HS Code:
The category 'Valued over $0.30 but not over $3 each' typically includes low to medium-cost consumer goods and accessories under specific Harmonized System (HS) codes. These products often encompass items such as basic apparel accessories, small household goods, toys, or miscellaneous manufactured articles that fall within this price range. This category is significant in global trade due to its high volume and widespread demand in both developed and developing markets. Trade in this category is influenced by factors such as manufacturing costs, labor availability, and consumer purchasing power.
Total Trade Volume
$15.7 billion USD
Data from 2022
Source
United Nations Comtrade Database
$6.2 billion USD
39.5% of total trade of total trade
Increasing
$2.1 billion USD
13.4% of total trade of total trade
Increasing
$1.5 billion USD
9.6% of total trade of total trade
Stable
$1.0 billion USD
6.4% of total trade of total trade
Increasing
$0.8 billion USD
5.1% of total trade of total trade
Stable
Average Rate
7.5%
Highest Rate
25% (imposed by certain countries on specific goods for protectionist measures)
Lowest Rate
0% (under free trade agreements like USMCA or EU preferential trade schemes)
Shift to sustainable materials
Increased demand for eco-friendly products in this price range, pushing manufacturers to adopt greener practices despite cost pressures.
2021-2022
E-commerce growth
Significant rise in direct-to-consumer sales for low-cost items, boosting trade volumes through online platforms like Amazon and Alibaba.
2020-2022
Supply chain diversification
Countries like Vietnam and Bangladesh are gaining market share as companies move away from over-reliance on Chinese manufacturing.
2019-2022
The United States imposed additional tariffs on certain low-cost imports from China under Section 301, citing unfair trade practices.
September 2022
Increased costs for US importers, potentially shifting sourcing to other countries like Vietnam or India.
The European Union introduced stricter regulations on product sustainability and labor conditions for low-cost imports.
March 2023
Manufacturers in exporting countries must adapt to compliance requirements, which may raise production costs but improve market access.
Vietnam signed new trade agreements with the EU and UK, reducing tariffs on low-cost goods in this category.
January 2023
Enhanced competitiveness of Vietnamese exports, likely increasing their market share in Western markets.