HS Icon Fish Oil

1504 (Harmonized System 1992 for 4-digit)

World Trade (2018): $2.02B, Rnk 733 / 1225

Top Exporter (2018): $379M, Peru

Top Importer (2018): $269M, Norway

Product Complexity (2018): -1.42, Rnk 924 / 1018

Export Growth (CAGR)(2017 - 2018): 50.7%, Rnk 66 / 1225

Mean Tariff (2018): 5.27%, Rnk 778 / 1259

Share of World Trade (2018): 0.011%, Rnk 733 / 1225

Overview: In 2018, Fish Oil were the world's 733rd most traded product, with a total trade of $2.02B. Between 2017 and 2018 the exports of Fish Oil grew by 50.7%, from  $1.34B to $2.02B. Trade in Fish Oil represent 0.011% of total world trade.

Exports: In 2018 the top exporters of Fish Oil  were Peru ($379M), United States ($161M), Norway ($159M), Denmark ($140M), and Chile ($135M).

Imports: In 2018 the top importers of Fish Oil were Norway ($269M), Denmark ($205M), United States ($128M), China ($122M), and Canada ($117M).

Tariffs: In 2018 the average tariff for Fish Oil was 5.27%, been the 778 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Fish Oil are Bahamas (35.7%), India (24.6%), Cameroon (22.9%), Gabon (22.9%), and Chad (22.9%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Maldives (0%), and Singapore (0%).

Ranking: Fish Oil ranks 924th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Peru, $379M

Top Destination (2018): Norway, $269M

Fish Oil are the world's 733rd most traded product.

In 2018, the top exporters of Fish Oil were Peru ($379M), United States ($161M), Norway ($159M), Denmark ($140M), and Chile ($135M).

In 2018, the top importers of Fish Oil were Norway ($269M), Denmark ($205M), United States ($128M), China ($122M), and Canada ($117M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Peru, $186M

Top Destination Growth (2017 - 2018): Denmark, $180M

Between 2017 and 2018, the exports of Fish Oil grew the fastest in Peru ($186M), Denmark ($138M), Norway ($52.5M), Chile ($52.4M), and China ($39M).

Between 2017 and 2018, the fastest growing importers of Fish Oil were Denmark ($180M), United States ($101M), Norway ($75.7M), Canada ($60.7M), and Australia ($49.5M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Fish Oil.

In 2018,  market concentration measured using Shannon Entropy, was 4.58. This means that most of the exports of Fish Oil are explained by 23 countries.

TOP NET EXPORTER (2018): Peru, $326M

TOP NET IMPORTER (2018): Norway, $110M

This map shows which countries export or import more of Fish Oil. Each country is colored based on the difference in exports and imports of Fish Oil during 2018.

In 2018, the countries that had a largest trade value in exports than imports of Fish Oil were Peru ($326M), Iceland ($95.8M), Morocco ($68.2M), Mauritania ($67.6M), and United States ($32.8M).

In 2018, the countries that had a largest trade value in imports than exports of Fish Oil were Norway ($110M), Canada ($91.7M), Denmark ($65.1M), Belgium-Luxembourg ($56.5M), and United Kingdom ($49.2M).

Trade Forecasts

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This section shows forecasts for total trade for Fish Oil. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Fish Oil was 5.27%.  The countries with the highest tariffs for importing Fish Oil were Bahamas (35.7%), India (24.6%), Cameroon (22.9%), Gabon (22.9%), and Chad (22.9%).

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Product Complexity

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Diversification Frontier

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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.