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Oils and their fractions n.e.c. in chapter 15, obtained solely from olives, whether or not refined, but not chemically modified, including blends of these oils or fractions with oils or fractions of heading no. 1509

1510 (Harmonized System 1992 for 4-digit)

2023
World Trade $707MRnk 989 / 1217
2023
Top Exporter | Top Importer $320M | $187MSpain | Spain
2023
Product Complexity -0.42Rnk 698 / 1044
2022 - 2023
Export Growth (CAGR) 22.2%Rnk 52 / 1217
2023
Share of World Trade 0.0031%Rnk 989 / 1217

About

Overview This page contains the latest trade data of Olive Oil. In 2023, Olive Oil were the world's 989th most traded product, with a total trade of $707M. Between 2022 and 2023 the exports of Olive Oil grew by 22.2%, from $579M to $707M. Trade in Olive Oil represent 0.0031% of total world trade.

Olive Oil are a part of Animal or vegetable fats, oils, & waxes. They include Olive oil, fractions, blends, not chemically modified.

Exports In 2023 the top exporters of Olive Oil  were Spain ($320M), Greece ($120M), Italy ($114M), Portugal ($57.2M), and Tunisia ($33.3M).

Imports In 2023 the top importers of Olive Oil were Spain ($187M), Italy ($96.9M), United States ($55.4M), Portugal ($54.2M), and Saudi Arabia ($23.2M).

Ranking Olive Oil ranks 698th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

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

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Spain$320M
Top Destination (2023)Spain$187M

In 2023 Olive Oil were the world's 989th most traded product (out of 1,217).

In 2023, the top exporters of Olive Oil were Spain ($320M), Greece ($120M), Italy ($114M), Portugal ($57.2M), and Tunisia ($33.3M).

In 2023, the top importers of Olive Oil were Spain ($187M), Italy ($96.9M), United States ($55.4M), Portugal ($54.2M), and Saudi Arabia ($23.2M).

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Exporters of Olive Oil (2023)
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Importers of Olive Oil (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Greece$47.3M
Top Destination Growth (2022 -  2023)Spain$75.2M

Between 2022 and 2023, the exports of Olive Oil grew the fastest in Greece ($47.3M), Spain ($32.5M), Portugal ($19.6M), Italy ($16.2M), and Tunisia ($15.2M).

Between 2022 and 2023, the fastest growing importers of Olive Oil were Spain ($75.2M), Italy ($17.8M), United States ($15M), Saudi Arabia ($7.08M), and Qatar ($5.07M).

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Exporters of Olive Oil (2022 - 2023)

Importers of Olive Oil (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Olive Oil.

In 2023, market concentration measured using Shannon Entropy, was 2.45. This means that most of the exports of Olive Oil are explained by 5 countries.

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Value of Exports in Olive Oil

Net Trade

TOP NET EXPORTER (2023)Spain$133M
TOP NET IMPORTER (2023)United States$54.8M

This map shows which countries export or import more of Olive Oil. Each country is colored based on the difference in exports and imports of Olive Oil during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Olive Oil were Spain ($133M), Greece ($115M), Tunisia ($31.5M), Turkey ($30.9M), and Italy ($17.1M).

In 2023, the countries that had a largest trade value in imports than in exports of Olive Oil were United States ($54.8M), Saudi Arabia ($23.1M), United Kingdom ($18.1M), South Korea ($16.3M), and United Arab Emirates ($15.8M).

Net Trade (2023)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Olive Oil.
It is possible to select the main countries that export or import Olive Oil in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Olive Oil by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALFrance+ $1.12M
TOP IMPORT POTENTIALTurkey+ $454k

Olive Oil’s highest export potential is France. With an export gap of $1.12M.  Olive Oil’s highest import potential is Turkey with an import gap of $454k.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

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.

Relatedness vs Country Complexity (2023)

Country by Relatedness

The following visualization shows the relatedness of Olive Oil to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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