The Harmonized System Nomenclature ("HS Nomenclature"), developed by the World Customs Organization (WCO), sets the global standard for the classification of internationally traded goods. The HS Nomenclature, which globally harmonizes HS codes at the six-digit level, determines customs tariffs, allows for the collection of trade statistics, and supports governments in regulating the international trade of goods.
The HS Nomenclature is updated every five years. The latest round of updates came into effect on 1 January 2022, introducing a total of 351 sets of amendments covering a wide range of goods, such as items in the agricultural, chemical, machinery and transport sectors. The amendments seek to address changes in trade patterns and new categories of products developed over the past five years.
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