HS Code:
The 'Valued $1.50/kg or more' category, often associated with specific agricultural or processed food products under various HS Codes (e.g., certain fruits, vegetables, or specialty goods), represents a segment of global trade where products are priced at a premium due to quality, origin, or processing standards. This category is critical in international trade as it often includes high-value, perishable, or niche products that are subject to stringent quality controls, certifications, and tariffs. Trade in this category is influenced by consumer demand for premium goods, seasonal variations, and trade agreements that facilitate or restrict market access.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database / World Trade Organization (WTO) Statistics
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.8 billion
14.4% of total trade of total trade
Increasing
USD 1.3 billion
10.4% of total trade of total trade
Increasing
USD 1.0 billion
8.0% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
35% (imposed by certain developing markets for luxury imports)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or CPTPP)
Growing demand for organic and sustainably sourced products
Increased exports from countries with strong organic certification systems, such as the Netherlands and the US, while pressuring producers in developing nations to adopt sustainable practices.
2021-2022
Impact of climate change on production cycles
Disruptions in supply chains due to adverse weather conditions have led to price volatility and shifts in sourcing regions, benefiting countries with stable climates like Chile.
2020-2022
Rise of e-commerce and direct-to-consumer models
Smaller producers are gaining access to global markets, increasing competition and diversifying trade flows, especially in premium product segments.
2022
The European Union introduced stricter phytosanitary regulations for high-value agricultural imports, requiring additional certifications for products valued at $1.50/kg or more.
January 2023
This has increased compliance costs for exporters, particularly from developing countries, potentially reducing their market share in the EU.
An updated trade agreement between the US and Chile reduced tariffs on high-value agricultural goods, boosting Chilean exports of premium fruits and vegetables.
March 2023
Chilean exporters have gained a competitive edge in the US market, with a projected 15% increase in trade volume for this category.
Following two years of logistical challenges, global shipping costs have stabilized, facilitating smoother trade flows for perishable high-value goods.
July 2023
Reduced shipping costs have lowered overall prices, making premium products more accessible and boosting trade volumes by an estimated 5%.