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Animal or vegetable fats, oils, fractions, modified in any way, excluding heading no. 1516; inedible versions of animal or vegetable fats, oils or fractions of this chapter, n.e.c. or included

1518 (Harmonized System 1992 for 4-digit)

2023
World Trade $10.2BRnk 360 / 1217
2023
Top Exporter | Top Importer $2B | $2.21BChina | Netherlands
2023
Product Complexity 0.13Rnk 524 / 1044
2022 - 2023
Export Growth (CAGR) -13.9%Rnk 868 / 1217
2023
Share of World Trade 0.045%Rnk 360 / 1217

About

Overview This page contains the latest trade data of Inedible Fats and Oils. In 2023, Inedible Fats and Oils were the world's 360th most traded product, with a total trade of $10.2B. Between 2022 and 2023 the exports of Inedible Fats and Oils decreased by -13.9%, from $11.8B to $10.2B. Trade in Inedible Fats and Oils represent 0.045% of total world trade.

Inedible Fats and Oils are a part of Animal or vegetable fats, oils, & waxes. They include Processed animal, vegetable oils, industrial preps ne.

Exports In 2023 the top exporters of Inedible Fats and Oils  were China ($2B), Netherlands ($1.27B), Malaysia ($1.26B), Belgium ($476M), and Indonesia ($437M).

Imports In 2023 the top importers of Inedible Fats and Oils were Netherlands ($2.21B), United States ($1.68B), Singapore ($1.42B), Germany ($628M), and Spain ($596M).

Ranking Inedible Fats and Oils ranks 524th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Inedible Fats and Oils. 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)China$2B
Top Destination (2023)Netherlands$2.21B

In 2023 Inedible Fats and Oils were the world's 360th most traded product (out of 1,217).

In 2023, the top exporters of Inedible Fats and Oils were China ($2B), Netherlands ($1.27B), Malaysia ($1.26B), Belgium ($476M), and Indonesia ($437M).

In 2023, the top importers of Inedible Fats and Oils were Netherlands ($2.21B), United States ($1.68B), Singapore ($1.42B), Germany ($628M), and Spain ($596M).

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Exporters of Inedible Fats and Oils (2023)
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Importers of Inedible Fats and Oils (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Malaysia$169M
Top Destination Growth (2022 -  2023)United States$1.11B

Between 2022 and 2023, the exports of Inedible Fats and Oils grew the fastest in Malaysia ($169M), New Zealand ($43.9M), Germany ($38.5M), Finland ($33.6M), and Brazil ($28.4M).

Between 2022 and 2023, the fastest growing importers of Inedible Fats and Oils were United States ($1.11B), Singapore ($63.8M), Belgium ($59M), France ($27.5M), and Kenya ($23.9M).

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Exporters of Inedible Fats and Oils (2022 - 2023)

Importers of Inedible Fats and Oils (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Inedible Fats and Oils.

In 2023, market concentration measured using Shannon Entropy, was 4.5. This means that most of the exports of Inedible Fats and Oils are explained by 22 countries.

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Value of Exports in Inedible Fats and Oils

Net Trade

TOP NET EXPORTER (2023)China$1.98B
TOP NET IMPORTER (2023)Singapore$1.39B

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

In 2023, the countries that had a largest trade value in exports than in imports of Inedible Fats and Oils were China ($1.98B), Malaysia ($994M), Indonesia ($416M), Canada ($298M), and Poland ($225M).

In 2023, the countries that had a largest trade value in imports than in exports of Inedible Fats and Oils were Singapore ($1.39B), United States ($1.36B), Netherlands ($946M), Finland ($376M), and Portugal ($198M).

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

Top 10 Exporters Countries of Inedible Fats and Oils by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALGermany+ $29.7M
TOP IMPORT POTENTIALMalaysia+ $6.73M

Inedible Fats and Oils’s highest export potential is Germany. With an export gap of $29.7M.  Inedible Fats and Oils’s highest import potential is Malaysia with an import gap of $6.73M.

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 Inedible Fats and Oils.

Country by Relatedness

The following visualization shows the relatedness of Inedible Fats and Oils 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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