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Butter and other fats and oils derived from milk; dairy spreads

0405 (Harmonized System 1992 for 4-digit)

2023
World Trade $10.8BRnk 346 / 1217
2023
Top Exporter | Top Importer $2.54B | $1.43BNew Zealand | France
2023
Product Complexity -0.12Rnk 612 / 1044
2022 - 2023
Export Growth (CAGR) -10.7%Rnk 768 / 1217
2023
Share of World Trade 0.048%Rnk 346 / 1217

About

Overview This page contains the latest trade data of Butter. In 2023, Butter were the world's 346th most traded product, with a total trade of $10.8B. Between 2022 and 2023 the exports of Butter decreased by -10.7%, from $12.1B to $10.8B. Trade in Butter represent 0.048% of total world trade.

Butter are a part of Edible products of animal origin, n.e.s.. They include Butter and Other Milk Fats.

Exports In 2023 the top exporters of Butter  were New Zealand ($2.54B), Netherlands ($1.83B), Ireland ($1.52B), Germany ($857M), and Belgium ($830M).

Imports In 2023 the top importers of Butter were France ($1.43B), Germany ($899M), Netherlands ($840M), China ($793M), and Belgium ($634M).

Ranking Butter ranks 612th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Butter. Countries are shown based on data availability.

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

Explore Latest Trends

* 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)New Zealand$2.54B
Top Destination (2023)France$1.43B

In 2023 Butter were the world's 346th most traded product (out of 1,217).

In 2023, the top exporters of Butter were New Zealand ($2.54B), Netherlands ($1.83B), Ireland ($1.52B), Germany ($857M), and Belgium ($830M).

In 2023, the top importers of Butter were France ($1.43B), Germany ($899M), Netherlands ($840M), China ($793M), and Belgium ($634M).

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Exporters of Butter (2023)
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Importers of Butter (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Mexico$27.9M
Top Destination Growth (2022 -  2023)United States$83.3M

Between 2022 and 2023, the exports of Butter grew the fastest in Mexico ($27.9M), Portugal ($17.2M), Sweden ($11.6M), Lithuania ($10M), and United Arab Emirates ($9.47M).

Between 2022 and 2023, the fastest growing importers of Butter were United States ($83.3M), Saudi Arabia ($52.7M), Turkey ($29.3M), Japan ($26.5M), and Canada ($20.7M).

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Exporters of Butter (2022 - 2023)

Importers of Butter (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Butter.

In 2023, market concentration measured using Shannon Entropy, was 3.69. This means that most of the exports of Butter are explained by 12 countries.

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Value of Exports in Butter

Net Trade

TOP NET EXPORTER (2023)New Zealand$2.53B
TOP NET IMPORTER (2023)China$782M

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

In 2023, the countries that had a largest trade value in exports than in imports of Butter were New Zealand ($2.53B), Ireland ($1.48B), Netherlands ($987M), Denmark ($328M), and Poland ($263M).

In 2023, the countries that had a largest trade value in imports than in exports of Butter were China ($782M), France ($690M), United States ($438M), Italy ($339M), and Saudi Arabia ($321M).

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 Butter.
It is possible to select the main countries that export or import Butter in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Butter by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited States+ $13.8M
TOP IMPORT POTENTIALBelgium+ $163k

Butter’s highest export potential is United States. With an export gap of $13.8M.  Butter’s highest import potential is Belgium with an import gap of $163k.

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 Butter.

Country by Relatedness

The following visualization shows the relatedness of Butter 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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