Palm Oil1511 (Harmonized System 1992 for 4-digit)
World Trade (2019): $29.3B, Rnk 126 / 1217
Top Exporter (2019): $15.3B, Indonesia
Top Importer (2019): $4.85B, India
Product Complexity (2019): -2.07, Rnk 940 / 961
Export Growth (CAGR)(2018 - 2019): -8.93%, Rnk 926 / 1217
Mean Tariff (2018): 9.18%, Rnk 466 / 1259
Share of World Trade (2019): 0.16%, Rnk 126 / 1217
Overview: This page contains the latest trade data of Palm Oil. In 2019, Palm Oil were the world's 126th most traded product, with a total trade of $29.3B. Between 2018 and 2019 the exports of Palm Oil decreased by -8.93%, from $32.2B to $29.3B. Trade in Palm Oil represent 0.16% of total world trade.
Exports: In 2019 the top exporters of Palm Oil were Indonesia ($15.3B), Malaysia ($8.91B), Netherlands ($977M), Guatemala ($399M), and Papua New Guinea ($381M).
Imports: In 2019 the top importers of Palm Oil were India ($4.85B), China ($3.58B), Pakistan ($1.66B), Netherlands ($1.46B), and Spain ($1.05B).
Tariffs: In 2018 the average tariff for Palm Oil was 9.18%, making it the 466th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Palm Oil are Thailand (139%), Venezuela (38.4%), Barbados (37.8%), Tunisia (36%), and Sudan (35%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), Armenia (0%), and Hong Kong (0%).
Ranking: Palm Oil ranks 940th in the Product Complexity Index (PCI).
Trade By Country
Palm Oil are the world's 126th most traded product.
In 2019, the top exporters of Palm Oil were Indonesia ($15.3B), Malaysia ($8.91B), Netherlands ($977M), Guatemala ($399M), and Papua New Guinea ($381M).
In 2019, the top importers of Palm Oil were India ($4.85B), China ($3.58B), Pakistan ($1.66B), Netherlands ($1.46B), and Spain ($1.05B).
Trade by country
Between 2018 and 2019, the exports of Palm Oil grew the fastest in Nepal ($172M), Turkey ($41.7M), Estonia ($23.3M), Ghana ($21.6M), and Bangladesh ($20.1M).
Between 2018 and 2019, the fastest growing importers of Palm Oil were China ($785M), Nigeria ($142M), Ghana ($29M), Tanzania ($26.1M), and Ecuador ($23.8M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Palm Oil.
In 2019, market concentration measured using Shannon Entropy, was 2.27. This means that most of the exports of Palm Oil are explained by 4 countries.
This map shows which countries export or import more of Palm Oil. Each country is colored based on the difference in exports and imports of Palm Oil during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Palm Oil were Indonesia ($15.2B), Malaysia ($8.22B), Guatemala ($385M), Papua New Guinea ($365M), and Colombia ($198M).
In 2019, the countries that had a largest trade value in imports than in exports of Palm Oil were India ($4.83B), China ($3.55B), Pakistan ($1.66B), Spain ($997M), and United States ($835M).
In 2019, the world most traded Palm Oil, disaggragated by their HS6 level were Palm oil or fractions simply refined ($20.9B) and Palm oil, crude ($8.43B)
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.
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