HS Code:
The 'Valued 57.6ยข/kg or more' category under the Harmonized System (HS) Code typically refers to specific agricultural or food products, such as certain types of fruits, vegetables, or processed goods, valued at or above 57.6 cents per kilogram. This category is often subject to specific trade regulations and tariffs due to its value classification, which reflects higher quality or specialty products. Trade in this category is influenced by seasonal availability, regional production strengths, and international demand for premium goods.
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 1.3 billion
10.4% of total trade
Stable
Average Rate
8.5%
Highest Rate
35% (applied by certain developing nations for market protection)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for organic and premium products
Increased export opportunities for countries with certified organic production, driving trade volume growth by 10% annually in this value segment.
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary trade volume declines of 5-7% in key markets due to port delays and shipping cost increases.
2022
Adoption of sustainable packaging
Slight cost increases for exporters but improved market access in eco-conscious regions like the EU, boosting trade by 3%.
2022-2023
The European Union reduced tariffs on high-value agricultural imports from select countries under a new trade agreement, benefiting exporters in this category.
June 2023
Expected to increase trade volume by 8% for affected countries over the next two years.
A resolution on seasonal quotas for high-value produce was reached under the USMCA framework, easing export restrictions for Mexican producers.
March 2023
Projected to boost Mexican exports by USD 200 million annually in this category.
Severe weather events in key exporting regions like Spain and Italy led to a temporary reduction in supply of high-value goods.
August 2023
Short-term trade volume drop of 4%, with potential price increases in importing markets.