HS Code:
The 'Valued not over $2.38/liter' category typically pertains to specific liquid products, often beverages such as wine or other alcoholic beverages, classified under the Harmonized System (HS) Code structure. This category is used to differentiate products based on their value per liter for tariff and trade purposes. It is widely traded globally, with significant volumes moving between countries due to variations in production costs, quality, and consumer demand. Trade in this category is influenced by regional trade agreements, tariff barriers, and consumer preferences for affordable products.
Total Trade Volume
$1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$350 million USD
29.2% of total trade of total trade
Increasing
$280 million USD
23.3% of total trade of total trade
Stable
$200 million USD
16.7% of total trade of total trade
Increasing
$120 million USD
10.0% of total trade of total trade
Increasing
$90 million USD
7.5% of total trade of total trade
Stable
Average Rate
12.5%
Highest Rate
25% (applied by certain Asian markets)
Lowest Rate
0% (under EU free trade agreements)
Rising demand for affordable wines in emerging markets
Increased export opportunities for producing countries, particularly in Asia and Africa
2021-2022
Shift towards sustainable and organic production
Higher production costs but growing niche market appeal in developed economies
2020-2022
Impact of global supply chain disruptions
Delays in shipping and higher logistics costs affecting trade volumes
2021-2022
The European Union signed a new trade agreement with several South American countries, reducing tariffs on wines valued not over $2.38/liter to 0% over a phased period.
June 2023
Expected to boost exports from Chile and Argentina to EU markets by 15% over the next five years.
China introduced stricter import quotas on low-value alcoholic beverages to protect domestic producers, affecting the 'Valued not over $2.38/liter' category.
March 2023
Potential reduction in export volumes to China by 10-20% for key exporters like Italy and Spain.
Several key importing countries in North America and Europe have introduced mandatory sustainability certifications for products in this category.
January 2023
Increased compliance costs for exporters, but potential for premium pricing in eco-conscious markets.