HS Code:
The 'Valued 47.7¢/kg or more' category typically pertains to specific agricultural or food products under the Harmonized System (HS) Code classification, often associated with high-value goods such as specialty crops, processed foods, or premium commodities. This category is critical in global trade due to its association with quality-driven markets and premium pricing. Products in this value bracket are often subject to stringent quality controls, certifications, and trade regulations. They are traded primarily between developed economies or regions with high demand for premium goods, though emerging markets are increasingly participating as both exporters and importers.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
Average Rate
8.5%
Highest Rate
25% (applied by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for organic and sustainably sourced products
Increased trade volume in markets prioritizing eco-friendly certifications, driving up exports from countries with strong sustainability standards.
2021-2022
Growth in e-commerce for premium food products
Direct-to-consumer models have boosted trade, especially for small and medium exporters targeting niche markets in developed economies.
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary declines in trade volume in specific regions due to port delays, sanctions, and export bans, though alternative trade routes are emerging.
2022
The European Union introduced new regulations requiring additional certifications for products valued at 47.7¢/kg or more, focusing on traceability and sustainability.
June 2023
Short-term increase in compliance costs for exporters, but long-term benefits for consumer trust and market access.
A bilateral agreement reduced tariffs on high-value agricultural products, boosting exports from Brazil to the US in this category.
March 2023
Expected 15% growth in trade volume between the two countries over the next two years.
The signing of a new trade agreement among Asia-Pacific nations lowered barriers for premium goods, benefiting exporters in the region.
September 2023
Increased market access for smaller economies, diversifying global supply chains.