HS Code:
The 'Valued 30.6ยข/liter or more' category typically pertains to specific liquid products, often including certain types of beverages, chemicals, or other high-value liquids classified under specific HS codes (exact code not provided). This category is significant in global trade due to its application in industries such as food and beverage, pharmaceuticals, and specialty chemicals. Trade in this category is influenced by factors such as quality standards, regional production capabilities, and international demand for premium products.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
$3.2 billion USD
25.6% of total trade of total trade
Increasing
$2.8 billion USD
22.4% of total trade of total trade
Stable
$1.9 billion USD
15.2% of total trade of total trade
Increasing
$1.5 billion USD
12.0% of total trade of total trade
Stable
$1.1 billion USD
8.8% of total trade of total trade
Decreasing
Average Rate
8.5% ad valorem
Highest Rate
15% (imposed by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for premium beverages
Increased exports from countries with strong branding in high-value liquids like France and Italy, particularly in wine and spirits.
2021-2022
Shift towards sustainable packaging
Manufacturers are adopting eco-friendly packaging to meet consumer and regulatory demands, impacting production costs and trade logistics.
2022
Growth in pharmaceutical liquid solutions
Increased trade in high-value pharmaceutical liquids due to global health demands, boosting exports from the US and Germany.
2020-2022
The EU and US finalized a mutual tariff reduction on high-value liquid categories, dropping rates to near 0% for select products under this HS code.
March 2023
Expected to increase trade volume by 10-15% between the regions over the next two years.
China introduced stricter import quotas on high-value liquids to support domestic producers, impacting exporters from the US and EU.
January 2023
Potential decrease in trade volume to China by 5-8% in 2023.
Several countries in the EU mandated sustainability certifications for imported liquid products, requiring exporters to comply with new environmental standards.
July 2022
Short-term cost increases for exporters but long-term benefits in market access and consumer trust.