HS Icon Olive oil, virgin

150910 (Harmonized System 1992 for 6-digit)

World Trade (2018): $7B, Rnk 462 / 4726

Top Exporter (2018): $2.83B, Spain

Top Importer (2018): $1.63B, Italy

Product Complexity (2018): -1.01, Rnk 4015 / 4873

Export Growth (CAGR)(2017 - 2018): 5.1%, Rnk 3321 / 4726

Mean Tariff (2018): 19.3%, Rnk 654 / 6538

Share of World Trade (2018): 0.038%, Rnk 462 / 4726

Overview:  This page contains the latest trade data of Olive oil, virgin. In 2018, Olive oil, virgin were the world's 462nd most traded product, with a total trade of $7B. Between 2017 and 2018 the exports of Olive oil, virgin grew by 5.1%, from  $6.66B to $7B. Trade in Olive oil, virgin represent 0.038% of total world trade.

Exports: In 2018 the top exporters of Olive oil, virgin  were Spain ($2.83B), Italy ($1.41B), Tunisia ($747M), Greece ($663M), and Portugal ($632M).

Imports: In 2018 the top importers of Olive oil, virgin were Italy ($1.63B), United States ($1.1B), Spain ($612M), France ($550M), and Brazil ($390M).

Tariffs: In 2018 the average tariff for Olive oil, virgin was 19.3%, been the 654 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Olive oil, virgin are Cyprus (261%), Lebanon (64.3%), Iran (50%), 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: Olive oil, virgin ranks 4015th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Spain, $2.83B

Top Destination (2018): Italy, $1.63B

Olive oil, virgin are the world's 462nd most traded product.

In 2018, the top exporters of Olive oil, virgin were Spain ($2.83B), Italy ($1.41B), Tunisia ($747M), Greece ($663M), and Portugal ($632M).

In 2018, the top importers of Olive oil, virgin were Italy ($1.63B), United States ($1.1B), Spain ($612M), France ($550M), and Brazil ($390M).

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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, $237M

Between 2017 and 2018, the exports of Olive oil, virgin grew the fastest in Tunisia ($389M), Portugal ($181M), Greece ($167M), Syria ($63.5M), and Turkey ($53.7M).

Between 2017 and 2018, the fastest growing importers of Olive oil, virgin were Spain ($237M), Brazil ($96M), Canada ($77.2M), Saudi Arabia ($71.8M), and Germany ($42.3M).

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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 Olive oil, virgin.

In 2018,  market concentration measured using Shannon Entropy, was 2.72. This means that most of the exports of Olive oil, virgin are explained by 6 countries.

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TOP NET EXPORTER (2018): Spain, $2.21B

TOP NET IMPORTER (2018): United States, $1.09B

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

In 2018, the countries that had a largest trade value in exports than in imports of Olive oil, virgin were Spain ($2.21B), Tunisia ($746M), Greece ($661M), Portugal ($354M), and Turkey ($128M).

In 2018, the countries that had a largest trade value in imports than in exports of Olive oil, virgin were United States ($1.09B), France ($504M), Brazil ($390M), Germany ($326M), and Japan ($218M).

Trade Forecasts

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This section shows forecasts for total trade for Olive oil, virgin. 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 Olive oil, virgin was 19.3%.  The countries with the highest tariffs for importing Olive oil, virgin were Cyprus (261%), Lebanon (64.3%), Iran (50%), 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.