HS Icon Palm Oil

1511 (Harmonized System 1992 for 4-digit)

World Trade (2018): $31.4B, Rnk 120 / 1225

Top Exporter (2018): $16.7B, Indonesia

Top Importer (2018): $5.18B, India

Product Complexity (2018): -1.92, Rnk 993 / 1018

Export Growth (CAGR)(2017 - 2018): -5.42%, Rnk 1142 / 1225

Mean Tariff (2018): 9.18%, Rnk 466 / 1259

Share of World Trade (2018): 0.17%, Rnk 120 / 1225

Overview: In 2018, Palm Oil were the world's 120th most traded product, with a total trade of $31.4B. Between 2017 and 2018 the exports of Palm Oil decreased by -5.42%, from  $33.2B to $31.4B. Trade in Palm Oil represent 0.17% of total world trade.

Exports: In 2018 the top exporters of Palm Oil  were Indonesia ($16.7B), Malaysia ($9.28B), Netherlands ($997M), Colombia ($452M), and Papua New Guinea ($430M).

Imports: In 2018 the top importers of Palm Oil were India ($5.18B), China ($2.79B), Pakistan ($1.98B), Netherlands ($1.82B), and Spain ($1.22B).

Tariffs: In 2018 the average tariff for Palm Oil was 9.18%, been the 466 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Palm Oil are Thailand (139%), Venezuela (38.4%), Barbados (37.8%), Tunisia (36%), and Sudan (35%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), Armenia (0%), and Hong Kong (0%).

Ranking: Palm Oil ranks 993rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Indonesia, $16.7B

Top Destination (2018): India, $5.18B

Palm Oil are the world's 120th most traded product.

In 2018, the top exporters of Palm Oil were Indonesia ($16.7B), Malaysia ($9.28B), Netherlands ($997M), Colombia ($452M), and Papua New Guinea ($430M).

In 2018, the top importers of Palm Oil were India ($5.18B), China ($2.79B), Pakistan ($1.98B), Netherlands ($1.82B), and Spain ($1.22B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Thailand, $129M

Top Destination Growth (2017 - 2018): Philippines, $272M

Between 2017 and 2018, the exports of Palm Oil grew the fastest in Thailand ($129M), Singapore ($99M), Cote d'Ivoire ($71.1M), United Arab Emirates ($70.5M), and Estonia ($62.3M).

Between 2017 and 2018, the fastest growing importers of Palm Oil were Philippines ($272M), Mozambique ($178M), Saudi Arabia ($174M), Malaysia ($155M), and Djibouti ($93.9M).

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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 Palm Oil.

In 2018,  market concentration measured using Shannon Entropy, was 2.24. This means that most of the exports of Palm Oil are explained by 4 countries.

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TOP NET EXPORTER (2018): Indonesia, $16.7B

TOP NET IMPORTER (2018): India, $5.17B

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 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Palm Oil were Indonesia ($16.7B), Malaysia ($8.69B), Papua New Guinea ($402M), Guatemala ($392M), and Honduras ($290M).

In 2018, the countries that had a largest trade value in imports than in exports of Palm Oil were India ($5.17B), China ($2.76B), Pakistan ($1.98B), Spain ($1.17B), and Bangladesh ($1.04B).

Trade Forecasts

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This section shows forecasts for total trade for Palm 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 Palm Oil was 9.18%.  The countries with the highest tariffs for importing Palm Oil were Thailand (139%), Venezuela (38.4%), Barbados (37.8%), Tunisia (36%), and Sudan (35%).

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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.