HS Icon Palm oil, crude

151110 (Harmonized System 1992 for 6-digit)

World Trade (2018): $8.63B, Rnk 363 / 4726

Top Exporter (2018): $3.82B, Indonesia

Top Importer (2018): $3.57B, India

Product Complexity (2018): -2.44, Rnk 4841 / 4873

Export Growth (CAGR)(2017 - 2018): -11.3%, Rnk 4351 / 4726

Mean Tariff (2018): 7.41%, Rnk 3042 / 6538

Share of World Trade (2018): 0.047%, Rnk 363 / 4726

Overview:  This page contains the latest trade data of Palm oil, crude. In 2018, Palm oil, crude were the world's 363rd most traded product, with a total trade of $8.63B. Between 2017 and 2018 the exports of Palm oil, crude decreased by -11.3%, from  $9.73B to $8.63B. Trade in Palm oil, crude represent 0.047% of total world trade.

Exports: In 2018 the top exporters of Palm oil, crude  were Indonesia ($3.82B), Malaysia ($2.4B), Colombia ($391M), Guatemala ($353M), and Papua New Guinea ($343M).

Imports: In 2018 the top importers of Palm oil, crude were India ($3.57B), Netherlands ($1.44B), Spain ($487M), Italy ($384M), and Kenya ($318M).

Tariffs: In 2018 the average tariff for Palm oil, crude was 7.41%, been the 3042 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Palm oil, crude are Thailand (139%), Jamaica (40%), Venezuela (38.3%), Belize (38.2%), and Barbados (37.8%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Kenya (0%), Mauritania (0%), and Mauritius (0%).

Ranking: Palm oil, crude ranks 4841st in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): Indonesia, $3.82B

Top Destination (2018): India, $3.57B

Palm oil, crude are the world's 363rd most traded product.

In 2018, the top exporters of Palm oil, crude were Indonesia ($3.82B), Malaysia ($2.4B), Colombia ($391M), Guatemala ($353M), and Papua New Guinea ($343M).

In 2018, the top importers of Palm oil, crude were India ($3.57B), Netherlands ($1.44B), Spain ($487M), Italy ($384M), and Kenya ($318M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Malaysia, $185M

Top Destination Growth (2017 - 2018): Saudi Arabia, $204M

Between 2017 and 2018, the exports of Palm oil, crude grew the fastest in Malaysia ($185M), Singapore ($107M), Thailand ($63M), Colombia ($48.2M), and Mauritius ($26.5M).

Between 2017 and 2018, the fastest growing importers of Palm oil, crude were Saudi Arabia ($204M), Spain ($114M), Singapore ($93.1M), Malaysia ($69.7M), and Cote d'Ivoire ($61.8M).

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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 Palm oil, crude.

In 2018,  market concentration measured using Shannon Entropy, was 2.63. This means that most of the exports of Palm oil, crude are explained by 6 countries.

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TOP NET EXPORTER (2018): Indonesia, $3.82B

TOP NET IMPORTER (2018): India, $3.56B

This map shows which countries export or import more of Palm oil, crude. Each country is colored based on the difference in exports and imports of Palm oil, crude during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Palm oil, crude were Indonesia ($3.82B), Malaysia ($2.13B), Guatemala ($353M), Papua New Guinea ($342M), and Honduras ($251M).

In 2018, the countries that had a largest trade value in imports than in exports of Palm oil, crude were India ($3.56B), Netherlands ($1.34B), Spain ($484M), Italy ($383M), and Kenya ($278M).

Trade Forecasts

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This section shows forecasts for total trade for Palm oil, crude. 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 Palm oil, crude was 7.41%.  The countries with the highest tariffs for importing Palm oil, crude were Thailand (139%), Jamaica (40%), Venezuela (38.3%), Belize (38.2%), and Barbados (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.