HS Code:
The 'Valued 36.9/kg or more' category typically refers to high-value products under specific HS Codes, often associated with luxury goods, specialized industrial materials, or premium agricultural products. These products are characterized by their high unit value, often due to quality, rarity, or advanced manufacturing processes. This category is significant in global trade due to its contribution to niche markets and high revenue generation despite lower volume compared to bulk commodities.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
15% (applied by certain developing economies to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Switzerland or USMCA)
Growing demand for sustainable and ethically sourced high-value products
Increased market share for producers adhering to environmental and social standards, particularly in European and North American markets
2021-2022
Rise in digital trade platforms for luxury and specialized goods
Smaller exporters gaining access to global markets, reducing dependency on traditional trade hubs
2020-2022
Shift towards regional supply chains post-COVID-19
Reduction in long-distance trade for certain high-value goods, with increased intra-regional trade in Europe and Asia
2020-2022
The European Union announced a reduction in tariffs for specific high-value goods under this category to encourage trade with strategic partners, effective from mid-2023.
June 2023
Expected to boost imports from Switzerland and the US by 10-15% over the next two years.
A new bilateral agreement has reduced tariffs on select high-value products in this category as part of broader trade negotiations.
March 2023
Likely to increase trade volume between the two countries, particularly benefiting US exporters.
Japan introduced mandatory sustainability certifications for high-value imports to ensure compliance with environmental standards.
January 2023
May create short-term barriers for exporters not yet compliant, but long-term benefits for sustainable producers.