HS Code:
The Video Tape Recordings category, classified under HS Code 8523.29, includes magnetic tapes and other media used for recording video content. This category primarily encompasses video cassettes and other analog recording formats that were widely used before the advent of digital media. While the demand for video tape recordings has significantly declined due to the rise of digital storage and streaming technologies, niche markets still exist for archival purposes, retro enthusiasts, and specific industrial applications. Global trade in this category reflects a shrinking market with limited but steady demand in certain regions.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) reports
$12 million USD
24% of total trade of total trade
Decreasing
$10 million USD
20% of total trade of total trade
Stable
$8 million USD
16% of total trade of total trade
Decreasing
$5 million USD
10% of total trade of total trade
Stable
$4 million USD
8% of total trade of total trade
Decreasing
Average Rate
3.5% ad valorem
Highest Rate
8% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Decline in demand due to digital media
Significant reduction in trade volume as consumers and businesses transition to digital storage and streaming platforms.
2015-2022
Niche market growth for vintage collectors
Small but steady demand from collectors and retro enthusiasts sustains limited trade in specific regions.
2020-2022
Increased recycling initiatives
Environmental concerns lead to policies encouraging recycling of old tapes, affecting import/export of used products.
2021-2022
The European Union introduced stricter guidelines on the disposal and recycling of magnetic tapes to reduce environmental impact.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volume.
A small resurgence in VHS tape demand was reported in the US and Japan due to nostalgia-driven consumer behavior.
June 2022
Temporary spike in exports from Japan to the US, though overall market remains small.
New regional trade agreements in the Asia-Pacific region reduced tariffs on media recording products, including video tapes.
January 2023
Slight increase in trade volume among member countries, though impact limited by low overall demand.