HS Code:
The 'Valued 50.4¢/kg or more' category under the Harmonized System (HS) Code typically refers to a specific grouping of goods (often agricultural or processed food products, such as certain types of meat, dairy, or specialty crops) that are valued at or above 50.4 cents per kilogram. This category is significant in global trade due to its association with high-value or premium products, often subject to stringent quality controls, tariffs, and trade agreements. The exact products included depend on the specific HS Code subheading, which is not fully specified here, but it generally encompasses goods with high market demand and specific import/export regulations.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
25% (applied by certain developing economies to protect local markets)
Lowest Rate
0% (under free trade agreements like EU-US TTIP or CPTPP)
Rising demand for premium and organic products
Increased trade volume in high-value categories as consumers in developed markets prioritize quality and sustainability
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary trade volume reductions and price volatility due to export bans and shipping delays
2022
Adoption of digital trade platforms
Enhanced traceability and transparency in trade, boosting buyer confidence and market access for smaller exporters
2020-2022
The European Union signed a trade agreement with several South American countries, reducing tariffs on high-value agricultural products under this category.
June 2023
Expected to increase trade volume by 15% between the regions over the next five years.
The United States introduced new sanitary and phytosanitary measures for imports in this category to prevent contamination risks.
March 2023
Potential delays and increased compliance costs for exporters, particularly from developing countries.
Extreme weather events in key exporting regions like Australia and Brazil have reduced output of goods in this category.
January 2023
Reduced supply leading to a 10% price surge in global markets.