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Animal or vegetable fats and oils and their cleavage products; prepared animal fats; animal or vegetable waxes

15 (Harmonized System 1992 for 2-digit)

2023
World Trade $170BRnk 25 / 96
2023
Top Exporter | Top Importer $37.8B | $17.5BIndonesia | China
2023
Product Complexity -1.11Rnk 85 / 96
2022 - 2023
Export Growth (CAGR) -16.4%Rnk 88 / 96
2023
Share of World Trade 0.75%Rnk 25 / 96

About

Overview This page contains the latest trade data of Animal or vegetable fats, oils, & waxes. In 2023, Animal or vegetable fats, oils, & waxes were the world's 25th most traded product, with a total trade of $170B. Between 2022 and 2023 the exports of Animal or vegetable fats, oils, & waxes decreased by -16.4%, from $204B to $170B. Trade in Animal or vegetable fats, oils, & waxes represent 0.75% of total world trade.

Animal or vegetable fats, oils, & waxes are a part of Animal and Vegetable Bi-Products. They include Palm Oil, Soybean Oil, Seed Oils, Stearic Acid, Pure Olive Oil, Rapeseed Oil, Coconut Oil, Margarine, Other Vegetable Oils, and Other Pure Vegetable Oils, among others.

Exports In 2023 the top exporters of Animal or vegetable fats, oils, & waxes  were Indonesia ($37.8B), Malaysia ($22B), Netherlands ($8.1B), Spain ($7.82B), and Canada ($6.5B).

Imports In 2023 the top importers of Animal or vegetable fats, oils, & waxes were China ($17.5B), United States ($16.6B), India ($15.8B), Netherlands ($10.1B), and Italy ($7.17B).

Ranking Animal or vegetable fats, oils, & waxes ranks 85th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Animal or vegetable fats, oils, & waxes. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Indonesia$37.8B
Top Destination (2023)China$17.5B

In 2023 Animal or vegetable fats, oils, & waxes were the world's 25th most traded product (out of 96).

In 2023, the top exporters of Animal or vegetable fats, oils, & waxes were Indonesia ($37.8B), Malaysia ($22B), Netherlands ($8.1B), Spain ($7.82B), and Canada ($6.5B).

In 2023, the top importers of Animal or vegetable fats, oils, & waxes were China ($17.5B), United States ($16.6B), India ($15.8B), Netherlands ($10.1B), and Italy ($7.17B).

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Exporters of Animal or vegetable fats, oils, & waxes (2023)
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Importers of Animal or vegetable fats, oils, & waxes (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Greece$582M
Top Destination Growth (2022 -  2023)United States$772M

Between 2022 and 2023, the exports of Animal or vegetable fats, oils, & waxes grew the fastest in Greece ($582M), Djibouti ($289M), Mexico ($279M), Chile ($270M), and Canada ($237M).

Between 2022 and 2023, the fastest growing importers of Animal or vegetable fats, oils, & waxes were United States ($772M), Romania ($512M), Tanzania ($179M), Benin ($139M), and Mauritania ($117M).

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Exporters of Animal or vegetable fats, oils, & waxes (2022 - 2023)

Importers of Animal or vegetable fats, oils, & waxes (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Animal or vegetable fats, oils, & waxes.

In 2023, market concentration measured using Shannon Entropy, was 4.82. This means that most of the exports of Animal or vegetable fats, oils, & waxes are explained by 28 countries.

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Value of Exports in Animal or vegetable fats, oils, & waxes

Net Trade

TOP NET EXPORTER (2023)Indonesia$37.4B
TOP NET IMPORTER (2023)China$14.3B

This map shows which countries export or import more of Animal or vegetable fats, oils, & waxes. Each country is colored based on the difference in exports and imports of Animal or vegetable fats, oils, & waxes during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Animal or vegetable fats, oils, & waxes were Indonesia ($37.4B), Malaysia ($18.4B), Argentina ($6.13B), Ukraine ($5.68B), and Canada ($4.66B).

In 2023, the countries that had a largest trade value in imports than in exports of Animal or vegetable fats, oils, & waxes were China ($14.3B), United States ($13.6B), India ($13.5B), Italy ($3.35B), and Pakistan ($3.19B).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Animal or vegetable fats, oils, &..., disaggragated by their HS6 level were Palm Oil ($48.1B), Seed Oils ($19B), Rapeseed Oil ($14B), Stearic Acid ($13.9B), and Soybean Oil ($13.5B)

HS6 Disaggregation for Animal or vegetable fats, oils, & waxes (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Animal or vegetable fats, oils, & waxes.
It is possible to select the main countries that export or import Animal or vegetable fats, oils, & waxes in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Animal or vegetable fats, oils, & waxes by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALMalaysia+ $183M
TOP IMPORT POTENTIALMalaysia+ $20.3M

Animal or vegetable fats, oils, & waxes’s highest export potential is Malaysia. With an export gap of $183M.  Animal or vegetable fats, oils, & waxes’s highest import potential is Malaysia with an import gap of $20.3M.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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