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2022
Exports $5.35BWorld Rnk 9 / 210
Flag Rnk 40 / 96
2022
Destination $286M Canada
2021 - 2022
FASTEST GROWING MARKET $286MCanada
2022
PRODUCT COMPLEXITY IN Animal or vegetable fats, oils, & waxes0.8Rnk 244 / 1025
2022
Imports $15.2BWorld Rnk 3 / 224
Flag Rnk 31 / 96
2022
Origin $1.52B Canada
2021 - 2022
FASTEST GROWING ORIGIN $1.52BCanada
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $5.35B in Animal or vegetable fats, oils, & waxes, making it the 9th largest exporter of Animal or vegetable fats, oils, & waxes in the world. At the same year, Animal or vegetable fats, oils, & waxes was the 40th most exported product in United States. The main destination of Animal or vegetable fats, oils, & waxes exports from United States are: Canada ($1.1B), Mexico ($779M), Singapore ($618M), Kuwait ($330M), and Netherlands ($262M).

The fastest growing export markets for Animal or vegetable fats, oils, & waxes of United States between 2021 and 2022 were Canada ($286M), Kuwait ($199M), and India ($128M).

Imports In 2022, United States imported $15.2B in Animal or vegetable fats, oils, & waxes, becoming the 3rd largest importer of Animal or vegetable fats, oils, & waxes in the world. At the same year, Animal or vegetable fats, oils, & waxes was the 31st most imported product in United States. United States imports Animal or vegetable fats, oils, & waxes primarily from: Canada ($5.26B), Indonesia ($3.59B), Spain ($915M), Malaysia ($695M), and Italy ($692M).

The fastest growing import markets in Animal or vegetable fats, oils, & waxes for United States between 2021 and 2022 were Canada ($1.52B), Indonesia ($1.02B), and Australia ($238M).

COMPANIES In 2023, leading companies such as Certified Origins (1.52k), Filippo Berio (661), and Chevron (344) were at the forefront of shipping Animal or vegetable fats, oils, & waxes to the United States.

Latest Trends

June 2024

About

Overview In June 2024 United States' Animal or vegetable fats, oils, & waxes exports accounted up to $258M and imports accounted up to $1.34B, resulting in a negative trade balance of $1.08B. Between June 2023 and June 2024 the exports of United States'   Animal or vegetable fats, oils, & waxes have increased by $43.3M (20.2%) from $214M to $258M, while imports increased by $322M (31.6%) from $1.02B to $1.34B.

Destinations In June 2024, Animal or vegetable fats, oils, & waxes were exported mostly to Canada ($112M), Mexico ($42.6M), Colombia ($15M), South Korea ($14.6M), and Belgium ($10.4M), and were imported mostly from Canada ($349M), Spain ($185M), Indonesia ($184M), Italy ($104M), and China ($103M).

Growth In June 2024, the increase in Animal or vegetable fats, oils, & waxes's year-by-year exports was explained primarily by an increase in exports to Japan ($2.57M or 251%), Ethiopia ($1.71M or 148%), and Chile ($1.61M or 130%). In June 2024, the increase in Animal or vegetable fats, oils, & waxes's year-by-year imports was explained primarily by an increase in imports from Canada ($202M or 63.9%), China ($43.5M or 652%), and Turkey ($35.5M or 299%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$43.3M(20.2%)
IMPORT GROWTH (June 2023 - June 2024)$322M(31.6%)
MAIN EXPORTER (June 2024)Louisiana$65.2M
MAIN DESTINATION (June 2024)Canada$112M

This section shows Animal or vegetable fats, oils, & waxes's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Animal or vegetable fats, oils, & waxes over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$5.35B
IMPORTS (2022)$15.2B
NET TRADE (2022)-$9.89B

In 2022, United States exported $5.35B in Animal or vegetable fats, oils, & waxes. The main destinations of United States exports on Animal or vegetable fats, oils, & waxes were Canada ($1.1B), Mexico ($779M), Singapore ($618M), Kuwait ($330M), and Netherlands ($262M).

In 2022, United States imported $15.2B in Animal or vegetable fats, oils, & waxes, mainly from Canada ($5.26B), Indonesia ($3.59B), Spain ($915M), Malaysia ($695M), and Italy ($692M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Animal or vegetable fats, oils, & waxes EXPORT MARKETS FOR United States WERE (2021 - 2022):
Canada$286M (35.1%)
Kuwait$199M (152%)
India$128M (106%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Animal or vegetable fats, oils, & waxes BY United States WERE (2021 - 2022):
Singapore-$249M (-28.7%)
United Kingdom-$77.6M (-60.8%)
South Korea-$53.6M (-19.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Animal or vegetable fats, oils, & waxes were:
Indonesia $44.7B
Malaysia $27.9B
Netherlands $9.75B
In 2022, United States's main importing competitors in Animal or vegetable fats, oils, & waxes were:
India $22.3B
China $16.6B

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Trade Value of Animal or vegetable fats, oils, & waxes by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $57.9M
TOP IMPORT POTENTIALMalaysia+ $129M

Animal or vegetable fats, oils, & waxes’s highest export potential is India. With an export gap of $57.9M.   Animal or vegetable fats, oils, & waxes’s highest import potential is Malaysia with an import gap of $129M.

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