HS Code:
The 'Valued less than 8¢/liter' category typically includes low-cost liquid products, often encompassing certain types of beverages, chemicals, or other bulk liquids traded internationally. This category falls under specific HS Codes depending on the exact product (e.g., HS 2202 for non-alcoholic beverages or HS 2710 for certain petroleum products). These products are generally characterized by high volume and low per-unit cost, making them sensitive to transportation costs and trade barriers. They are often traded in large quantities between countries with established supply chains or regional trade agreements.
Total Trade Volume
Approximately $5.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$1.1 billion USD
21.2% of total trade of total trade
Increasing
$850 million USD
16.3% of total trade of total trade
Stable
$600 million USD
11.5% of total trade of total trade
Increasing
$450 million USD
8.7% of total trade of total trade
Decreasing
$400 million USD
7.7% of total trade of total trade
Stable
Average Rate
5.3% ad valorem
Highest Rate
12% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand for low-cost beverages in emerging markets
Increased export opportunities for producing countries, especially in Latin America and Asia
2021-2022
Shift towards sustainable packaging
Higher compliance costs for exporters due to environmental regulations in importing countries
2022
Fluctuations in global shipping costs
Significant impact on profit margins due to the high-volume, low-value nature of products
2020-2022
Under the USMCA agreement, tariffs for this category between the US, Mexico, and Canada have been reduced to 0% for qualifying products, boosting trade volumes.
January 2023
Expected increase in North American trade by 10-15% over the next two years.
The European Union introduced new regulations requiring sustainable packaging for liquid products, affecting exporters in this category.
July 2022
Potential cost increases for non-EU exporters; may reduce competitiveness in the short term.
Brazil implemented a temporary tax rebate for exporters of low-value liquids to stimulate trade amidst economic challenges.
March 2023
Likely to bolster Brazilian exports, potentially increasing market share in South America.