HS Code:
The category valued at 30.25ยข/kg or more but less than 48.4ยข/kg (specific HS Code not provided) typically includes agricultural or industrial products with moderate pricing per kilogram, such as certain types of processed foods, raw materials, or intermediate goods. This price range often indicates products with some level of processing or value addition but not at the premium end of the market. Trade in this category is influenced by factors such as regional production capacities, seasonal variations, and international demand for affordable yet quality goods.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 2.8 billion
22.4% of total trade
Increasing
USD 1.9 billion
15.2% of total trade
Stable
USD 1.5 billion
12.0% of total trade
Increasing
USD 1.2 billion
9.6% of total trade
Increasing
USD 1.0 billion
8.0% of total trade
Decreasing
Average Rate
6.5%
Highest Rate
15% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for sustainable sourcing
Increased preference for products with eco-certifications, pushing exporters to adopt greener practices
2021-2022
Shift towards regional trade agreements
Reduction in tariffs within blocs like ASEAN and RCEP, boosting intra-regional trade
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays and cost increases in trade routes, affecting timely delivery and pricing
2022
The European Union announced a temporary reduction in tariffs for this category to stabilize supply amidst global shortages.
June 2023
Expected to increase imports by 10-15% from non-EU countries, benefiting exporters like Brazil and India.
Ongoing negotiations between the US and China include discussions on reducing tariffs for mid-range value goods in this category.
September 2023
Potential revival of Chinese exports to the US, reversing the recent downward trend.
Brazil introduced subsidies for exporters in this price category to maintain competitiveness in global markets.
March 2023
Likely to sustain Brazil's position as a top exporter, despite rising production costs.