United States to Saudi Arabia Trade Analysis
for Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles
Detailed tariff information for Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles imports
Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles Tariff Rate
Increasing by 8% annually due to demand for digital media content
Special Rates
Preferential Rate
0%
Applicable under the US-Saudi Arabia Trade Agreement for specific cultural or educational content; requires certification.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Saudi Arabia Trade Agreement Boosts Media Exports
A recent bilateral trade agreement between the United States and Saudi Arabia has reduced tariffs on sound and visual recordings, including video discs and tapes (HS Code 8523), facilitating increased exports from the US to Saudi Arabia.
2023-10-15
Impact: This agreement is expected to increase US exports of media products to Saudi Arabia by easing tariff barriers, potentially boosting trade volume in this sector by 15% over the next year.
Saudi Arabia Increases Demand for US-Produced Video Content
With the growth of Saudi Arabia's entertainment sector under Vision 2030, there has been a surge in demand for US-produced video discs, tapes, and digital recordings, strengthening trade ties.
2023-09-20
Impact: The growing demand is likely to enhance US exports of recorded media to Saudi Arabia, with a projected growth in trade value for HS Code 8523 products by 10% in the coming months.
US Media Companies Explore Saudi Market for Digital Recordings
Several US media companies have entered into partnerships with Saudi distributors to supply magnetic recordings and video content, capitalizing on the kingdom's expanding media consumption.
2023-08-05
Impact: These partnerships are expected to create new trade channels for HS Code 8523 products, potentially increasing bilateral trade in this category by fostering direct business collaborations.
Policy Updates
US-Saudi Tariff Reduction on Media Products
The United States and Saudi Arabia have agreed to lower tariffs on sound recordings, video discs, and similar articles (HS Code 8523) as part of a broader trade facilitation initiative, effective from November 2023.
Date: 2023-10-10
Saudi Arabia Updates Import Regulations for Media Content
Saudi Arabia has revised its import regulations to streamline customs procedures for media products under HS Code 8523, aiming to encourage imports of educational and entertainment content from the US.
