HS Icon Inedible Fats and Oils

1518 (Harmonized System 1992 for 4-digit)

World Trade (2018): $3.31B, Rnk 601 / 1225

Top Exporter (2018): $653M, Netherlands

Top Importer (2018): $602M, Netherlands

Product Complexity (2018): -0.19, Rnk 606 / 1018

Export Growth (CAGR)(2017 - 2018): 10.2%, Rnk 767 / 1225

Mean Tariff (2018): 7.82%, Rnk 557 / 1259

Share of World Trade (2018): 0.018%, Rnk 601 / 1225

Overview:  This page contains the latest trade data of Inedible Fats and Oils. In 2018, Inedible Fats and Oils were the world's 601st most traded product, with a total trade of $3.31B. Between 2017 and 2018 the exports of Inedible Fats and Oils grew by 10.2%, from  $3.01B to $3.31B. Trade in Inedible Fats and Oils represent 0.018% of total world trade.

Exports: In 2018 the top exporters of Inedible Fats and Oils  were Netherlands ($653M), China ($388M), Malaysia ($381M), Indonesia ($211M), and Germany ($199M).

Imports: In 2018 the top importers of Inedible Fats and Oils were Netherlands ($602M), Germany ($474M), Afghanistan ($358M), Finland ($240M), and United Kingdom ($187M).

Tariffs: In 2018 the average tariff for Inedible Fats and Oils was 7.82%, been the 557 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Inedible Fats and Oils are Venezuela (38.4%), Tunisia (36%), Bahamas (26.8%), Algeria (26.5%), and Oman (26.2%). The countries with the lowest tariffs are Mauritania (0%), Mauritius (0%), Hong Kong (0%), Singapore (0%), and Switzerland (0%).

Ranking: Inedible Fats and Oils ranks 606th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Netherlands, $653M

Top Destination (2018): Netherlands, $602M

Inedible Fats and Oils are the world's 601st most traded product.

In 2018, the top exporters of Inedible Fats and Oils were Netherlands ($653M), China ($388M), Malaysia ($381M), Indonesia ($211M), and Germany ($199M).

In 2018, the top importers of Inedible Fats and Oils were Netherlands ($602M), Germany ($474M), Afghanistan ($358M), Finland ($240M), and United Kingdom ($187M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Malaysia, $281M

Top Destination Growth (2017 - 2018): Afghanistan, $358M

Between 2017 and 2018, the exports of Inedible Fats and Oils grew the fastest in Malaysia ($281M), China ($255M), Slovakia ($67.9M), Russia ($45.5M), and Pakistan ($30.3M).

Between 2017 and 2018, the fastest growing importers of Inedible Fats and Oils were Afghanistan ($358M), Malaysia ($73.8M), Germany ($57M), Belgium-Luxembourg ($42.3M), and Spain ($30.1M).

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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 Inedible Fats and Oils.

In 2018,  market concentration measured using Shannon Entropy, was 4.49. This means that most of the exports of Inedible Fats and Oils are explained by 22 countries.

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TOP NET EXPORTER (2018): China, $357M

TOP NET IMPORTER (2018): Germany, $274M

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

In 2018, the countries that had a largest trade value in exports than in imports of Inedible Fats and Oils were China ($357M), Malaysia ($288M), Indonesia ($198M), United States ($139M), and Slovakia ($61.7M).

In 2018, the countries that had a largest trade value in imports than in exports of Inedible Fats and Oils were Germany ($274M), Finland ($235M), United Kingdom ($118M), Singapore ($112M), and Portugal ($98.2M).

Trade Forecasts

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This section shows forecasts for total trade for Inedible Fats and 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 Inedible Fats and Oils was 7.82%.  The countries with the highest tariffs for importing Inedible Fats and Oils were Venezuela (38.4%), Tunisia (36%), Bahamas (26.8%), Algeria (26.5%), and Oman (26.2%).

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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.