Palm Oil in China 2020 Exports | Imports : $21.3M | $3.66B, World Rnk 36 / 140 Rnk 1005 / 1215 | World Rnk 2 / 202 Rnk 74 / 1214
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $981k | $274M, Hong Kong | Malaysia
2020 ECONOMIC COMPLEXITY of China: 0.96, Rnk 28 / 127
2020 PRODUCT COMPLEXITY IN Palm Oil: -2.13, Rnk 1013 / 1029
Exports In 2020, China exported $21.3M in Palm Oil, making it the 36th largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 1005th most exported product in China. The main destination of Palm Oil exports from China are: North Korea ($12.4M), Hong Kong ($4.36M), Mongolia ($2.56M), Serbia ($619k), and Canada ($174k).
The fastest growing export markets for Palm Oil of China between 2019 and 2020 were Hong Kong ($981k), Serbia ($598k), and Canada ($165k).
Imports In 2020, China imported $3.66B in Palm Oil, becoming the 2nd largest importer of Palm Oil in the world. At the same year, Palm Oil was the 74th most imported product in China. China imports Palm Oil primarily from: Indonesia ($2.47B), Malaysia ($1.18B), Papua New Guinea ($6.23M), Cambodia ($3.77M), and Thailand ($3.18M).
The fastest growing import markets in Palm Oil for China between 2019 and 2020 were Malaysia ($274M), Cambodia ($3.44M), and Papua New Guinea ($1.27M).
Tariffs In 2018, the average tariff for China in Palm Oil was 8.6%. The countries with the highest import tariffs for Palm Oil were Angola (Most Favoured Nation duty rate treatement, 8.6%), Burundi (Most Favoured Nation duty rate treatement, 8.6%), Benin (Most Favoured Nation duty rate treatement, 8.6%), Burkina Faso (Most Favoured Nation duty rate treatement, 8.6%), and Botswana (Most Favoured Nation duty rate treatement, 8.6%).
December 2022
Overview In December 2022 China's Palm Oil exports accounted up to $687k and imports accounted up to $524M, resulting in a negative trade balance of $523M. Between December 2021 and December 2022 the exports of China's Palm Oil have decreased by $-1.54M (-69.1%) from $2.23M to $687k, while imports decreased by $-139M (-20.9%) from $662M to $524M.
Destinations In December 2022, Palm Oil were exported mostly to Hong Kong ($504k) and North Korea ($184k), and were imported mostly from Indonesia ($373M), Malaysia ($150M), Taiwan ($252k), Thailand ($114k), and Brazil ($2.29k).
Growth In December 2022, the decrease in Palm Oil's year-by-year exports was explained primarily by a decrease in exports to Mongolia ($-584k or -96.1%). In December 2022, the decrease in Palm Oil's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-316M or -73.7%) and Malaysia ($-23.6M or -21.8%).
EXPORT GROWTH (December 2021 - December 2022): $-1.54M, (-69.1%)
IMPORT GROWTH (December 2021 - December 2022): $-139M, (-20.9%)
MAIN EXPORTER (December 2022): Guangdong Province, $504k
MAIN DESTINATION (December 2022): Hong Kong, $504k
This section shows Palm Oil's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Palm Oil over time.
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EXPORTS (2020): $21.3M
IMPORTS (2020): $3.66B
NET TRADE (2020): -$3.64B
In 2020, China exported $21.3M in Palm Oil. The main destinations of China exports on Palm Oil were North Korea ($12.4M), Hong Kong ($4.36M), Mongolia ($2.56M), Serbia ($619k), and Canada ($174k).
In 2020, China imported $3.66B in Palm Oil, mainly from Indonesia ($2.47B), Malaysia ($1.18B), Papua New Guinea ($6.23M), Cambodia ($3.77M), and Thailand ($3.18M).
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY China WERE (2019 - 2020):
In 2020, China's main exporting competitors in Palm Oil were:
In 2020, China's main importing competitors in Palm Oil were:
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