HS Icon Other Vegetable Oils

1516 (Harmonized System 1992 for 4-digit)

World Trade (2018): $3.86B, Rnk 574 / 1225

Top Exporter (2018): $1.06B, Malaysia

Top Importer (2018): $476M, Burma

Product Complexity (2018): -1.16, Rnk 855 / 1018

Export Growth (CAGR)(2017 - 2018): 21.8%, Rnk 297 / 1225

Mean Tariff (2018): 13.7%, Rnk 244 / 1259

Share of World Trade (2018): 0.021%, Rnk 574 / 1225

Overview:  This page contains the latest trade data of Other Vegetable Oils. In 2018, Other Vegetable Oils were the world's 574th most traded product, with a total trade of $3.86B. Between 2017 and 2018 the exports of Other Vegetable Oils grew by 21.8%, from  $3.17B to $3.86B. Trade in Other Vegetable Oils represent 0.021% of total world trade.

Exports: In 2018 the top exporters of Other Vegetable Oils  were Malaysia ($1.06B), Indonesia ($847M), Netherlands ($336M), Germany ($238M), and Sweden ($133M).

Imports: In 2018 the top importers of Other Vegetable Oils were Burma ($476M), United States ($219M), Netherlands ($207M), Germany ($183M), and China ($168M).

Tariffs: In 2018 the average tariff for Other Vegetable Oils was 13.7%, been the 244 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Other Vegetable Oils are Turkey (40.7%), India (40.6%), Jamaica (40%), Bahamas (38.6%), and Trinidad and Tobago (37.8%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and North Macedonia (0%).

Ranking: Other Vegetable Oils ranks 855th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Malaysia, $1.06B

Top Destination (2018): Burma, $476M

Other Vegetable Oils are the world's 574th most traded product.

In 2018, the top exporters of Other Vegetable Oils were Malaysia ($1.06B), Indonesia ($847M), Netherlands ($336M), Germany ($238M), and Sweden ($133M).

In 2018, the top importers of Other Vegetable Oils were Burma ($476M), United States ($219M), Netherlands ($207M), Germany ($183M), and China ($168M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Indonesia, $349M

Top Destination Growth (2017 - 2018): Burma, $449M

Between 2017 and 2018, the exports of Other Vegetable Oils grew the fastest in Indonesia ($349M), Malaysia ($208M), United Arab Emirates ($36.4M), Saudi Arabia ($24.8M), and France ($19.7M).

Between 2017 and 2018, the fastest growing importers of Other Vegetable Oils were Burma ($449M), United States ($113M), Netherlands ($95.6M), India ($54.7M), and Malaysia ($39.7M).

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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 Other Vegetable Oils.

In 2018,  market concentration measured using Shannon Entropy, was 3.95. This means that most of the exports of Other Vegetable Oils are explained by 15 countries.

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TOP NET EXPORTER (2018): Malaysia, $999M

TOP NET IMPORTER (2018): Burma, $474M

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

In 2018, the countries that had a largest trade value in exports than in imports of Other Vegetable Oils were Malaysia ($999M), Indonesia ($821M), Netherlands ($129M), Sweden ($113M), and Spain ($58.9M).

In 2018, the countries that had a largest trade value in imports than in exports of Other Vegetable Oils were Burma ($474M), China ($125M), United States ($111M), Turkey ($89.6M), and Denmark ($86.5M).

Trade Forecasts

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This section shows forecasts for total trade for Other Vegetable 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 Other Vegetable Oils was 13.7%.  The countries with the highest tariffs for importing Other Vegetable Oils were Turkey (40.7%), India (40.6%), Jamaica (40%), Bahamas (38.6%), and Trinidad and Tobago (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.