HS Code:
The 'Valued less than 10ยข/kg' category typically includes low-value bulk commodities or waste materials under the Harmonized System (HS) Code classification. These products are often raw materials, scrap, or by-products with minimal processing, traded in large volumes for industrial or recycling purposes. Due to the low per-unit value, trade in this category is highly sensitive to transportation costs, tariffs, and regulatory restrictions. This category may encompass items such as certain types of scrap metal, waste paper, or low-grade agricultural by-products, depending on the specific HS code sub-category.
Total Trade Volume
Approximately $5.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$1.1 billion USD
21.2% of total trade of total trade
Increasing
$850 million USD
16.3% of total trade of total trade
Stable
$720 million USD
13.8% of total trade of total trade
Decreasing
$500 million USD
9.6% of total trade of total trade
Increasing
$400 million USD
7.7% of total trade of total trade
Stable
Average Rate
5.3% ad valorem
Highest Rate
12% (imposed by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements or for recycling initiatives)
Rising demand for recyclable materials
Increased trade volumes as countries prioritize circular economy practices, particularly in developed markets like the EU and North America.
2021-2022
Stricter environmental regulations
Reduced exports from countries unable to meet stringent waste management and quality standards, particularly affecting Asian exporters.
2020-2022
Fluctuating transportation costs
Higher shipping costs have disproportionately affected low-value goods, leading to regionalized trade patterns and reduced long-distance shipments.
2021-2023
China expanded its ban on importing certain low-value waste materials, redirecting trade flows to Southeast Asian countries and increasing processing costs for exporters.
January 2021
Significant decline in trade volume to China, with a shift towards markets like Vietnam and Thailand.
The European Union introduced new policies under its Circular Economy Action Plan, incentivizing the import of recyclable low-value materials with reduced tariffs.
March 2022
Increased trade volumes to EU countries, particularly for scrap and waste materials from North America.
The global shipping crisis led to a spike in container costs, heavily impacting the profitability of trading low-value goods like those in this category.
Mid-2021 to Early 2022
Temporary reduction in trade volumes, with a shift towards regional trade to minimize transportation costs.