HS Code:
The category 'Valued 20ยข/liter or more but less than 40ยข/liter' typically includes specific liquid products, such as certain types of beverages, chemicals, or oils, that fall within this price range per liter. This HS code segment often relates to products like low-cost wines, non-alcoholic beverages, or industrial solvents, depending on the specific sub-code under the Harmonized System (HS). These products are traded globally with varying demand based on regional consumption patterns, production capacities, and economic factors. Trade in this category is influenced by tariffs, quality standards, and transportation costs due to the liquid nature of the goods.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade
Increasing
USD 250 million
20.8% of total trade
Stable
USD 180 million
15% of total trade
Increasing
USD 150 million
12.5% of total trade
Decreasing
USD 120 million
10% of total trade
Stable
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
2% (under free trade agreements like EU-USMCA)
Rising demand for low-cost beverages in emerging markets
Increased export opportunities for major producers like Italy and France, particularly in Asia and Africa
2021-2022
Shift towards sustainable packaging
Higher production costs due to eco-friendly packaging requirements, affecting profit margins
2020-2022
Fluctuating raw material costs
Price volatility impacting trade volumes, especially for chemical-based liquids in this price range
2022
The European Union signed a new trade agreement with several Asian countries, reducing tariffs on liquid products in this category from 10% to 5% over a phased period.
June 2023
Expected to boost exports from EU countries like Italy and France by 10-15% over the next two years.
The United States introduced new safety and labeling standards for imported beverages and chemicals, increasing compliance costs for exporters.
March 2023
Potential reduction in trade volume from smaller exporters unable to meet the new requirements.
Ongoing port congestion and shipping delays in major Asian hubs have affected the timely delivery of goods in this category.
September 2022
Temporary trade slowdowns, with a projected recovery by mid-2023.