HS Code:
The 'Valued 40ยข/liter or more but less than 50ยข/liter' category typically pertains to specific liquid commodities, often including certain types of beverages, chemicals, or oils, as classified under the Harmonized System (HS) Code. This price range indicates a mid-tier valuation for such products in global markets, often subject to specific tariff schedules due to their value and nature. Trade in this category is influenced by regional production capacities, quality standards, and international trade agreements. The products under this category are crucial for various industries, including food and beverage, manufacturing, and chemical processing, with demand driven by both consumer and industrial needs.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade
Increasing
USD 2.1 billion
16.8% of total trade
Stable
USD 1.8 billion
14.4% of total trade
Increasing
USD 1.5 billion
12.0% of total trade
Increasing
USD 1.0 billion
8.0% of total trade
Stable
Average Rate
6.5%
Highest Rate
12% (applied by certain developing nations to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for sustainable and organic liquid products
Increased trade volume in markets prioritizing eco-friendly production, with a shift towards higher-priced, certified goods
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary declines in trade volumes in affected regions, with rerouting of supply chains to alternative markets
2022
Technological advancements in production and packaging
Reduction in production costs, potentially lowering prices and increasing trade competitiveness
2020-2022
The European Union announced a reduction in tariffs for mid-value liquid commodities under specific HS codes to encourage trade with developing nations.
June 2023
Expected to increase imports by 10-15% from partner countries in the next fiscal year.
A bilateral agreement eased restrictions on liquid commodity imports in this price range, focusing on mutual market access.
March 2023
Likely to boost trade volumes between the two nations by USD 500 million annually.
Major economies agreed on a recovery plan post-pandemic to stabilize supply chains for essential liquid commodities, including subsidies for exporters.
January 2023
Anticipated stabilization of prices and trade flows, benefiting smaller exporting nations.