The World Customs Organization administers and develops the international goods nomenclature known as the Harmonized System, which enables products to be identified by the same code all over the world. Every five years the WCO HS committee issues amendments to the HS nomenclature.
The WCO has published the accepted amendments to the Harmonized System Nomenclature effective January 1, 2017. There are 233 sets of amendments which include some text amendments, certain new chapter notes, more speci c product de- tails and the addition of new subheadings.
• Wood sector: chapter 40, 42, 44 forestry products, wood species, bamboo prod- ucts, rattan products, tropical wood and non-tropical wood amendment
• Paper sector: chapter 48 newsprint.
Madison’s has adjusted the data feeds to our monthly VOLUMES and VALUES graphs to reflect this new global standardization.