HS Code:
This category, valued between 37.6¢/kg and 56.4¢/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. Due to the lack of a specific HS Code provided, this response assumes a general category of goods such as certain types of fruits, vegetables, or processed commodities that fall within this value range. These products are often subject to varying tariff rates based on country of origin, trade agreements, and seasonal availability. They play a significant role in global agricultural trade, balancing between low-cost bulk commodities and higher-value specialty goods.
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
$2.1 billion USD
16.8% 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
6.5% ad valorem
Highest Rate
15% (applied by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements like USMCA or EU trade pacts)
Growing demand for organic and sustainably sourced products
Increased trade volume for certified goods, with a shift toward higher-value exports from countries with strong sustainability standards like the Netherlands and Chile
2021-2022
Impact of climate change on production cycles
Disruptions in supply from traditional exporters like Spain and Mexico due to erratic weather patterns, leading to price volatility and shifts in market share
2020-2022
Rise of regional trade agreements
Reduced tariffs and improved market access for countries within blocs like the EU or USMCA, boosting trade volumes for members like the US and Mexico
2019-2022
The European Union revised its tariff-rate quotas for agricultural imports in this value category, providing preferential access to certain Latin American countries like Chile.
March 2023
Expected to increase trade volume from Chile and Mexico by 10-15% over the next two years, potentially affecting market shares of non-preferential exporters.
The United States introduced temporary tariff relief for specific commodities in this value range to combat domestic inflation, impacting imports from key partners like Mexico.
June 2022
Led to a 5% increase in import volumes from Mexico and other USMCA partners, strengthening regional trade ties.
Severe droughts in Spain and Italy reduced exportable surplus of agricultural goods in this category, shifting demand to alternative suppliers like the Netherlands.
August 2022
Netherlands and other Northern European exporters saw a 7% rise in trade volume, while Southern European exporters face long-term recovery challenges.