HS Code:
The category V. SALTS AND PEROXYSALTS, OF INORGANIC ACIDS AND METALS falls under the Harmonized System (HS) Code Chapter 28, which covers inorganic chemicals. This category includes a variety of chemical compounds such as chlorides, chlorates, perchlorates, bromides, iodides, sulfates, and other salts and peroxosalts of inorganic acids and metals. These products are critical in industries like agriculture (fertilizers), water treatment, pharmaceuticals, and manufacturing of other chemicals. Global trade in this category is influenced by industrial demand, raw material availability, and regulatory frameworks concerning chemical safety and environmental impact.
Total Trade Volume
Approximately $15 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
21.3% of total trade of total trade
Increasing
$2.1 billion USD
14.0% of total trade of total trade
Stable
$1.8 billion USD
12.0% of total trade of total trade
Increasing
$1.5 billion USD
10.0% of total trade of total trade
Increasing
$1.0 billion USD
6.7% of total trade of total trade
Stable
Average Rate
5.5% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for fertilizers
Increased trade in sulfates and other salts used in agricultural applications, particularly in Asia-Pacific and Africa
2021-2022
Shift towards green chemistry
Growing preference for eco-friendly and less toxic chemical alternatives, affecting trade of traditional salts
2020-2022
Supply chain disruptions
Global supply chain issues due to geopolitical tensions and pandemics have led to price volatility and trade delays
2020-2022
The European Union introduced stricter REACH regulations for importing inorganic salts, focusing on environmental and safety compliance.
January 2023
Increased compliance costs for exporters to the EU, potential reduction in trade volume from non-compliant countries
China adjusted export tax rebates for certain chemical products, including inorganic salts, to balance domestic supply and international trade.
March 2022
Slight increase in export prices, potentially affecting competitiveness in price-sensitive markets
Updated rules under the USMCA have facilitated tariff-free trade of specific inorganic salts between the US, Mexico, and Canada.
July 2022
Boosted trade volumes within North America, strengthening regional supply chains