HS Code:
The 'Valued less than 22.5ยข/kg' category typically includes low-value bulk commodities or raw materials under specific Harmonized System (HS) codes. These products are often basic agricultural goods, unprocessed minerals, or other primary materials that have minimal processing and are traded in large volumes globally. Due to their low unit value, these goods are highly sensitive to transportation costs, tariffs, and trade policies. This category is critical for developing economies that rely on exporting raw materials as a significant portion of their trade revenue.
Total Trade Volume
USD 15.7 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
20.4% of total trade
Increasing
USD 2.8 billion
17.8% of total trade
Stable
USD 1.9 billion
12.1% of total trade
Increasing
USD 1.5 billion
9.6% of total trade
Increasing
USD 1.1 billion
7.0% of total trade
Stable
Average Rate
5.2%
Highest Rate
15% (applied by certain Asian markets)
Lowest Rate
0% (under free trade agreements like RCEP)
Rising demand for raw materials in industrializing economies
Increased export volumes from resource-rich countries, particularly in Asia and Africa, driving up trade in this category
2021-2022
Shift towards sustainable sourcing
Buyers are increasingly prioritizing environmentally friendly production methods, affecting supplier selection and pricing
2022
Fluctuations in global commodity prices
Price volatility affects trade volumes and profitability for exporters, with some countries imposing temporary export bans
2020-2022
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs on low-value commodities for member countries, boosting trade volumes in this category.
January 2022
Expected to increase trade by 10-15% among RCEP countries over the next 5 years.
Certain countries have imposed temporary export restrictions on low-value raw materials to stabilize domestic supply amidst global price surges.
March 2022
Short-term supply chain disruptions for importing nations, leading to price increases.
Major importing regions like the EU have introduced stricter sustainability certification requirements for low-value agricultural and mineral products.
July 2023
Smaller exporters may face market access challenges, while larger players invest in compliance.