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Fats of bovine animals, sheep or goats, other than those of heading 1503

1502 (Harmonized System 1992 for 4-digit)

2023
World Trade $2.75BRnk 688 / 1217
2023
Top Exporter | Top Importer $642M | $1.17BAustralia | United States
2023
Product Complexity -0.73Rnk 787 / 1044
2022 - 2023
Export Growth (CAGR) -2.18%Rnk 478 / 1217
2023
Share of World Trade 0.012%Rnk 688 / 1217

About

Overview This page contains the latest trade data of Bovine, Sheep, and Goat Fat. In 2023, Bovine, Sheep, and Goat Fat were the world's 688th most traded product, with a total trade of $2.75B. Between 2022 and 2023 the exports of Bovine, Sheep, and Goat Fat decreased by -2.18%, from $2.81B to $2.75B. Trade in Bovine, Sheep, and Goat Fat represent 0.012% of total world trade.

Bovine, Sheep, and Goat Fat are a part of Animal or vegetable fats, oils, & waxes. They include Bovine, sheep and goat fats, raw or rendered.

Exports In 2023 the top exporters of Bovine, Sheep, and Goat Fat  were Australia ($642M), Canada ($344M), Brazil ($295M), Malaysia ($213M), and Uruguay ($150M).

Imports In 2023 the top importers of Bovine, Sheep, and Goat Fat were United States ($1.17B), Singapore ($574M), Malaysia ($229M), Netherlands ($114M), and Belgium ($108M).

Ranking Bovine, Sheep, and Goat Fat ranks 787th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

The following visualization shows the latest trends on Bovine, Sheep, and Goat Fat. 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)Australia$642M
Top Destination (2023)United States$1.17B

In 2023 Bovine, Sheep, and Goat Fat were the world's 688th most traded product (out of 1,217).

In 2023, the top exporters of Bovine, Sheep, and Goat Fat were Australia ($642M), Canada ($344M), Brazil ($295M), Malaysia ($213M), and Uruguay ($150M).

In 2023, the top importers of Bovine, Sheep, and Goat Fat were United States ($1.17B), Singapore ($574M), Malaysia ($229M), Netherlands ($114M), and Belgium ($108M).

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Exporters of Bovine, Sheep, and Goat Fat (2023)
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Importers of Bovine, Sheep, and Goat Fat (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Brazil$165M
Top Destination Growth (2022 -  2023)United States$227M

Between 2022 and 2023, the exports of Bovine, Sheep, and Goat Fat grew the fastest in Brazil ($165M), Malaysia ($87.6M), Argentina ($46.6M), India ($45.2M), and Uruguay ($27M).

Between 2022 and 2023, the fastest growing importers of Bovine, Sheep, and Goat Fat were United States ($227M), Malaysia ($82.1M), Uruguay ($26.7M), Singapore ($23.6M), and Chile ($5.06M).

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Exporters of Bovine, Sheep, and Goat Fat (2022 - 2023)

Importers of Bovine, Sheep, and Goat Fat (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Bovine, Sheep, and Goat Fat.

In 2023, market concentration measured using Shannon Entropy, was 3.92. This means that most of the exports of Bovine, Sheep, and Goat Fat are explained by 15 countries.

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Value of Exports in Bovine, Sheep, and Goat Fat

Net Trade

TOP NET EXPORTER (2023)Australia$642M
TOP NET IMPORTER (2023)United States$1.03B

This map shows which countries export or import more of Bovine, Sheep, and Goat Fat. Each country is colored based on the difference in exports and imports of Bovine, Sheep, and Goat Fat during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Bovine, Sheep, and Goat Fat were Australia ($642M), Canada ($283M), Brazil ($255M), India ($146M), and Argentina ($120M).

In 2023, the countries that had a largest trade value in imports than in exports of Bovine, Sheep, and Goat Fat were United States ($1.03B), Singapore ($574M), Belgium ($79.6M), Netherlands ($78.6M), and China ($56.3M).

Net Trade (2023)

Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Bovine, Sheep, and Goat Fat.
It is possible to select the main countries that export or import Bovine, Sheep, and Goat Fat in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Bovine, Sheep, and Goat Fat by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALSingapore+ $2.14M
TOP IMPORT POTENTIALAustralia+ $777k

Bovine, Sheep, and Goat Fat’s highest export potential is Singapore. With an export gap of $2.14M.  Bovine, Sheep, and Goat Fat’s highest import potential is Australia with an import gap of $777k.

See methodology.

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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)

Related Products

This visualization shows products that are likely to be exported by countries that export Bovine, Sheep, and Goat Fat.

Country by Relatedness

The following visualization shows the relatedness of Bovine, Sheep, and Goat Fat to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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