HS Code:
The product category valued at 90ยข/kg or more but less than $1.20/kg (specific HS Code not provided in the query) generally includes commodities or processed goods that fall within this price range per kilogram. This category often encompasses agricultural products, certain food items, or industrial raw materials that are traded globally in significant volumes. Due to the moderate pricing, these goods are often subject to specific tariff structures and trade agreements to regulate market access and protect domestic industries. The category is critical in international trade due to its balance between affordability and value, making it a focal point for both exporting and importing nations.
Total Trade Volume
Approximately $15.7 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
20.4% of total trade of total trade
Increasing
$2.8 billion USD
17.8% of total trade of total trade
Stable
$1.9 billion USD
12.1% of total trade of total trade
Increasing
$1.5 billion USD
9.6% of total trade of total trade
Stable
$1.3 billion USD
8.3% of total trade of total trade
Decreasing
Average Rate
6.5% ad valorem
Highest Rate
15% (applied by certain developing nations to protect local markets)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for sustainable sourcing
Increased preference for certified products drives exporters to adopt eco-friendly practices, influencing trade volumes from countries with strong sustainability standards.
2021-2022
Fluctuations in global commodity prices
Price volatility affects the categorization of products within this value range, shifting trade patterns as goods move in and out of the 90ยข-$1.20/kg bracket.
2020-2022
Growth in regional trade agreements
Agreements like RCEP and AfCFTA have reduced tariffs, boosting trade volumes among member countries for goods in this category.
2022
The European Union adjusted tariff quotas for certain agricultural products in this value range to balance imports and protect local farmers, affecting exporters from Latin America.
June 2023
Potential reduction in trade volume from non-EU countries by 5-10% in the short term.
Phase 1 of the US-China trade deal saw a temporary reduction in tariffs on select goods within this price category, boosting bilateral trade.
March 2023
Increased exports from the US to China by approximately $500 million USD for this category.
Severe weather events in key exporting countries like Brazil have disrupted supply chains for agricultural goods in this value range, leading to price spikes.
September 2023
Short-term supply shortages and potential reclassification of goods out of this value bracket due to price increases.