HS Code:
The 'Valued over $2.05/liter' category typically pertains to high-value liquid products, often including premium alcoholic beverages such as fine wines, spirits, and liqueurs under specific HS Codes (e.g., parts of HS 2204 for wines or HS 2208 for spirits). This category represents a niche but significant segment of global trade, driven by demand for luxury and quality goods in both developed and emerging markets. Trade in this category is influenced by consumer preferences for premium brands, cultural factors, and disposable income levels, as well as stringent regulations and tariffs due to health, safety, and taxation concerns.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Reports
$8.5 billion USD
34% of total trade of total trade
Increasing
$4.2 billion USD
16.8% of total trade of total trade
Stable
$3.1 billion USD
12.4% of total trade of total trade
Increasing
$2.8 billion USD
11.2% of total trade of total trade
Stable
$1.9 billion USD
7.6% of total trade of total trade
Decreasing
Average Rate
15% ad valorem
Highest Rate
Up to 50% in certain markets (e.g., India due to excise duties and state-level taxes)
Lowest Rate
0-5% in free trade zones or under specific trade agreements (e.g., EU internal market)
Rising demand for premium and craft spirits
Increased exports from countries with strong branding in premium alcohol, such as Scotland (whisky) and France (cognac), with a shift in consumer preference towards quality over quantity.
2021-2022
Growth in e-commerce for luxury beverages
Facilitated cross-border trade, especially in Asia-Pacific markets like China and Singapore, where online platforms have boosted accessibility to high-value products.
2020-2022
Sustainability and organic labeling
Growing consumer interest in sustainable production has led to higher demand for organic wines and eco-friendly packaging, influencing trade patterns towards producers adopting green practices.
2022
The EU and US agreed to suspend retaliatory tariffs on certain alcoholic beverages, including high-value wines and spirits, as part of broader trade negotiations following the Boeing-Airbus dispute.
June 2021
Boosted trade volumes between the two regions, with an estimated increase of 10% in transatlantic exports of premium beverages.
China imposed heavy anti-dumping tariffs on Australian wines, significantly affecting the export of high-value products in this category to one of Australia's largest markets.
November 2020 - Ongoing
Led to a decline in Australian wine exports by over 40% to China, redirecting trade to other markets like the UK and US.
As global travel and hospitality sectors recover, demand for high-value beverages in duty-free shops and luxury venues has surged, driving trade growth.
Mid-2022
Increased trade volumes by approximately 8% in key tourist destinations and transit hubs.