HS Icon Seed Oils

1512 (Harmonized System 1992 for 4-digit)

World Trade (2018): $10.6B, Rnk 310 / 1225

Top Exporter (2018): $4.12B, Ukraine

Top Importer (2018): $1.86B, India

Product Complexity (2018): -1.07, Rnk 838 / 1018

Export Growth (CAGR)(2017 - 2018): 2.51%, Rnk 1023 / 1225

Mean Tariff (2018): 13%, Rnk 274 / 1259

Share of World Trade (2018): 0.058%, Rnk 310 / 1225

Overview: In 2018, Seed Oils were the world's 310th most traded product, with a total trade of $10.6B. Between 2017 and 2018 the exports of Seed Oils grew by 2.51%, from  $10.4B to $10.6B. Trade in Seed Oils represent 0.058% of total world trade.

Exports: In 2018 the top exporters of Seed Oils  were Ukraine ($4.12B), Russia ($1.6B), Argentina ($560M), Netherlands ($558M), and Hungary ($512M).

Imports: In 2018 the top importers of Seed Oils were India ($1.86B), Netherlands ($587M), China ($531M), Italy ($467M), and Belgium-Luxembourg ($412M).

Tariffs: In 2018 the average tariff for Seed Oils was 13%, been the 274 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Seed Oils are Turkmenistan (46%), Jamaica (40%), Venezuela (38.5%), Trinidad and Tobago (37.8%), and Barbados (37%). The countries with the lowest tariffs are Egypt (0%), Hong Kong (0%), Japan (0%), Maldives (0%), and Pakistan (0%).

Ranking: Seed Oils ranks 838th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Ukraine, $4.12B

Top Destination (2018): India, $1.86B

Seed Oils are the world's 310th most traded product.

In 2018, the top exporters of Seed Oils were Ukraine ($4.12B), Russia ($1.6B), Argentina ($560M), Netherlands ($558M), and Hungary ($512M).

In 2018, the top importers of Seed Oils were India ($1.86B), Netherlands ($587M), China ($531M), Italy ($467M), and Belgium-Luxembourg ($412M).

Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Russia, $188M

Top Destination Growth (2017 - 2018): India, $169M

Between 2017 and 2018, the exports of Seed Oils grew the fastest in Russia ($188M), Bulgaria ($83.6M), Romania ($78.2M), Netherlands ($48.2M), and France ($43.3M).

Between 2017 and 2018, the fastest growing importers of Seed Oils were India ($169M), Turkey ($160M), Mexico ($90.6M), Germany ($66.9M), and Iran ($46.5M).

Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Seed Oils.

In 2018,  market concentration measured using Shannon Entropy, was 3.54. This means that most of the exports of Seed Oils are explained by 11 countries.

TOP NET EXPORTER (2018): Ukraine, $4.1B

TOP NET IMPORTER (2018): India, $1.86B

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

In 2018, the countries that had a largest trade value in exports than imports of Seed Oils were Ukraine ($4.1B), Russia ($1.6B), Argentina ($560M), Hungary ($474M), and Bulgaria ($298M).

In 2018, the countries that had a largest trade value in imports than exports of Seed Oils were India ($1.86B), China ($526M), Italy ($413M), Iraq ($389M), and Iran ($375M).

Trade Forecasts

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This section shows forecasts for total trade for Seed Oils. 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 Seed Oils was 13%.  The countries with the highest tariffs for importing Seed Oils were Turkmenistan (46%), Jamaica (40%), Venezuela (38.5%), Trinidad and Tobago (37.8%), and Barbados (37%).

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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.