How to analyse imports of a product by HS code

To analyse imports of a product, first find its exact HS code, then look at one country and one period: how much is imported and whether it is growing, from which countries, how many companies import and supply it, how concentrated the market is and at what prices per kilogram it comes in. Official statistics give you the size of the market; foreign trade shipment data adds the companies, prices and terms behind those numbers.

Step 1. Find the right code

The HS code (Harmonized System) is the international product code used in foreign trade. It is built from the general to the specific:

• 2 digits: the chapter, for example 85, electrical machinery and equipment;
• 4 digits: the heading, for example 8534, printed circuits;
• 6 digits: the subheading. Up to this level the code is the same in almost every country;
• 8 to 12 digits: national codes. Each country adds its own digits, so the same product has different full codes in different countries.

Practical advice:

1. Take the code from your own shipping documents or from the national tariff of the country you are analysing.
2. If you only know the product, describe it in words in the code field on the Analyze markets by product page and, after free sign-in, the site will suggest matching codes.
3. Read the code description in full. Many codes end with "other", which can mix very different goods.
4. Check which edition of the HS is used. The current one is HS 2022; codes change between editions, so if you compare many years, you may need to match old and new codes.

Step 2. Choose the right data source

Two kinds of data answer different questions.

If you only need to know whether a country buys your product at all and roughly how much, official statistics are enough. If you need to know whom to sell to, whom to buy from or what price to quote, you need shipment data.

A good analysis uses both: statistics to see the size of the market across many countries, shipment data to understand who buys, who supplies and at what price in the countries you care about.

Step 3. Set the country, direction and period

An import analysis always answers a narrow question: one product, one country, one period. On Orion Markets the Analyze markets by product form asks for exactly this: the country, the direction (import or export), the period and the HS code. You can also start from the Ready-made research catalog: more than 4,300 reports for 13 countries.

Choose the period carefully. One month is enough to see who the players are. For trends and seasonality you need at least a full year, ideally several. Data depth differs by country: for Russia shipment data goes back to 2012, for Kazakhstan to April 2021, for Uzbekistan to 2022, and for several countries added recently only to 2025 or 2026. The current periods are on the data coverage page.

Step 4. Read the market in six questions

1. How big is it, and is it growing? Look at value, weight and the number of shipments by month and year. Weight often tells you more than value: value rises with prices even when demand stays flat.
2. Where does it come from? The share of each supplier country. If one or two countries supply most of the market, check whether that is about price, distance or trade agreements that give them lower duties.
3. Who imports and who supplies? The number of importers and foreign suppliers, and the share of the largest ones. Many small importers means many potential customers; a handful of large ones means each deal matters more.
4. How concentrated is it? The HHI index (Herfindahl–Hirschman index) adds up the squares of the companies' market shares. It runs from 0 to 10,000: the higher the number, the more a few companies control the market and the harder it is for a newcomer.
5. At what prices? The price per kilogram and how widely it varies. A wide spread usually means different quality grades are mixed under one code; compare like with like before you draw conclusions.
6. When and on what terms? Monthly patterns show the peak and low season. Delivery terms (Incoterms such as FOB or CIF) and payment currencies show how the market usually buys.

Example: printed circuit boards imported into Vietnam

The free sample report printed circuit boards, imports into Vietnam covers HS heading 8534 under two Vietnamese national codes, 85340030 and 85340090, for January to June 2026. It shows:

• 252,329 foreign trade shipments in six months, about 1,400 a day, so goods arrive constantly;
• 996 importers in Vietnam and 2,215 foreign suppliers, so supply is spread across many companies;
• main partner countries by share of trade value: Singapore 27.1%, Taiwan 26%, Hong Kong 16.1%, South Korea 11% and China 5.8%.

How to read it: the three largest partner countries together account for about 69% of value, and all of them are Asian centres of electronics production and trade. A new supplier from outside the region would compete with an established regional supply chain and should look closely at prices per kilogram and delivery terms in the full report. With 996 importers there is no shortage of potential customers; the question is which of them buy the board types you make.

Sample reports like this one open in full to registered users at no cost. For other reports, shares, percentages, trends and the number of companies are visible right away; amounts, volumes and prices open with a plan, and the report then stays in your account and keeps updating while the plan is active.

Common mistakes

• Too broad a code. Analysing a 4-digit heading when you sell one specific product mixes your market with others. Go down to 6 digits and then to the national codes that match your product.
• Comparing different units. Some goods are recorded by weight, others in pieces or litres. Compare prices only in the same unit.
• Ignoring intermediary countries. Goods often arrive through Singapore, Hong Kong, the UAE or Panama. The partner country is then the country the goods passed through, not the one where they were made.
• Drawing trends from a short period. Two or three months can show a seasonal peak, not growth.
• Taking one large importer for the market. Sometimes a single company accounts for half of all imports. If it already has a supplier, the market that is actually open to you is much smaller than the total. Check the shares of the largest importers before you count the market size.
• Forgetting the time lag. The latest available month differs by country, so compare the same months across years.

From analysis to action

• If you import, use the analysis to see who supplies the market and at what price, then build a supplier shortlist in Find suppliers.
• If you export, compare countries for your code and price in Find new export markets, then find importers in Find buyers.
• If you are checking a specific company you found in the data, open its profile in Company profiles.

To start, open a free sample report or enter your code on the Analyze markets by product page.