HS Icon Sunflower or safflower oil,fractions simply refined

151219 (Harmonized System 1992 for 6-digit)

World Trade (2018): $3.43B, Rnk 892 / 4726

Top Exporter (2018): $418M, Russia

Top Importer (2018): $271M, Belgium-Luxembourg

Product Complexity (2018): -0.83, Rnk 3803 / 4873

Export Growth (CAGR)(2017 - 2018): 3.88%, Rnk 3457 / 4726

Mean Tariff (2018): 13.9%, Rnk 1416 / 6538

Share of World Trade (2018): 0.019%, Rnk 892 / 4726

Overview:  This page contains the latest trade data of Sunflower or safflower oil,fractions simply refined. In 2018, Sunflower or safflower oil,fractions simply refined were the world's 892nd most traded product, with a total trade of $3.43B. Between 2017 and 2018 the exports of Sunflower or safflower oil,fractions simply refined grew by 3.88%, from  $3.3B to $3.43B. Trade in Sunflower or safflower oil,fractions simply refined represent 0.019% of total world trade.

Exports: In 2018 the top exporters of Sunflower or safflower oil,fractions simply refined  were Russia ($418M), Turkey ($404M), Ukraine ($384M), Hungary ($273M), and France ($252M).

Imports: In 2018 the top importers of Sunflower or safflower oil,fractions simply refined were Belgium-Luxembourg ($271M), Netherlands ($178M), Germany ($166M), France ($137M), and United Kingdom ($115M).

Tariffs: In 2018 the average tariff for Sunflower or safflower oil,fractions simply refined was 13.9%, been the 1416 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Sunflower or safflower oil,fractions simply refined are Turkey (52.3%), Jamaica (40%), Hungary (39.1%), Venezuela (38.5%), and Barbados (37.8%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Hong Kong (0%), Indonesia (0%), and Japan (0%).

Ranking: Sunflower or safflower oil,fractions simply refined ranks 3803rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Russia, $418M

Top Destination (2018): Belgium-Luxembourg, $271M

Sunflower or safflower oil,fractions simply refined are the world's 892nd most traded product.

In 2018, the top exporters of Sunflower or safflower oil,fractions simply refined were Russia ($418M), Turkey ($404M), Ukraine ($384M), Hungary ($273M), and France ($252M).

In 2018, the top importers of Sunflower or safflower oil,fractions simply refined were Belgium-Luxembourg ($271M), Netherlands ($178M), Germany ($166M), France ($137M), and United Kingdom ($115M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): France, $50.5M

Top Destination Growth (2017 - 2018): Belgium-Luxembourg, $36.9M

Between 2017 and 2018, the exports of Sunflower or safflower oil,fractions simply refined grew the fastest in France ($50.5M), Hungary ($43.6M), Belgium-Luxembourg ($28.9M), Romania ($25.9M), and Spain ($23.2M).

Between 2017 and 2018, the fastest growing importers of Sunflower or safflower oil,fractions simply refined were Belgium-Luxembourg ($36.9M), Netherlands ($35.9M), Croatia ($29.4M), Yemen ($27.2M), and Austria ($22.4M).

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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 Sunflower or safflower oil,fractions simply refined.

In 2018,  market concentration measured using Shannon Entropy, was 4.42. This means that most of the exports of Sunflower or safflower oil,fractions simply refined are explained by 21 countries.

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TOP NET EXPORTER (2018): Russia, $414M

TOP NET IMPORTER (2018): Iraq, $102M

This map shows which countries export or import more of Sunflower or safflower oil,fractions simply refined. Each country is colored based on the difference in exports and imports of Sunflower or safflower oil,fractions simply refined during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Sunflower or safflower oil,fractions simply refined were Russia ($414M), Turkey ($378M), Ukraine ($362M), Hungary ($248M), and Spain ($162M).

In 2018, the countries that had a largest trade value in imports than in exports of Sunflower or safflower oil,fractions simply refined were Iraq ($102M), Syria ($96.6M), Belgium-Luxembourg ($95.5M), Chile ($89.1M), and United Kingdom ($87.8M).

Trade Forecasts

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This section shows forecasts for total trade for Sunflower or safflower oil,fractions simply refined. 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 Sunflower or safflower oil,fractions simply refined was 13.9%.  The countries with the highest tariffs for importing Sunflower or safflower oil,fractions simply refined were Turkey (52.3%), Jamaica (40%), Hungary (39.1%), Venezuela (38.5%), and Barbados (37.8%).

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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.