HS Icon Pure Olive Oil

1509 (Harmonized System 1992 for 4-digit)

World Trade (2018): $8.5B, Rnk 370 / 1225

Top Exporter (2018): $3.68B, Spain

Top Importer (2018): $1.81B, Italy

Product Complexity (2018): -0.73, Rnk 757 / 1018

Export Growth (CAGR)(2017 - 2018): 3.8%, Rnk 1000 / 1225

Mean Tariff (2018): 22.8%, Rnk 78 / 1259

Share of World Trade (2018): 0.046%, Rnk 370 / 1225

Overview:  This page contains the latest trade data of Pure Olive Oil. In 2018, Pure Olive Oil were the world's 370th most traded product, with a total trade of $8.5B. Between 2017 and 2018 the exports of Pure Olive Oil grew by 3.8%, from  $8.19B to $8.5B. Trade in Pure Olive Oil represent 0.046% of total world trade.

Exports: In 2018 the top exporters of Pure Olive Oil  were Spain ($3.68B), Italy ($1.67B), Tunisia ($789M), Portugal ($723M), and Greece ($696M).

Imports: In 2018 the top importers of Pure Olive Oil were Italy ($1.81B), United States ($1.44B), Spain ($646M), France ($573M), and Brazil ($450M).

Tariffs: In 2018 the average tariff for Pure Olive Oil was 22.8%, been the 78 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Pure Olive Oil are Cyprus (261%), Iran (70%), Lebanon (64.3%), Syria (46%), and Jamaica (40%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Maldives (0%), and Pakistan (0%).

Ranking: Pure Olive Oil ranks 757th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Spain, $3.68B

Top Destination (2018): Italy, $1.81B

Pure Olive Oil are the world's 370th most traded product.

In 2018, the top exporters of Pure Olive Oil were Spain ($3.68B), Italy ($1.67B), Tunisia ($789M), Portugal ($723M), and Greece ($696M).

In 2018, the top importers of Pure Olive Oil were Italy ($1.81B), United States ($1.44B), Spain ($646M), France ($573M), and Brazil ($450M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Tunisia, $389M

Top Destination Growth (2017 - 2018): Spain, $232M

Between 2017 and 2018, the exports of Pure Olive Oil grew the fastest in Tunisia ($389M), Portugal ($187M), Greece ($180M), Turkey ($82.9M), and Syria ($72.1M).

Between 2017 and 2018, the fastest growing importers of Pure Olive Oil were Spain ($232M), Brazil ($114M), Canada ($87.9M), Saudi Arabia ($76.9M), and Germany ($36.5M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Pure Olive Oil.

In 2018,  market concentration measured using Shannon Entropy, was 2.7. This means that most of the exports of Pure Olive Oil are explained by 6 countries.

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TOP NET EXPORTER (2018): Spain, $3.04B

TOP NET IMPORTER (2018): United States, $1.41B

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

In 2018, the countries that had a largest trade value in exports than in imports of Pure Olive Oil were Spain ($3.04B), Tunisia ($787M), Greece ($691M), Portugal ($341M), and Turkey ($229M).

In 2018, the countries that had a largest trade value in imports than in exports of Pure Olive Oil were United States ($1.41B), France ($514M), Brazil ($450M), Germany ($347M), and Japan ($291M).

Trade Forecasts

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This section shows forecasts for total trade for Pure Olive 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 Pure Olive Oil was 22.8%.  The countries with the highest tariffs for importing Pure Olive Oil were Cyprus (261%), Iran (70%), Lebanon (64.3%), Syria (46%), and Jamaica (40%).

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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.