HS Code:
The Spherical category, often associated with spherical bearings, rollers, or other precision components under HS Code 8482 (Ball or Roller Bearings), includes products used in various industrial applications such as automotive, aerospace, and machinery manufacturing. These products are critical for reducing friction between moving parts, ensuring smooth operation and longevity of equipment. The category encompasses a wide range of spherical components that are integral to mechanical systems globally.
Total Trade Volume
USD 15.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
20.5% of total trade of total trade
Increasing
USD 2.8 billion
17.9% of total trade of total trade
Stable
USD 2.5 billion
16.0% of total trade of total trade
Increasing
USD 1.9 billion
12.2% of total trade of total trade
Stable
USD 1.1 billion
7.1% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Increased demand for high-precision spherical components in electric vehicles (EVs)
Boosts trade volume as automotive industries transition to EV production, particularly in Europe and China
2022
Automation and robotics driving demand for spherical bearings
Significant growth in trade with countries investing in industrial automation, such as Japan and Germany
2021
Supply chain disruptions due to geopolitical tensions
Temporary decline in trade volumes and increased costs due to raw material shortages
2022
The European Union introduced anti-dumping duties ranging from 8% to 12% on specific spherical bearing imports from China to protect domestic manufacturers.
March 2023
Likely to shift trade flows towards other Asian exporters like Japan and South Korea
A new bilateral agreement reduced tariffs on spherical components, fostering greater market access for Japanese exporters to the US.
January 2023
Expected to increase Japanese exports by 10% in 2023
German manufacturers introduced lightweight, corrosion-resistant spherical bearings, gaining traction in aerospace applications.
June 2022
Strengthens Germany’s position as a market leader in high-value spherical components