HS Code:
The 'Valued less than 44.75ยข/kg' category under the Harmonized System (HS) Code typically includes low-value bulk commodities or raw materials, such as certain agricultural products, minerals, or basic industrial goods. These products are often traded in large quantities due to their low unit price and are critical for industries requiring cost-effective inputs. This category is sensitive to global price fluctuations, transportation costs, and trade policies due to the slim profit margins associated with such low-value goods.
Total Trade Volume
Approximately $15.3 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
20.9% of total trade of total trade
Increasing
$2.8 billion USD
18.3% of total trade of total trade
Stable
$1.9 billion USD
12.4% of total trade of total trade
Increasing
$1.5 billion USD
9.8% of total trade of total trade
Decreasing
$1.2 billion USD
7.8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic markets)
Lowest Rate
0% (under free trade agreements or for Least Developed Countries under GSP schemes)
Rising demand in Asia-Pacific for low-cost raw materials
Increased export volumes from countries like Brazil and Indonesia to meet industrial needs in China and India
2021-2022
Fluctuating global commodity prices
Significant impact on trade profitability due to the low per-unit value, pushing exporters to optimize logistics
2020-2022
Sustainability concerns affecting trade policies
Growing pressure on exporters to adopt environmentally friendly practices, increasing costs for compliance
2022
Brazil and Argentina signed a bilateral agreement to reduce tariffs on low-value commodities, boosting trade in this category.
March 2023
Expected to increase trade volume by 10% between the two countries over the next two years.
India imposed temporary export restrictions on certain low-value agricultural products to ensure domestic food security amidst global supply chain disruptions.
July 2022
Led to a 5% drop in global trade volume for this category, redirecting demand to other exporters like Brazil.
Rising shipping costs and container shortages have disproportionately affected low-value goods due to tight profit margins.
October 2022
Reduced competitiveness of distant exporters like Australia in Asian markets.