Palm Oil1511 (Harmonized System 1992 for 4-digit)
2020 World Trade: $34.1B, Rnk 104 / 1217
2020 Top Exporter | Top Importer: $17.9B | $5.04B, India | Indonesia
2020 Product Complexity: -2.12, Rnk 1012 / 1028
2019 - 2020 Export Growth (CAGR): 13.7%, Rnk 85 / 1217
2018 Mean Tariff: 9.26%, Rnk 460 / 1259
2020 Share of World Trade: 0.2%, Rnk 104 / 1217
Overview This page contains the latest trade data of Palm Oil. In 2020, Palm Oil were the world's 104th most traded product, with a total trade of $34.1B. Between 2019 and 2020 the exports of Palm Oil grew by 13.7%, from $30B to $34.1B. Trade in Palm Oil represent 0.2% of total world trade.
Palm Oil are a part of Animal or vegetable fats and oils and their cleavage products. They include Palm oil or fractions simply refinedand Palm oil, crude.
Exports In 2020 the top exporters of Palm Oil were Indonesia ($17.9B), Malaysia ($10.6B), Netherlands ($1.03B), Guatemala ($466M), and Papua New Guinea ($434M).
Imports In 2020 the top importers of Palm Oil were India ($5.04B), China ($3.66B), Pakistan ($2.15B), Netherlands ($1.72B), and Spain ($1.25B).
Tariffs In 2018 the average tariff for Palm Oil was 9.26%, making it the 460th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Palm Oil are Thailand (139%), Switzerland (106%), Liechtenstein (106%), Bhutan (99.6%), and India (90.2%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), Armenia (0%), and Hong Kong (0%).
Ranking Palm Oil ranks 1012th in the Product Complexity Index (PCI).
The following visualization shows the latest trends on Palm Oil. Countries are shown based on data availability.
For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.
* Using January 2020 exchange rates when trade data is reported in local currency.
Trade By Country
Palm Oil are the world's 104th most traded product.
In 2020, the top exporters of Palm Oil were Indonesia ($17.9B), Malaysia ($10.6B), Netherlands ($1.03B), Guatemala ($466M), and Papua New Guinea ($434M).
In 2020, the top importers of Palm Oil were India ($5.04B), China ($3.66B), Pakistan ($2.15B), Netherlands ($1.72B), and Spain ($1.25B).
Trade by country
Top Origin Growth (2019 - 2020): Indonesia, $2.28B
Top Destination Growth (2019 - 2020): Pakistan, $494M
Between 2019 and 2020, the exports of Palm Oil grew the fastest in Indonesia ($2.28B), Malaysia ($1.5B), Honduras ($120M), Turkey ($85.3M), and Guatemala ($67.3M).
Between 2019 and 2020, the fastest growing importers of Palm Oil were Pakistan ($494M), Philippines ($295M), Kenya ($288M), Netherlands ($268M), and Italy ($253M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Palm Oil.
In 2020, market concentration measured using Shannon Entropy, was 2.21. This means that most of the exports of Palm Oil are explained by 4 countries.
This map shows which countries export or import more of Palm Oil. Each country is colored based on the difference in exports and imports of Palm Oil during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Palm Oil were Indonesia ($17.9B), Malaysia ($9.77B), Guatemala ($445M), Papua New Guinea ($421M), and Honduras ($311M).
In 2020, the countries that had a largest trade value in imports than in exports of Palm Oil were India ($5.03B), China ($3.64B), Pakistan ($2.15B), Spain ($1.19B), and Italy ($1.06B).
In 2019, the world most traded Palm Oil, disaggragated by their HS6 level were Palm oil or fractions simply refined ($23.1B)and Palm oil, crude ($10.9B)
This visualization shows the countries that have an important ratio of their trade related to Palm Oil. It is possible to select the main countries that export or import Palm Oil in the world, or by continent, as well as select the measure of interest.
In 2018, the average tariff for importing Palm Oil was 9.26%. The countries with the highest tariffs for importing Palm Oil were Thailand (139%), Switzerland (106%), Liechtenstein (106%), Bhutan (99.6%), and India (90.2%).
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.
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