Palm Oil (HS: 1511) Product Trade, Exporters and Importers | The Observatory of Economic Complexity
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About
Overview This page contains the latest trade data of Palm Oil. In 2022, Palm Oil were the world's 79th most traded product, with a total trade of $58.1B. Between 2021 and 2022 the exports of Palm Oil grew by 11.1%, from $52.3B to $58.1B. Trade in Palm Oil represent 0.25% of total world trade.
Palm Oil are a part of Animal or vegetable fats, oils, & waxes. They include Palm oil or fractions simply refined and Palm oil, crude.
Exports In 2022 the top exporters of Palm Oil were Indonesia ($28.7B), Malaysia ($17.7B), Thailand ($1.31B), Netherlands ($1.18B), and Papua New Guinea ($1.03B).
Imports In 2022 the top importers of Palm Oil were India ($11.1B), China ($4.85B), Pakistan ($3.8B), Netherlands ($2.49B), and United States ($2.22B).
Ranking Palm Oil ranks 1018th in the Product Complexity Index (PCI).
Latest Data
The following visualization shows the latest trends on Palm 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.
* 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.
Exporters and Importers
Top Destination (2022)India$11.1B
In 2022 Palm Oil were the world's 79th most traded product (out of 1,218).
In 2022, the top exporters of Palm Oil were Indonesia ($28.7B), Malaysia ($17.7B), Thailand ($1.31B), Netherlands ($1.18B), and Papua New Guinea ($1.03B).
In 2022, the top importers of Palm Oil were India ($11.1B), China ($4.85B), Pakistan ($3.8B), Netherlands ($2.49B), and United States ($2.22B).
Market Dynamics
Between 2021 and 2022, the exports of Palm Oil grew the fastest in Malaysia ($2.52B), Indonesia ($1.25B), Thailand ($591M), Guatemala ($224M), and Colombia ($206M).
Between 2021 and 2022, the fastest growing importers of Palm Oil were India ($2.33B), Turkey ($451M), Pakistan ($444M), United States ($431M), and Bangladesh ($319M).
Market Concentration
This chart shows the evolution of the market concentration of exports of Palm Oil.
In 2022, market concentration measured using Shannon Entropy, was 2.46. This means that most of the exports of Palm Oil are explained by 5 countries.
Net Trade
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 2022.
In 2022, the countries that had a largest trade value in exports than in imports of Palm Oil were Indonesia ($28.7B), Malaysia ($16.2B), Thailand ($1.3B), Papua New Guinea ($971M), and Guatemala ($888M).
In 2022, the countries that had a largest trade value in imports than in exports of Palm Oil were India ($11.1B), China ($4.82B), Pakistan ($3.8B), United States ($2.1B), and Bangladesh ($1.77B).
Diversification Frontier
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.