HS Icon Essential Oils

3301 (Harmonized System 1992 for 4-digit)

World Trade (2019): $6.31B, Rnk 444 / 1217

Top Exporter (2019): $1.17B, India

Top Importer (2019): $1.11B, United States

Product Complexity (2019): -1.31, Rnk 850 / 961

Export Growth (CAGR)(2018 - 2019): 1.12%, Rnk 321 / 1217

Mean Tariff (2018): 7.32%, Rnk 596 / 1259

Share of World Trade (2019): 0.035%, Rnk 444 / 1217

Overview:  This page contains the latest trade data of Essential Oils. In 2019, Essential Oils were the world's 444th most traded product, with a total trade of $6.31B. Between 2018 and 2019 the exports of Essential Oils grew by 1.12%, from  $6.25B to $6.31B. Trade in Essential Oils represent 0.035% of total world trade.

Exports: In 2019 the top exporters of Essential Oils  were India ($1.17B), United States ($790M), United Arab Emirates ($489M), France ($463M), and China ($457M).

Imports: In 2019 the top importers of Essential Oils were United States ($1.11B), India ($640M), France ($449M), Germany ($352M), and Hong Kong ($311M).

Tariffs: In 2018 the average tariff for Essential Oils was 7.32%, making it the 596th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Essential Oils are Romania (42.1%), Bahamas (41.2%), Cambodia (35%), Sudan (35%), and South Korea (34.4%). The countries with the lowest tariffs are Kenya (0%), Mauritius (0%), Rwanda (0%), Tanzania (0%), and Uganda (0%).

Ranking: Essential Oils ranks 850th in the Product Complexity Index (PCI).

Description: Essential oils are used in many industries including health, beauty, and food. They are used as a fragrance in perfumes, soaps, detergents, and candles. Essential oils are also used for their medicinal purposes such as treatment of stress, insomnia, depression, and anxiety. Essential oils are also used in food for flavoring and preservation.

Exporters and Importers

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Trade By Country

Top Origin (2019): India, $1.17B

Top Destination (2019): United States, $1.11B

Essential Oils are the world's 444th most traded product.

In 2019, the top exporters of Essential Oils were India ($1.17B), United States ($790M), United Arab Emirates ($489M), France ($463M), and China ($457M).

In 2019, the top importers of Essential Oils were United States ($1.11B), India ($640M), France ($449M), Germany ($352M), and Hong Kong ($311M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): United Arab Emirates, $449M

Top Destination Growth (2018 - 2019): India, $439M

Between 2018 and 2019, the exports of Essential Oils grew the fastest in United Arab Emirates ($449M), India ($344M), Switzerland ($9.94M), Netherlands ($7.7M), and Uruguay ($7.01M).

Between 2018 and 2019, the fastest growing importers of Essential Oils were India ($439M), Iran ($183M), Hong Kong ($171M), Ireland ($22.9M), and Chinese Taipei ($10.1M).

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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 Essential Oils.

In 2019,  market concentration measured using Shannon Entropy, was 4.54. This means that most of the exports of Essential Oils are explained by 23 countries.

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TOP NET EXPORTER (2019): India, $527M

TOP NET IMPORTER (2019): United States, $324M

This map shows which countries export or import more of Essential Oils. Each country is colored based on the difference in exports and imports of Essential Oils during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Essential Oils were India ($527M), United Arab Emirates ($441M), Brazil ($233M), Argentina ($200M), and China ($158M).

In 2019, the countries that had a largest trade value in imports than in exports of Essential Oils were United States ($324M), Hong Kong ($300M), Iran ($222M), Japan ($194M), and Ireland ($170M).

Disaggregation

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Value

In 2019, the world most traded Essential Oils, disaggragated by their HS6 level were Essential oils, nes ($2.4B), Essential oils of other mints ($1.28B), Essential oils, terpenic by-products etc., nes ($941M), Essential oils of orange ($498M), and Essential oils of lemon ($488M)

Import Tariffs

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In 2018, the average tariff for importing Essential Oils was 7.32%.  The countries with the highest tariffs for importing Essential Oils were Romania (42.1%), Bahamas (41.2%), Cambodia (35%), Sudan (35%), and South Korea (34.4%).

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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.