HS Code:
The category 'Valued 8ยข/liters or more but less than 12ยข/liters' typically pertains to specific liquid commodities, often related to beverages, chemicals, or other liquid goods falling within this price range per liter under the Harmonized System (HS) Code classification. This price bracket often includes mid-range products that are subject to specific tariffs and trade regulations depending on the country of import/export. Due to the lack of a specific HS Code provided, this response assumes a general liquid commodity in this value range, potentially including certain types of wines, spirits, or industrial liquids.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade
Increasing
USD 250 million
20.8% of total trade
Stable
USD 180 million
15% of total trade
Increasing
USD 150 million
12.5% of total trade
Stable
USD 100 million
8.3% of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain Asian markets)
Lowest Rate
0% (under specific free trade agreements, e.g., EU-US agreements)
Rising demand for mid-range priced beverages
Increased exports from European countries due to growing consumer preference for affordable yet quality products
2021-2022
Shift towards sustainable packaging
Higher compliance costs for exporters but improved market access in eco-conscious regions like the EU
2020-2022
Digital trade platforms
Facilitated smaller exporters to enter global markets through e-commerce, boosting trade volumes
2021-2022
The European Union revised tariffs on liquid commodities in this value range, reducing rates by 2% to encourage imports from developing nations.
March 2023
Expected to increase trade volume by 10% from African and Latin American exporters.
A new bilateral agreement between the US and China includes reduced restrictions on mid-range liquid imports, aiming to balance trade deficits.
January 2023
Likely to boost Chinese exports to the US by USD 50 million annually.
Ongoing disruptions due to geopolitical tensions have led to delays and increased shipping costs for liquid commodities in this price range.
June 2022
Temporary reduction in trade volumes by 5% globally, with recovery expected by mid-2023.