HS Code:
The category of wood marquetry and inlaid wood; caskets and cases for jewelry or cutlery and similar articles, of wood; statuettes and other ornaments, of wood; wooden articles of furniture not falling within Chapter 94 (HS Code: 4420) includes a variety of decorative and functional wooden products. These items are often handcrafted or require specialized skills for intricate designs such as marquetry (decorative patterns made from wood veneers) and inlaid work. This category also covers wooden boxes, cases, and caskets used for storing jewelry or cutlery, as well as ornamental statuettes and other decorative wooden articles. These products are widely used in home decor, gift markets, and personal storage solutions. Global trade in this category is driven by demand for artisanal and sustainable products, with significant contributions from countries with rich traditions in woodworking and craftsmanship.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (imposed by certain developing countries to protect local artisans)
Lowest Rate
0% (under free trade agreements like EU-Vietnam FTA)
Growing demand for sustainable and eco-friendly products
Increased preference for certified wood products has boosted exports from countries with strong sustainability regulations like Vietnam and Indonesia.
2021-2022
Rise in e-commerce platforms for artisanal goods
Small-scale producers and exporters, particularly from India and Vietnam, have gained access to global markets through platforms like Etsy and Amazon, driving trade volume.
2020-2022
Shift toward customized and luxury wooden decor
Higher demand for bespoke marquetry and inlaid wood products in premium markets like the EU and the US, benefiting exporters like Italy.
2019-2022
The European Union has introduced new regulations under the EU Deforestation Regulation (EUDR) requiring all wood products to be traceable to prevent deforestation, affecting exporters to the EU market.
June 2023
Exporters from countries like Indonesia and Vietnam may face higher compliance costs, but those with established certification systems could gain a competitive edge.
Ongoing trade tensions have led to additional tariffs on Chinese wooden products, prompting buyers to shift sourcing to Vietnam and India.
March 2023
Diversification of supply chains has benefited Southeast Asian and South Asian exporters while challenging Chinese manufacturers.
Vietnam's participation in trade agreements like the CPTPP and EVFTA has reduced tariffs on wooden products, boosting its export competitiveness.
January 2023
Increased market access for Vietnamese exporters, particularly in the EU and Asia-Pacific regions, driving trade volume growth.