HS Icon Other Vegetable Oils

1516 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $3.39B, Rnk 599 / 1217

2019
Top Exporter | Top Importer
: $1B | $363M, Malaysia | Myanmar

2019
Product Complexity
: -1.28, Rnk 846 / 961

2018 - 2019
Export Growth (CAGR)
: -14%, Rnk 1061 / 1217

2018
Mean Tariff
: 13.7%, Rnk 244 / 1259

 2019
Share of World Trade
: 0.019%, Rnk 599 / 1217

Overview:  This page contains the latest trade data of Other Vegetable Oils. In 2019, Other Vegetable Oils were the world's 599th most traded product, with a total trade of $3.39B. Between 2018 and 2019 the exports of Other Vegetable Oils decreased by -14%, from  $3.95B to $3.39B. Trade in Other Vegetable Oils represent 0.019% of total world trade.

Exports: In 2019 the top exporters of Other Vegetable Oils  were Malaysia ($1B), Indonesia ($691M), Netherlands ($267M), Germany ($210M), and Sweden ($125M).

Imports: In 2019 the top importers of Other Vegetable Oils were Myanmar ($363M), United States ($197M), Germany ($163M), China ($155M), and Netherlands ($129M).

Tariffs: In 2018 the average tariff for Other Vegetable Oils was 13.7%, making it the 244th 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 846th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2019): Malaysia, $1B

Top Destination (2019): Myanmar, $363M

Other Vegetable Oils are the world's 599th most traded product.

In 2019, the top exporters of Other Vegetable Oils were Malaysia ($1B), Indonesia ($691M), Netherlands ($267M), Germany ($210M), and Sweden ($125M).

In 2019, the top importers of Other Vegetable Oils were Myanmar ($363M), United States ($197M), Germany ($163M), China ($155M), and Netherlands ($129M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Norway, $21M

Top Destination Growth (2018 - 2019): Indonesia, $22M

Between 2018 and 2019, the exports of Other Vegetable Oils grew the fastest in Norway ($21M), India ($13.5M), Chile ($6.32M), Estonia ($6.25M), and Turkey ($3.37M).

Between 2018 and 2019, the fastest growing importers of Other Vegetable Oils were Indonesia ($22M), Italy ($18.5M), South Korea ($10.9M), Japan ($5.65M), and Poland ($5M).

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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 2019,  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 (2019): Malaysia, $952M

TOP NET IMPORTER (2019): Myanmar, $361M

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Other Vegetable Oils were Malaysia ($952M), Indonesia ($642M), Netherlands ($138M), Sweden ($102M), and Germany ($47.4M).

In 2019, the countries that had a largest trade value in imports than in exports of Other Vegetable Oils were Myanmar ($361M), China ($130M), United States ($111M), Japan ($92.3M), and Turkey ($86.7M).

Disaggregation

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Value

In 2019, the world most traded Other Vegetable Oils, disaggragated by their HS6 level were Veg fats, oils or fractions hydrogenated,... ($3.18B) and Animal fats, oils, fractions, hydrogenated, esterifie ($217M)

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.