HS Code:
The 'Valued $2.75/kg or more' category typically includes high-value agricultural or processed food products under specific HS Codes (Harmonized System Codes) as defined by the World Customs Organization. This category often encompasses premium goods such as specialty fruits, vegetables, or processed items where the value per kilogram exceeds $2.75. These products are traded globally with significant variation in demand based on quality, seasonality, and regional preferences. Trade in this category is influenced by factors such as consumer trends towards premium and organic products, as well as trade agreements and tariff barriers.
Total Trade Volume
$12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.1 billion USD
24.8% of total trade of total trade
Increasing
$2.2 billion USD
17.6% of total trade of total trade
Stable
$1.8 billion USD
14.4% of total trade of total trade
Increasing
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.0 billion USD
8.0% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
35% (imposed by certain developing countries to protect local markets)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for organic and premium products
Increased trade volume in high-value categories as consumers prioritize quality and sustainability, particularly in developed markets like the EU and North America.
2021-2022
Growth in e-commerce for specialty foods
Direct-to-consumer platforms have boosted cross-border trade of niche high-value products, bypassing traditional retail channels.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade routes and export volumes have been affected by conflicts and sanctions, leading to price volatility for high-value goods.
2022
Negotiations have advanced to reduce tariffs on high-value agricultural products, potentially increasing trade volume for South American exporters in the '$2.75/kg or more' category.
June 2023
Expected to lower average tariff rates by 5-10% for key exporters like Argentina and Brazil, boosting competitiveness.
The agreement includes provisions to reduce tariffs on select high-value agricultural goods, benefiting US exporters in this category.
March 2023
Increased market access to China, with trade volume projected to grow by 15% for US exporters over the next two years.
Japan has introduced tighter sanitary and phytosanitary regulations for imported high-value food products to ensure consumer safety.
January 2023
Potential delays and increased compliance costs for exporters, particularly from developing countries, affecting trade flows.