Sometimes called hash oil, cannabis oil is a concentrated form of the cannabis plant typically consumed by smoking, vaporizing, eating or absorption through the skin. Besides recreation, cannabis is used to help relieve pain, anxiety and nausea among a growing number of other medicinal applications subject to scientific testing. Innovative uses for cannabis oils include beauty and skin care goods, beverages, chocolates and even cannabis dog treats according to TheStreet writer Steve Fiorillo.
Among continents, Asian countries sold the highest dollar worth of exported cannabis oils during 2018 with shipments valued at $1.4 billion or 48.8% of the global total. In second place were European exporters at 30.6% while 13.8% of worldwide cannabis oils shipments originated from North America. Smaller percentages came from Africa (4%) trailed by Latin America (2.1%) excluding Mexico but including the Caribbean, then Oceania (0.5%) led by Australia.
The 6-digit Harmonized Tariff System code prefix is 130219 for cannabis oils, extracts and tinctures.
Top Cannabis Oils Exports by Country
Top 15
Below are the 15 countries that exported the highest dollar value worth of cannabis oils during 2018.
- China: US$912.3 million (32.3% of exported cannabis oils)
- United States: $308.5 million (10.9%)
- India: $283.9 million (10.1%)
- Germany: $238 million (8.4%)
- Spain: $170.1 million (6%)
- Netherlands: $101 million (3.6%)
- Switzerland: $87.5 million (3.1%)
- Italy: $79.8 million (2.8%)
- South Korea: $58.8 million (2.1%)
- Mexico: $51.2 million (1.8%)
- Vietnam: $37.7 million (1.3%)
- Madagascar: $37.1 million (1.3%)
- Ireland: $36.2 million (1.3%)
- Belgium: $35.7 million (1.3%)
- Canada: $30.9 million (1.1%)
The listed 15 countries shipped 87.5% of all cannabis oils exported in 2018 by value.
Among the top exporters, the fastest-growing cannabis oils exporters since 2014 were: Vietnam (up 1,167%), Madagascar (up 626.8%), Netherlands (up 310.5%) and United States (up 78.7%).
Two top countries that posted declines in their exported cannabis oils sales namely Italy (down -38.3%) and Ireland (down -6.7%).
Advantages
The following countries posted the highest positive net exports for cannabis oils during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s exported cannabis oils and its import purchases for that same commodity.
- China: US$852.3 million (net export surplus up 28.2% since 2014)
- India: $250.1 million (up 6.3%)
- Spain: $99.9 million (up 44.9%)
- Madagascar: $37.1 million (up 640.6%)
- Switzerland: $36 million (down -2.4%)
- Netherlands: $24.8 million (reversing a -$1.4 million deficit)
- Mexico: $21.3 million (down -17%)
- Vietnam: $19.2 million (reversing a -$5.7 million deficit)
- Egypt: $12.8 million (down -79.5%)
- Morocco: $7.3 million (up 61%)
- Dominican Republic: $7.1 million (up 10.7%)
- Chile: $6.7 million (up 26.9%)
- South Africa: $6.6 million (reversing a -$695,000 deficit)
- Kenya: $5 million (up 173.7%)
- Slovenia: $4.8 million (reversing a -$1.3 million deficit)
China has the highest surplus in the international trade of cannabis oils. In turn, this positive cashflow confirms China’s strong competitive advantage for this specific product category.
Opportunities
The following countries posted the highest negative net exports for cannabis oils during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s imported cannabis oils purchases and its exports for that same commodity.
- United States: -US$563 million (net export deficit up 36% since 2014)
- Japan: -$156.9 million (up 22.9%)
- France: -$148.6 million (up 18.7%)
- South Korea: -$120.7 million (up 49.2%)
- Australia: -$67.9 million (up 96.2%)
- Hong Kong: -$56.3 million (up 593.7%)
- Germany: -$50.2 million (reversing a $5.2 million surplus)
- United Kingdom: -$49.7 million (up 28%)
- Canada: -$48.5 million (up 95.8%)
- Poland: -$33.3 million (up 19.5%)
- Thailand: -$28.5 million (down -5.8%)
- Taiwan: -$26.3 million (up 0.6%)
- Indonesia: -$24.4 million (down -11.8%)
- Russia: -$21.8 million (up 68.7%)
- Austria: -$21.5 million (up 46.8%)
The United States incurred the highest deficit in the international trade of cannabis oils. In turn, this negative cashflow highlights America’s competitive disadvantage for this specific product category but also signals opportunities for cannabis oils-supplying countries that help satisfy the powerful worldwide demand.
Companies
Cannabis-related Companies
Below are emerging companies that represent fast-growing players engaged in the international and domestic trade of cannabis oils and marijuana related products. The city home to the headquarters for each company is shown within parentheses.
- Aphria (Leamington, Ontario, Canada)
- Aurora Cannabis (Edmonton, Alberta, Canada)
- CannTrust Holdings (Vaughan, Ontario, Canada)
- Canopy Growth Corp (Smith Falls, Ontario, Canada)
- Emerald Health Therapeutics (Victoria, BC, Canada)
- General Cannabis Corp (Denver, Colorado, US)
- GW Pharmaceuticals plc (Cambridge, United Kingdom)
- Hydropothecary Corp (Gatineau, Québec, Canada)
- MedReleaf (Markham, Ontario, Canada)
- NightFood Holdings, Inc (Tarrytown, New York, US)
- Terra Tech Corp (Irvine, California, US)
Searchable List of Cannabis Oils Exporters in 2018
You can change the presentation order by clicking the triangle icon at the top of the columns.
| Rank | Exporter | Cannabis Oils Exports (US$) | %World Total |
|---|---|---|---|
| 1. | China | $912.3 million | 32.3% |
| 2. | United States | $308.5 million | 10.9% |
| 3. | India | $283.9 million | 10.1% |
| 4. | Germany | $238 million | 8.4% |
| 5. | Spain | $170.1 million | 6% |
| 6. | Netherlands | $101 million | 3.6% |
| 7. | Switzerland | $87.5 million | 3.1% |
| 8. | Italy | $79.8 million | 2.8% |
| 9. | South Korea | $58.8 million | 2.1% |
| 10. | Mexico | $51.2 million | 1.8% |
| 11. | Vietnam | $37.7 million | 1.3% |
| 12. | Madagascar | $37.1 million | 1.3% |
| 13. | Ireland | $36.2 million | 1.3% |
| 14. | Belgium | $35.7 million | 1.3% |
| 15. | Canada | $30.9 million | 1.1% |
| 16. | Morocco | $29 million | 1% |
| 17. | Brazil | $28.3 million | 1% |
| 18. | France | $26.4 million | 0.9% |
| 19. | Japan | $26.4 million | 0.9% |
| 20. | United Kingdom | $22.3 million | 0.8% |
| 21. | Singapore | $17.6 million | 0.6% |
| 22. | Slovenia | $17.6 million | 0.6% |
| 23. | Egypt | $16.5 million | 0.6% |
| 24. | South Africa | $14.5 million | 0.5% |
| 25. | Chile | $12.3 million | 0.4% |
| 26. | Australia | $11.9 million | 0.4% |
| 27. | Austria | $11.8 million | 0.4% |
| 28. | Israel | $9.1 million | 0.3% |
| 29. | Taiwan | $7.6 million | 0.3% |
| 30. | Dominican Republic | $7.5 million | 0.3% |
| 31. | Hong Kong | $7.3 million | 0.3% |
| 32. | Czech Republic | $7 million | 0.2% |
| 33. | Poland | $6.1 million | 0.2% |
| 34. | Kenya | $5.7 million | 0.2% |
| 35. | Thailand | $4.5 million | 0.2% |
| 36. | Democr. Rep. Congo | $4.3 million | 0.2% |
| 37. | Uruguay | $3.8 million | 0.1% |
| 38. | Rwanda | $3.7 million | 0.1% |
| 39. | Finland | $3.6 million | 0.1% |
| 40. | Laos | $3.4 million | 0.1% |
| 41. | Malaysia | $3.1 million | 0.1% |
| 42. | New Zealand | $3 million | 0.1% |
| 43. | Peru | $2.7 million | 0.1% |
| 44. | Russia | $2.7 million | 0.1% |
| 45. | Denmark | $2.1 million | 0.1% |
| 46. | Bulgaria | $1.8 million | 0.1% |
| 47. | Argentina | $1.7 million | 0.1% |
| 48. | Lithuania | $1.6 million | 0.1% |
| 49. | Greece | $1.5 million | 0.1% |
| 50. | Serbia | $1.4 million | 0.1% |
| 51. | Guatemala | $1.4 million | 0.05% |
| 52. | Indonesia | $1.3 million | 0.05% |
| 53. | Costa Rica | $1.3 million | 0.05% |
| 54. | Pakistan | $1.3 million | 0.04% |
| 55. | Luxembourg | $1.3 million | 0.04% |
| 56. | Congo | $1.2 million | 0.04% |
| 57. | Slovakia | $1.1 million | 0.04% |
| 58. | Croatia | $1.1 million | 0.04% |
| 59. | Colombia | $856,000 | 0.03% |
| 60. | Portugal | $843,000 | 0.03% |
| 61. | Sweden | $815,000 | 0.03% |
| 62. | Benin | $763,000 | 0.03% |
| 63. | Ukraine | $692,000 | 0.02% |
| 64. | Hungary | $679,000 | 0.02% |
| 65. | Turkey | $667,000 | 0.02% |
| 66. | Belarus | $627,000 | 0.02% |
| 67. | Romania | $619,000 | 0.02% |
| 68. | Latvia | $588,000 | 0.02% |
| 69. | Uganda | $511,000 | 0.02% |
| 70. | Malta | $450,000 | 0.02% |
| 71. | United Arab Emirates | $432,000 | 0.02% |
| 72. | Nepal | $415,000 | 0.01% |
| 73. | Iceland | $414,000 | 0.01% |
| 74. | Tunisia | $407,000 | 0.01% |
| 75. | Cyprus | $404,000 | 0.01% |
| 76. | Bhutan | $379,000 | 0.01% |
| 77. | Eswatini | $341,000 | 0.01% |
| 78. | Philippines | $290,000 | 0.01% |
| 79. | Venezuela | $244,000 | 0.01% |
| 80. | Jamaica | $185,000 | 0.01% |
| 81. | Sri Lanka | $155,000 | 0.01% |
| 82. | Albania | $122,000 | 0.004% |
| 83. | Estonia | $107,000 | 0.004% |
| 84. | Iran | $88,000 | 0.003% |
| 85. | Ecuador | $78,000 | 0.003% |
| 86. | Tanzania | $67,000 | 0.002% |
| 87. | Honduras | $66,000 | 0.002% |
| 88. | Norway | $51,000 | 0.002% |
| 89. | Guinea-Bissau | $44,000 | 0.002% |
| 90. | North Macedonia | $44,000 | 0.002% |
| 91. | Ivory Coast | $41,000 | 0.001% |
| 92. | Trinidad/Tobago | $37,000 | 0.001% |
| 93. | Namibia | $34,000 | 0.001% |
| 94. | Lesotho | $28,000 | 0.001% |
| 95. | El Salvador | $28,000 | 0.001% |
| 96. | Cameroon | $27,000 | 0.001% |
| 97. | Georgia | $24,000 | 0.001% |
| 98. | Uzbekistan | $23,000 | 0.001% |
| 99. | Bosnia/Herzegovina | $20,000 | 0.001% |
| 100. | Macao | $19,000 | 0.001% |
| 101. | Aruba | $18,000 | 0.001% |
| 102. | Afghanistan | $17,000 | 0.001% |
| 103. | North Korea | $16,000 | 0.001% |
| 104. | Saint Lucia | $15,000 | 0.001% |
| 105. | Moldova | $14,000 | 0.0005% |
| 106. | Kazakhstan | $14,000 | 0.0005% |
| 107. | Senegal | $11,000 | 0.0004% |
| 108. | Nigeria | $9,000 | 0.0003% |
| 109. | Panama | $8,000 | 0.0003% |
| 110. | Vanuatu | $7,000 | 0.0002% |
| 111. | Timor-Leste | $7,000 | 0.0002% |
| 112. | Saudi Arabia | $5,000 | 0.0002% |
| 113. | Guinea | $5,000 | 0.0002% |
| 114. | Faroe Islands | $5,000 | 0.0002% |
| 115. | Dominica | $3,000 | 0.0001% |
| 116. | Cambodia | $3,000 | 0.0001% |
| 117. | Oman | $3,000 | 0.0001% |
| 118. | Lebanon | $3,000 | 0.0001% |
| 119. | Mauritius | $2,000 | 0.0001% |
| 120. | Paraguay | $2,000 | 0.0001% |
| 121. | Syrian Arab Republic | $2,000 | 0.0001% |
| 122. | Somalia | $2,000 | 0.0001% |
| 123. | US Minor Outlying Is | $2,000 | 0.0001% |
| 124. | Togo | $1,000 | 0.00004% |
| 125. | Tonga | $1,000 | 0.00004% |
| 126. | Nicaragua | $1,000 | 0.00004% |
| 127. | Bolivia | $1,000 | 0.00004% |
| 128. | Fiji | $1,000 | 0.00004% |
| 129. | French Polynesia | $1,000 | 0.00004% |
See also Drugs and Medicine Exports by Country, Heart Pacemaker Export Sales by Country and Cannabis Oils Imports by Country
Research Sources:
Cision, Companies That Stand to Benefit From Record Growth in CBD Market (press release). Accessed on October 14, 2018
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 15, 2019
Investopedia, Net Exports Definition. Accessed on May 15, 2019
The Motley Fool, The 10 Largest Marijuana Stocks by Sean Williams. Accessed on October 14, 2018
The Street, 5 Cannabis Products on the Rise in 2018 by Steve Fiorillo. Accessed on October 14, 2018
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on May 15, 2019
Trade Map, International Trade Centre. Accessed on May 15, 2019
Wikipedia, Hash oil. Accessed on October 14, 2018