Market Insights
04-12-2024
The electronics industry remains one of the most dynamic sectors in global trade. As demand for electronic devices and components continues to grow, import-export data can provide valuable insights into the key products driving international trade. In 2024, the following HS codes for electronic devices stand out as the top categories for global trade. These HS codes represent some of the most traded electronic goods and parts, highlighting key trends in global electronics imports.
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1. HS Code 85423900 – Electronic Integrated Circuits (Excluding Microprocessors, Controllers, Memory Devices, and Amplifiers)
Import Value: $199.06 Billion (26.89% of total electronics imports)
This HS code for electronic integrated circuits tops the list, as these components are essential in nearly all modern electronic devices. These circuits play a central role in systems like communication devices, computers, and consumer electronics. The exclusion of microprocessors, controllers, memory devices, and amplifiers signifies the variety of other circuits that are traded globally. The growing adoption of AI, IoT, and 5G technologies is driving demand for these electronic components, making them one of the highest traded HS codes worldwide.
2. HS Code 85429000 – Parts of Electronic Integrated Circuits, N.E.S.
Import Value: $82.84 Billion (11.19% of total electronics imports)
This HS code for electronic parts represents various components used in electronic integrated circuits, excluding specific items like microprocessors and memory devices. The high import value reflects the growing need for specialized parts, which are used to assemble and repair integrated circuits for consumer electronics, telecommunications equipment, and automotive electronics. The demand for these parts continues to increase as the global electronic devices market expands.
3. HS Code 85444929 – Electrical Conductors (Without Connectors, for Voltages of 80V to 1000V)
Import Value: $65.91 Billion (8.9% of total electronics imports)
HS code for electronic conductors, such as cables and wires, is essential for a wide range of applications in electronic devices. This category focuses on conductors used in applications requiring a voltage range between 80V and 1000V, often for industrial, commercial, and residential electronics. The significant trade in electrical conductors highlights the growth of infrastructure development and the expanding demand for electronic devices globally.
4. HS Code 85414100 – Light-Emitting Diodes (LEDs)
Import Value: $57.71 Billion (7.8% of total electronics imports)
Light-emitting diodes (LEDs) have become a cornerstone of modern lighting and display technology. Their high efficiency, long lifespan, and energy-saving properties make them a preferred choice for everything from televisions and smartphones to automotive lighting and streetlights. As consumer demand for energy-efficient products continues to rise, the global trade in HS code for electronic LEDs is expected to grow significantly in the coming years.
5. HS Code 85423200 – Electronic Integrated Circuits as Memories
Import Value: $49.07 Billion (6.63% of total electronics imports)
HS code for electronic memory chips are fundamental to nearly all modern electronics, from smartphones and laptops to gaming consoles and data centers. This category includes memory modules such as DRAM (dynamic random-access memory) and flash memory, which are essential for data storage and processing. The rise of cloud computing, big data, and high-performance computing has led to increased global trade in memory circuits.
6. HS Code 85444299 – Other Electrical Conductors, Fitted with Connectors, Used in Telecommunications
Import Value: $48.96 Billion (6.61% of total electronics imports)
Telecommunications equipment requires specialized conductors and connectors, which are crucial for transmitting data in networks. These conductors are used in a variety of devices, including mobile phones, routers, and other networking infrastructure. With the expansion of 5G networks and the ongoing global digital transformation, the demand for HS code for electronic components in telecommunications is expected to remain high.
7. HS Code 85423100 – Electronic Integrated Circuits as Processors and Controllers
Import Value: $44.86 Billion (6.06% of total electronics imports)
Processors and controllers are integral components of almost every electronic device. These chips are used to manage and direct operations within devices, ranging from personal computers and smartphones to industrial machinery. With the increasing complexity of consumer electronics, processors and controllers have become essential, resulting in substantial global trade in this HS code for electronic category.
8. HS Code 84501190 – Household Machinery; Parts Thereof – Full-Automatic Washing Machines (Excluding Those Powered by Motor)
Import Value: $29.84 Billion (4.03% of total electronics imports)
This HS code for electronic appliances includes parts and machinery for full-automatic washing machines with a linen capacity not exceeding 10 kg. As consumer demand for home appliances continues to grow, especially in developing markets, the import value of washing machines and their parts remains high. The rise of smart appliances, including connected washing machines, further supports this trend.
9. HS Code 76169990 – Other Aluminium Articles, Not for Technical Use
Import Value: $21.34 Billion (2.88% of total electronics imports)
This HS code for electronic aluminum articles includes non-technical aluminum components, which are often used in the construction of various consumer electronic products. While not specifically designed for technical applications, these aluminum components are used in a variety of devices and gadgets, including housing for smartphones, laptops, and other consumer electronics.
10. HS Code 85444922 – Electric Conductors, for Voltages <= 1000V, Insulated, Not Fitted with Connectors
Import Value: $18.33 Billion (2.88% of total electronics imports)
Insulated electric conductors, such as cables and wires, play a key role in powering electronic devices. This category focuses on wires and cables used in low-voltage applications, which are widely used in consumer electronics and household appliances. The demand for these components is expected to grow alongside the increasing use of electronic devices across the globe.
Conclusion
The global electronics market in 2024 is characterized by a strong demand for integrated circuits, memory components, and electrical conductors, which are the backbone of modern electronic devices. As consumer electronics, telecommunications, and infrastructure projects continue to evolve, these top HS codes for electronic devices reflect the vital components that drive global trade in electronics. Understanding these key products and their trade volumes provides valuable insight into the state of the electronic industry and the trends that will shape its future.
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