HS Code:
The 'Valued over 80ยข but not over $1.35/gross' category typically pertains to specific goods under the Harmonized System (HS) Code framework, often associated with low to mid-value items such as certain types of apparel, accessories, or small manufactured goods. This price range indicates products that are generally mass-produced and targeted at cost-conscious consumers globally. The category is significant in international trade due to its high volume and wide market reach, often involving developing economies as key exporters and developed economies as primary importers. Trade in this category is sensitive to tariff changes, currency fluctuations, and labor cost variations.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$4.8 billion USD
38.4% of total trade of total trade
Increasing
$2.1 billion USD
16.8% of total trade of total trade
Increasing
$1.5 billion USD
12.0% of total trade of total trade
Stable
$1.2 billion USD
9.6% of total trade of total trade
Increasing
$0.9 billion USD
7.2% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
15% (applied by certain developed markets for protective measures)
Lowest Rate
0% (under free trade agreements or preferential trade programs like GSP)
Shift towards sustainable production
Increasing demand for eco-friendly materials and ethical labor practices is pushing exporters to adapt, potentially increasing costs but opening premium market segments.
2021-2022
Rise of e-commerce
Direct-to-consumer models are boosting trade volumes in this category as small-scale transactions become more common, benefiting countries with robust logistics networks.
2020-2022
Supply chain diversification
Importers are reducing reliance on single-country sourcing (e.g., China) due to geopolitical risks, benefiting secondary exporters like Vietnam and Bangladesh.
2019-2022
Phase One trade deal adjustments have reduced tariffs on select goods in this category, providing temporary relief to Chinese exporters.
January 2023
Expected to maintain China's dominance in trade volume for the short term, though long-term diversification continues.
New EU regulations mandate stricter environmental compliance for imported goods in this price range, requiring exporters to certify sustainable practices.
March 2023
May increase production costs for exporters but could improve market access for compliant countries like Bangladesh.
Negotiations for a bilateral trade agreement have advanced, potentially lowering tariffs for Vietnamese goods in this category.
June 2023
Likely to accelerate Vietnam's trade volume growth, challenging other regional competitors.