HS Code:
The 'Valued 50.4ยข/liters or more' category typically pertains to specific liquid products, often in the beverage or chemical sectors, classified under a specific HS Code (Harmonized System Code) for international trade. This category includes high-value liquids such as premium alcoholic beverages (e.g., wines, spirits) or specialized industrial chemicals. Products in this category are subject to varying tariffs and trade regulations depending on the country of import/export due to their value and nature. Trade in this category is influenced by factors such as consumer demand for premium goods, regulatory policies on alcohol or hazardous materials, and international trade agreements.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 2.8 billion
22.4% of total trade of total trade
Stable
USD 1.9 billion
15.2% of total trade of total trade
Increasing
USD 1.5 billion
12.0% of total trade of total trade
Decreasing
USD 1.1 billion
8.8% of total trade of total trade
Stable
Average Rate
15.3% ad valorem
Highest Rate
35% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for premium spirits and wines
Increased export volumes from traditional producers like France and Italy, with a focus on high-value markets in Asia and North America.
2021-2022
Shift towards sustainable packaging
Manufacturers are adopting eco-friendly packaging to comply with environmental regulations, influencing production costs and trade logistics.
2022
Digital trade platforms gaining traction
E-commerce platforms are facilitating direct-to-consumer sales of premium liquids, boosting cross-border trade volumes.
2020-2022
The European Union and the United States agreed to suspend retaliatory tariffs on spirits and wines as part of broader trade negotiations, easing market access for exporters.
June 2023
Expected to increase trade volume by 10-15% between the two regions over the next two years.
China introduced stricter import regulations on high-value alcoholic beverages, including additional health certifications and labeling requirements.
March 2023
Potential short-term decline in exports to China, with compliance costs rising for exporters.
Several countries updated sustainability standards for chemical and beverage packaging, mandating recyclable materials for high-value liquid products.
September 2022
Increased production costs but improved market access in eco-conscious regions like the EU.