Commodity codes are standardised numerical identifiers assigned to specific goods for international trade purposes. Commodity codes are usually organised in hierarchical systems with increasing levels of detail. Typically, the first six digits (known as the Harmonized System (HS) code) provide a broad classification.
Commodity codes enable efficient classification, tracking, and taxation of goods crossing borders. Businesses use commodity codes to accurately declare the goods they import or export on customs documentation.
Whereas customs officials use commodity codes to identify and categorise goods, assess duties and taxes, and enforce trade regulations.
Using the correct commodity code is crucial for accuracy, compliance, trade facilitation and data analysis.The UK Trade Tariff Tool can be used to find commodity codes.
