HS Code:
The 'Valued less than 8.5ยข/liter' category typically includes low-cost liquid products, often encompassing certain types of beverages, chemicals, or other bulk liquids traded internationally under specific HS codes. These products are generally mass-produced and cater to price-sensitive markets. Trade in this category is influenced by factors such as production costs, transportation logistics, and regional demand for affordable goods. Due to the low value per unit, economies of scale play a critical role in profitability.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade
Increasing
USD 250 million
20.8% of total trade
Stable
USD 180 million
15% of total trade
Increasing
USD 120 million
10% of total trade
Decreasing
USD 100 million
8.3% of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like NAFTA/USMCA)
Rising demand in emerging markets
Increased export opportunities for low-cost producers, particularly in Asia and Latin America, due to growing populations and urbanization.
2021-2022
Shift towards sustainable packaging
Pressure on exporters to adopt eco-friendly packaging solutions, increasing production costs but appealing to environmentally conscious markets.
2020-2022
Fluctuating raw material costs
Volatility in input prices has squeezed margins for producers, leading to regional supply chain adjustments.
2022
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs for low-value liquid products among member countries, boosting trade volumes.
January 2022
Expected to increase trade by 10-15% among member nations over the next 5 years.
The European Union introduced stricter safety and quality regulations for imported liquids valued under 8.5ยข/liter, requiring additional certifications.
March 2023
Potential delays and increased costs for exporters targeting the EU market.
The US initiated an investigation into alleged dumping of low-value liquid products by certain Asian countries, which may lead to new tariffs.
July 2023
Could result in higher prices and reduced competitiveness for affected exporters.