2023
Exports
$14.9MWorld Rnk 49 / 150
Flag Rnk 451 / 1200
2023
PRODUCT COMPLEXITY IN Palm Oil
-2.25Rnk 1010 / 1025
2023
Imports
$855MWorld Rnk 13 / 206
Flag Rnk 46 / 1186
2023
ECONOMIC COMPLEXITY of Russia
0.3Rnk 50 / 132

About

Exports In 2023, Russia exported $14.9M in Palm Oil, making it the 49th largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 451st most exported product in Russia. The main destination of Palm Oil exports from Russia are: Kazakhstan ($12.7M), Uzbekistan ($1.31M), Armenia ($587k), Kyrgyzstan ($255k), and Moldova ($36.9k).

The fastest growing export markets for Palm Oil of Russia between 2022 and 2023 were Uzbekistan ($324k), Moldova ($11.9k), and Azerbaijan ($7.05k).

Imports In 2023, Russia imported $855M in Palm Oil, becoming the 13th largest importer of Palm Oil in the world. At the same year, Palm Oil was the 46th most imported product in Russia. Russia imports Palm Oil primarily from: Indonesia ($445M), Estonia ($375M), Turkey ($18M), Netherlands ($7.87M), and Italy ($6.33M).

The fastest growing import markets in Palm Oil for Russia between 2022 and 2023 were Estonia ($38.7M), Netherlands ($7.42M), and Italy ($498k).

COMPANIES In 2021, leading companies such as Chevron (7) were at the forefront of shipping Palm Oil from Russia to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Palm Oil. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$14.9M
IMPORTS (2023)$855M
NET TRADE (2023)-$840M

In 2023, Russia exported $14.9M in Palm Oil. The main destinations of Russia exports on Palm Oil were Kazakhstan ($12.7M), Uzbekistan ($1.31M), Armenia ($587k), Kyrgyzstan ($255k), and Moldova ($36.9k).

In 2023, Russia imported $855M in Palm Oil, mainly from Indonesia ($445M), Estonia ($375M), Turkey ($18M), Netherlands ($7.87M), and Italy ($6.33M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Palm Oil EXPORT MARKETS FOR Russia WERE (2022 - 2023):
Uzbekistan$324k (33%)
Moldova$11.9k (47.4%)
Azerbaijan$7.05k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY Russia WERE (2022 - 2023):
Kazakhstan-$12.1M (-48.8%)
Kyrgyzstan-$770k (-75.1%)
Mongolia-$220k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Russia's main exporting competitors in Palm Oil were:
In 2023, Russia's main importing competitors in Palm Oil were:
India $8.7B
China $4.85B

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Trade Value of Palm Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALItaly+ $152k
TOP IMPORT POTENTIALIndonesia+ $30.4M

Palm Oil’s highest export potential is Italy. With an export gap of $152k.   Palm Oil’s highest import potential is Indonesia with an import gap of $30.4M.

See methodology.

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