HS Code:
The category 'Without read-write unit assembled therein; read-write units entered separately' typically falls under HS Code 8471.70, which includes storage units for automatic data processing machines, such as hard disk drives, solid-state drives, and other memory units that do not have integrated read-write mechanisms or where such units are imported separately. This category is critical in the tech industry, supporting data storage needs across consumer electronics, enterprise solutions, and cloud computing infrastructures.
Total Trade Volume
USD 45.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 12.5 billion
27.7% of total trade of total trade
Increasing
USD 8.3 billion
18.4% of total trade of total trade
Stable
USD 5.1 billion
11.3% of total trade of total trade
Increasing
USD 4.7 billion
10.4% of total trade of total trade
Increasing
USD 3.2 billion
7.1% of total trade of total trade
Stable
Average Rate
3.5%
Highest Rate
8% (applied by certain developing countries under WTO rules)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rising demand for high-capacity storage due to cloud computing growth
Increased trade volumes, particularly for SSDs and enterprise-grade storage solutions, driving export growth from tech hubs like Singapore and South Korea.
2021-2022
Shift towards solid-state drives (SSDs) over traditional hard disk drives (HDDs)
Decline in HDD trade share, with manufacturers in China and South Korea pivoting to SSD production, affecting global supply chains.
2020-2022
Supply chain disruptions due to geopolitical tensions and pandemics
Temporary trade volume drops and price increases due to shortages of semiconductor components critical for storage units.
2020-2021
The agreement included provisions to reduce tariffs on tech components, including storage units, fostering smoother trade flows between the two largest players in this category.
January 2023
Expected to stabilize trade volumes and reduce costs for US importers, potentially increasing China's export share.
New sustainability regulations under the EU Green Deal mandate stricter recycling and energy efficiency standards for imported storage units.
March 2023
Manufacturers may face higher compliance costs, potentially reducing trade volumes to the EU or increasing prices for consumers.
South Korea announced a $450 billion investment in semiconductor and storage technology to boost domestic production and exports by 2030.
May 2022
Likely to increase South Korea's share in global trade for storage units, challenging competitors like China and Singapore.