What is HS Code?
In industry classification systems, Harmonized System (HS) Codes are commonly used throughout the export process for goods. The HS is a standardized numerical method of classifying traded products. It is used by customs authorities around the world to identify products when assessing duties and taxes and for gathering statistics.
The HS is administrated by the World Customs Organization (WCO) and is updated every five years. The HS assigns specific six-digit codes for varying classifications and commodities. Countries are allowed to add longer codes to the first six digits for further classification.
How can we use the HS Code?
You use it to:
Classify physical goods for shipment to a foreign country;
Report shipments in the Automated Export System (AES) when the value is more than $2,500, or the item requires a license.
Complete required shipping documentation such as shipper’s letter of instructions, commercial invoice, or certificate of origin;
Determine import tariff (duty) rates and figure out if a product qualifies for a preferential tariff under a free trade agreement.
Conduct market research and obtain trade statistics.
If you are in Vietnam, you can search the HS Code through the website https://www.vietnamtrades.com
Vietnam is a country located in the south-east of Asia. Vietnam Export Data contains statistics and shipment details of companies who supply goods from the country. It also contains information on traded commodities and trading partners of those companies.
Trade data of Vietnam export can be analyzed on the basis of:
- Company – Vietnamese suppliers and overseas importers.
- Month – Compare the market of previous months with the current month as data is updated every month.
- Product – Evaluate the product and its specifications like brand, model, type, etc. as the actual product description is covered in the data.
- HS Code – Get shipment details up to 8 digit level HS Code.
- Year – Compare Vietnam’s export values of the current year from the previous years as historical data is available from 2010.
- Transport Modes – Sea, air, and land shipments are covered in data.
Vietnam trade data is collected from the most authentic sources such as Vietnamese Customs, Shipping & Logistics Companies, Port Authorities, Government Bodies, and so on.
