HS Code:
The 'Valued over $1.05/liter' category typically pertains to high-value liquid products such as premium alcoholic beverages (e.g., wines, spirits) or specialized industrial liquids under specific HS codes (e.g., HS 2204 for wines or HS 2208 for spirits). This category represents a significant segment of global trade due to the premium pricing and demand for quality and branded products. Trade in this category is influenced by consumer preferences, cultural factors, and stringent regulatory frameworks including tariffs and import restrictions.
Total Trade Volume
Approximately $45 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO)
$12.5 billion USD
27.8% of total trade of total trade
Increasing
$8.3 billion USD
18.4% of total trade of total trade
Stable
$6.7 billion USD
14.9% of total trade of total trade
Increasing
$4.2 billion USD
9.3% of total trade of total trade
Stable
$3.1 billion USD
6.9% of total trade of total trade
Decreasing
Average Rate
15.2% ad valorem
Highest Rate
35% (applied by certain Asian markets)
Lowest Rate
0% (under free trade agreements like EU-US agreements for specific products)
Rising demand for premium wines and spirits in emerging markets
Increased exports to countries like China and India, driving growth for European producers
2021-2022
Shift towards sustainable and organic products
Producers adopting eco-friendly practices to meet consumer demand, influencing trade patterns
2020-2022
Impact of global supply chain disruptions
Delays in shipping and higher logistics costs affecting trade volumes temporarily
2021-2022
The EU and US agreed to suspend retaliatory tariffs on spirits and wines as part of broader trade negotiations, boosting transatlantic trade.
June 2021
Increased export volumes for EU producers to the US market, estimated at $500 million annually.
China imposed high tariffs on Australian wines valued over $1.05/liter due to geopolitical tensions, severely impacting Australian exports.
November 2020
Australian wine exports to China dropped by over 90%, redirecting trade to other markets like the UK and US.
Several Asian countries introduced stricter labeling requirements for imported alcoholic beverages to ensure consumer safety.
January 2023
Potential delays and increased compliance costs for exporters targeting Asian markets.