HS Code:
The 'Valued 18ยข/liter or more' category typically pertains to specific liquid commodities, often related to beverages or chemicals, classified under a particular HS Code (Harmonized System Code). This category includes products where the value is assessed at 18 cents per liter or higher, reflecting a premium segment of the market. These products are often subject to specific tariffs and trade regulations due to their value and nature, and they play a significant role in niche markets globally.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade
Increasing
USD 2.8 billion
22.4% of total trade
Stable
USD 1.9 billion
15.2% of total trade
Increasing
USD 1.5 billion
12.0% of total trade
Stable
USD 1.1 billion
8.8% of total trade
Decreasing
Average Rate
8.5%
Highest Rate
15% (applied by certain developing economies)
Lowest Rate
2% (under free trade agreements like EU-US)
Rising demand for premium products
Increased trade volume in high-value segments due to consumer preference for quality over quantity.
2021-2022
Shift towards sustainable sourcing
Producers adopting eco-friendly practices to meet regulatory and consumer demands, influencing trade patterns.
2020-2022
Digital trade platforms
Growth in e-commerce for cross-border sales, reducing traditional trade barriers and boosting smaller exporters.
2022
The European Union signed a new trade agreement with several Asian countries to reduce tariffs on high-value liquid commodities from 12% to 5% over the next five years.
March 2023
Expected to boost exports from Asian countries to the EU by 10% annually.
The United States introduced stricter quality control measures for imports in this category to ensure consumer safety and environmental compliance.
January 2023
May increase compliance costs for exporters, potentially reducing trade volume from non-compliant regions.
Australia and China resolved a long-standing trade dispute, leading to the lifting of punitive tariffs on Australian products in this category.
April 2023
Likely to restore trade volumes to pre-dispute levels, benefiting Australian exporters.