, as well as manufactured solid products like ceramics or metal goods. These products are critical to industries such as energy, construction, and manufacturing, with trade heavily influenced by resource availability, industrial demand, and geopolitical factors.
Total Trade Volume
USD 1.2 trillion
Data from 2022
Source
United Nations Comtrade Database
USD 300 billion
25% of total trade of total trade
Increasing
USD 180 billion
15% of total trade of total trade
Stable
USD 120 billion
10% of total trade of total trade
Increasing
USD 90 billion
7.5% of total trade of total trade
Stable
USD 75 billion
6.25% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
25% (applied by certain countries on specific solid chemical imports)
Lowest Rate
0% (under free trade agreements for raw materials like coal)
Rising demand for solid renewable energy materials
Increased trade in materials like biomass pellets and solid-state battery components due to global shift towards sustainability.
2021-2023
Decline in traditional coal trade
Reduced export volumes from major coal-producing countries as nations transition to cleaner energy sources.
2020-2022
Growth in rare earth element trade
Surging demand for solids used in electronics and green tech, leading to higher prices and trade tensions.
2022-2023
China imposed stricter export controls on rare earth elements to prioritize domestic tech industries, impacting global supply chains.
January 2023
Increased prices and supply shortages for countries reliant on Chinese exports.
The European Union introduced carbon border adjustment mechanisms affecting imports of high-emission solid fuels like coal.
July 2023
Higher costs for exporters to the EU and a push towards cleaner alternatives.
A new bilateral agreement reduced tariffs on solid minerals and coal traded between Australia and Indonesia.
March 2023
Boosted trade volumes and strengthened economic ties in the Asia-Pacific region.