The HS code (Harmonized System code) is a numerical code used internationally to classify trade products. Each product has a unique HS code. This helps in the process of identification and tracking of products as they pass through international borders. So, what is fiberglass yarn HS code?
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Get to Know Fiberglass Yarn HS Code
For fiberglass yarn, the exact HS code usually varies depending on the type of fiberglass yarn, how it is used, and its characteristics. For example, material composition, thread diameter, or special use. Each product will be classified under a section or chapter related to “Textiles and Textile Goods”, or “Glass Fiber”.
The HS code system itself was developed by the World Customs Organization (WCO). The aim is to facilitate the process of grouping, identifying and reporting products in international trade.
Basic Structure of HS Code
The general structure of the HS Code consists of a numeric code in the form of a 6-10 digit number. These numbers are grouped in several levels. Starting from a more general level to more specific. Each digit represents a specific product category and contains different information about that product. Starting from the type of product, material, use, and other characteristics.
The first through four numbers represent a broader product category, while the fifth and sixth numbers provide more detailed specifications. Some countries may also use additional codes to comply with national regulations or requirements.
For clarity, here is the basic structure of the HS code:
Chapter
The first three digits of the HS Code are the “chapter” which describes the general product category. There are a total of 21 chapters covering various economic sectors, such as Agriculture, Minerals, Chemicals, Plastics, Textiles, Metals, and so on.
Headings
The fourth and fifth digits indicate a more specific “heading” within the chapter category. It provides more details about the product type.
Subheadings
The sixth and seventh digits identify “subheadings” which provide more detail about the type and characteristics of the product.
HS Code
This is a complete code from 6 to 10 digits that includes all of the above information and provides a unique identification for the product.
HS Code and an Example of How to Read It
In broad terms, the HS Code for “Fiberglass yarn” in import-export activities is 7019. The number 70 is the numeric code for “Chapter” which refers to “ar glass fiber”. The reference indicates that the product in question is included in the “Glass and Glassware” sector in the international trade classification.
Then, the number 19 is the numerical code for “Heading” which refers to the “HS Code for Glass fibers (including glass wool) and articles thereof (for example, yarns, woven fabrics)”.
It doesn’t stop there, code 7019 can describe various fiberglass yarn products in even more detail.
For example, HS code 70191990 to indicate “Glass Fiber Cut Yarn”, HS code 70195900 to indicate “Ptfe Fiberglass Fabrics Sheet (0.25mm, 1000*1000mm)”, 70194000 to indicate “E-glass Fiber Woven Roving 800-1000 (Raw material For Fiberglass Products), net: 40kg/carton”, and so on.
Why is It Important to Understand Fiberglass Yarn HS Code?
Understanding the HS code has some significant importance. Especially in the context of international trade and logistics management. Here are some reasons.
Classification and Customs
The HS code helps classify “fiberglass yarn” into its proper category in the international trading system. This is important to determine the amount of import duties, taxes or tariffs that are imposed on the import and export of these products.
Calculation of Import and Export Costs
By understanding the HS code, you can accurately calculate the costs associated with the import or export of “fiberglass yarn.” This includes import duties, taxes, tariffs and other logistics costs.
Monitoring and Regulation
The government uses the HS code to monitor trade in certain products and apply relevant regulations. Understanding the HS code helps ensure compliance with applicable rules and requirements.
Selection of Proper Transportation and Storage
Knowing the HS code can help in the selection of transportation methods. In addition, as storage in accordance with the characteristics of “fiberglass yarn” and related regulations.
Reporting of Trade Statistics
The HS code is used in reporting international trade statistics. This data is important for analyzing trade trends and making business decisions.
Commercialization of Products
Understanding the HS code can help identify and market fiberglass yarn more effectively in the international market.
Regulatory and Standard Compliance
The HS code helps ensure that fiberglass yarn complies with applicable national and international standards and regulations.
Business Strategy Development
Understanding the HS code can assist in the development of business strategy, including supply chain management, cost estimation and risk analysis.
Due to its broad importance in international trade, understanding the proper fiberglass yarn HS Code is essential. To determine the appropriate HS Code, you can refer to official references, such as the HS classification issued by the customs authority in your country.
