HS Code:
The 'Valued less than 15.75ยข/kg' category typically includes low-value bulk commodities or raw materials under specific Harmonized System (HS) codes. These products are often basic agricultural goods, industrial inputs, or scrap materials that have minimal processing. Due to their low per-unit value, trade in this category is driven by volume rather than price, and they are often subject to specific tariffs or quotas depending on the country of origin and destination. This category is critical in global supply chains for industries requiring inexpensive raw inputs.
Total Trade Volume
Approximately $10.3 billion USD
Data from 2022
Source
United Nations Comtrade Database
$2.1 billion USD
20.4% of total trade of total trade
Increasing
$1.5 billion USD
14.6% of total trade of total trade
Stable
$1.2 billion USD
11.7% of total trade of total trade
Increasing
$900 million USD
8.7% of total trade of total trade
Decreasing
$750 million USD
7.3% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing nations to protect domestic industries)
Lowest Rate
0% (under free trade agreements or for least developed countries)
Rising demand for low-cost raw materials in emerging economies
Increased export volumes from resource-rich countries to industrial hubs in Asia and Africa
2021-2022
Shift towards sustainable sourcing
Pressure on exporters to comply with environmental standards, potentially increasing costs even for low-value goods
2020-2022
Fluctuations in global shipping costs
Significant impact on profitability due to the high-volume, low-value nature of goods, with rising freight rates squeezing margins
2021-2023
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs for low-value commodities among member states, boosting trade volumes in this category.
January 1, 2022
Expected to increase trade by 10-15% among RCEP countries over the next five years.
Certain countries have imposed temporary export bans on low-value raw materials to secure domestic supply amid global shortages.
March 15, 2023
Short-term price spikes and supply chain disruptions for importing nations.
The European Union has introduced stricter sustainability certification requirements for imports in this category to combat environmental degradation.
July 1, 2023
Potential market access barriers for non-compliant exporters, particularly from developing countries.