HS Code:
The category 'Valued 95.4¢/kg or more but less than $1.431/kg' typically includes specific agricultural or processed food products under the Harmonized System (HS) Code framework. This price range often pertains to commodities like certain types of seafood, specialty crops, or processed goods where value per kilogram is a critical classification factor. Products in this range are often subject to specific tariffs and trade regulations due to their value and market sensitivity. This category is significant in international trade due to its relevance in food security, agricultural policy, and economic competitiveness.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
$3.2 billion USD
25.6% of total trade of total trade
Increasing
$2.8 billion USD
22.4% of total trade of total trade
Stable
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.1 billion USD
8.8% of total trade of total trade
Decreasing
$0.9 billion USD
7.2% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
15% (applied by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for sustainably sourced products
Increased certification requirements and higher compliance costs for exporters, benefiting countries with established sustainability standards.
2021-2022
Shift towards regional trade agreements
Reduced tariffs within blocs like the EU and ASEAN, creating competitive disadvantages for non-member exporters.
2020-2022
Impact of global supply chain disruptions
Delays and increased shipping costs have affected trade volumes, particularly for perishable goods in this value range.
2021-2023
The European Union revised tariffs on agricultural imports in this value category to protect domestic farmers, increasing rates by an average of 2% for non-FTA partners.
March 2023
Non-EU exporters face higher costs, potentially reducing their market share in Europe.
Phase One trade deal provisions were extended, maintaining reduced tariffs for specific goods in this category to stabilize bilateral trade.
January 2023
Stable trade flows between the two largest players, benefiting exporters and importers in both countries.
Several importing countries introduced mandatory sustainability certifications for products in this price range, aligning with global environmental goals.
July 2022
Smaller exporters may struggle with compliance costs, while larger producers gain competitive advantage.