HS Code:
The 'Valued less than 5.75ยข/liter' category typically pertains to low-cost liquid products, often including certain types of beverages, chemicals, or other bulk liquids under specific HS Codes (exact code not provided). This category is significant in global trade due to its high volume and low per-unit cost, often associated with essential goods or raw materials. Trade in this category is influenced by factors such as production costs, transportation logistics, and tariff barriers in importing countries. It is commonly traded in bulk quantities, making it a critical component of supply chains in industries like food and beverage, agriculture, and manufacturing.
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
$1.9 billion USD
15.2% of total trade of total trade
Increasing
$1.1 billion USD
8.8% of total trade of total trade
Increasing
$0.9 billion USD
7.2% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
15% (imposed by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or within regional blocs like ASEAN)
Shift towards sustainable sourcing
Increased demand for eco-friendly packaging and production methods, raising costs but improving market access in environmentally conscious regions like the EU.
2021-2022
Rising transportation costs
Global shipping disruptions and fuel price hikes have reduced profit margins for low-value, high-volume products, impacting trade competitiveness.
2022
Growth in emerging markets
Increased consumption in countries like India and Nigeria has boosted export opportunities for producers in Brazil and the US.
2020-2022
The European Union introduced a revised tariff structure for low-value liquids to curb imports from non-compliant environmental standards starting in mid-2023.
July 2023
Expected to reduce trade volume from non-EU countries by 10-15% unless producers adapt to stricter sustainability requirements.
A bilateral agreement between the US and Brazil was signed to reduce tariffs on bulk liquid exports, including products under this category.
March 2023
Likely to increase trade volume between the two countries by 20% over the next two years, strengthening their dominance in the market.
Ongoing disruptions in global shipping lanes and port congestions have delayed deliveries of low-value liquid goods, affecting supply chains worldwide.
Late 2022 - Early 2023
Temporary price spikes and reduced availability in import-dependent regions, prompting calls for localized production.