Marijuana plant (Pixabay)
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 accounted for the highest dollar worth of exported cannabis oils during 2017 with shipments valued at $1.2 billion or 51% of the global total. In second place were European exporters at 26.6% while 12.5% of worldwide cannabis oils shipments originated from North America. Smaller percentages came from Africa (3.9%) trailed by the Mideast (2.4%), Latin America (2.2%) excluding Mexico then Oceania (0.5%).
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 2017.
- China: US$791.2 million (32.4% of exported cannabis oils)
- India: $254.4 million (10.4%)
- United States: $228.5 million (9.4%)
- Germany: $212 million (8.7%)
- Spain: $145.1 million (5.9%)
- Italy: $80.6 million (3.3%)
- Switzerland: $73.2 million (3%)
- South Korea: $59 million (2.4%)
- Mexico: $46.4 million (1.9%)
- Netherlands: $43.9 million (1.8%)
- Ireland: $43.4 million (1.8%)
- Madagascar: $39.4 million (1.6%)
- Vietnam: $37.7 million (1.5%)
- Belgium: $32.4 million (1.3%)
- Canada: $30.4 million (1.2%)
The listed 15 countries shipped 86.7% of all cannabis oils exported in 2017 by value.
Among the top exporters, the fastest-growing cannabis oils exporters since 2013 were: Madagascar (up 446.8%), Vietnam (up 367.5%), Netherlands (up 71.3%) and Belgium (up 67.3%).
Three countries posted declines in their export sales of cannabis oils: Italy (down -29%), India (down -0.2%) and Switzerland (down -0.2%).
Advantages
The following countries posted the highest positive net exports for cannabis oils during 2017. 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$738.9 million (net export surplus up 33% since 2013)
- India: $224.4 million (down -3.6%)
- Spain: $79.1 million (up 43.7%)
- Madagascar: $39.4 million (up 492.9%)
- Switzerland: $27.7 million (down -34%)
- Mexico: $23.7 million (up 188.9%)
- Vietnam: $21.5 million (up 778.8%)
- Egypt: $17 million (down -77%)
- Ireland: $14.2 million (down -39.3%)
- Morocco: $12.2 million (reversing a -$1.1 million deficit)
- Chile: $7.8 million (up 280.2%)
- Dominican Republic: $6.2 million (down -47%)
- Democratic Rep. Congo: $5.1 million (reversing a -$1.2 million deficit)
- Netherlands: $4.4 million (up 43.7%)
- Iran: $4.2 million (reversing a -$7.2 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 2017. 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$535 million (net export deficit up 26.2% since 2013)
- France: -$129.6 million (up 5.6%)
- Japan: -$124.6 million (down -14.1%)
- South Korea: -$117.3 million (up 34.4%)
- Australia: -$48.6 million (up 46.8%)
- Canada: -$45.6 million (up 115.2%)
- United Kingdom: -$41 million (up 41.1%)
- Hong Kong: -$30.7 million (up 271.9%)
- Poland: -$28.5 million (up 80.2%)
- Thailand: -$26.5 million (up 19.3%)
- Taiwan: -$26 million (up 8.4%)
- Indonesia: -$20.7 million (down -6.5%)
- Romania: -$20.1 million (up 77.3%)
- Malaysia: -$17.9 million (down -1.2%)
- Brazil: -$17.5 million (up 95.2%)
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
You can change the presentation order by clicking the triangle icon at the top of the columns.
| Rank | Exporter | 2017 Cannabis Oils Exports | %Total |
|---|---|---|---|
| 1. | China | $791.2 million | 32.4% |
| 2. | India | $254.4 million | 10.4% |
| 3. | United States | $228.5 million | 9.4% |
| 4. | Germany | $212 million | 8.7% |
| 5. | Spain | $145.1 million | 5.9% |
| 6. | Italy | $80.6 million | 3.3% |
| 7. | Switzerland | $73.2 million | 3% |
| 8. | South Korea | $59 million | 2.4% |
| 9. | Mexico | $46.4 million | 1.9% |
| 10. | Netherlands | $43.9 million | 1.8% |
| 11. | Ireland | $43.4 million | 1.8% |
| 12. | Madagascar | $39.4 million | 1.6% |
| 13. | Vietnam | $37.7 million | 1.5% |
| 14. | Belgium | $32.4 million | 1.3% |
| 15. | Canada | $30.4 million | 1.2% |
| 16. | Brazil | $26.3 million | 1.1% |
| 17. | Japan | $23.1 million | 0.9% |
| 18. | France | $22.1 million | 0.9% |
| 19. | Egypt | $20.5 million | 0.8% |
| 20. | United Kingdom | $20.3 million | 0.8% |
| 21. | Morocco | $19.2 million | 0.8% |
| 22. | Singapore | $16.8 million | 0.7% |
| 23. | Chile | $13.1 million | 0.5% |
| 24. | Slovenia | $13 million | 0.5% |
| 25. | Israel | $12.6 million | 0.5% |
| 26. | United Arab Emirates | $11.7 million | 0.5% |
| 27. | Iran | $10.5 million | 0.4% |
| 28. | Australia | $8.8 million | 0.4% |
| 29. | Austria | $8.1 million | 0.3% |
| 30. | South Africa | $7.1 million | 0.3% |
| 31. | Dominican Republic | $6.9 million | 0.3% |
| 32. | Czech Republic | $6.8 million | 0.3% |
| 33. | Hong Kong | $5.5 million | 0.2% |
| 34. | Poland | $5.4 million | 0.2% |
| 35. | Democratic Rep. Congo | $5.1 million | 0.2% |
| 36. | Taiwan | $4.4 million | 0.2% |
| 37. | Malaysia | $3.6 million | 0.1% |
| 38. | Russia | $3.4 million | 0.1% |
| 39. | Laos | $3.3 million | 0.1% |
| 40. | Saudi Arabia | $3.1 million | 0.1% |
| 41. | Thailand | $3.1 million | 0.1% |
| 42. | New Zealand | $3 million | 0.1% |
| 43. | Finland | $2.4 million | 0.1% |
| 44. | Rwanda | $2.2 million | 0.1% |
| 45. | Peru | $2 million | 0.1% |
| 46. | Lithuania | $1.9 million | 0.1% |
| 47. | Denmark | $1.9 million | 0.1% |
| 48. | Bulgaria | $1.8 million | 0.1% |
| 49. | Greece | $1.7 million | 0.1% |
| 50. | Guatemala | $1.7 million | 0.1% |
| 51. | Indonesia | $1.5 million | 0.1% |
| 52. | Uruguay | $1.4 million | 0.1% |
| 53. | Luxembourg | $1.4 million | 0.1% |
| 54. | Botswana | $1.4 million | 0.1% |
| 55. | Pakistan | $1.3 million | 0.1% |
| 56. | Serbia | $1.3 million | 0.1% |
| 57. | Malta | $1.2 million | 0.1% |
| 58. | Sweden | $1.2 million | 0.1% |
| 59. | Argentina | $1.2 million | 0.05% |
| 60. | Portugal | $818,000 | 0.03% |
| 61. | Slovakia | $798,000 | 0.03% |
| 62. | Turkey | $771,000 | 0.03% |
| 63. | Tunisia | $743,000 | 0.03% |
| 64. | Belarus | $610,000 | 0.02% |
| 65. | Colombia | $564,000 | 0.02% |
| 66. | Philippines | $561,000 | 0.02% |
| 67. | Kenya | $480,000 | 0.02% |
| 68. | Croatia | $451,000 | 0.02% |
| 69. | Cyprus | $440,000 | 0.02% |
| 70. | Romania | $388,000 | 0.02% |
| 71. | Ukraine | $378,000 | 0.02% |
| 72. | Venezuela | $377,000 | 0.02% |
| 73. | Hungary | $325,000 | 0.01% |
| 74. | Latvia | $297,000 | 0.01% |
| 75. | Afghanistan | $265,000 | 0.01% |
| 76. | Honduras | $231,000 | 0.01% |
| 77. | Burkina Faso | $156,000 | 0.01% |
| 78. | Ecuador | $135,000 | 0.01% |
| 79. | Costa Rica | $124,000 | 0.01% |
| 80. | Norway | $111,000 | 0.005% |
| 81. | Oman | $102,000 | 0.004% |
| 82. | Kuwait | $90,000 | 0.004% |
| 83. | Tanzania | $86,000 | 0.004% |
| 84. | Georgia | $77,000 | 0.003% |
| 85. | Macao | $73,000 | 0.003% |
| 86. | Armenia | $66,000 | 0.003% |
| 87. | Uzbekistan | $62,000 | 0.003% |
| 88. | Estonia | $58,000 | 0.002% |
| 89. | El Salvador | $42,000 | 0.002% |
| 90. | Jamaica | $42,000 | 0.002% |
| 91. | Ghana | $37,000 | 0.002% |
| 92. | Swaziland | $36,000 | 0.001% |
| 93. | Gabon | $34,000 | 0.001% |
| 94. | Côte d'Ivoire | $33,000 | 0.001% |
| 95. | Sri Lanka | $23,000 | 0.001% |
| 96. | Fiji | $21,000 | 0.001% |
| 97. | Moldova | $19,000 | 0.001% |
| 98. | Nepal | $17,000 | 0.001% |
| 99. | Jordan | $15,000 | 0.001% |
| 100. | Trinidad/Tobago | $14,000 | 0.001% |
| 101. | Lebanon | $10,000 | 0.0004% |
| 102. | Namibia | $9,000 | 0.0004% |
| 103. | Curaçao | $9,000 | 0.0004% |
| 104. | Papua New Guinea | $9,000 | 0.0004% |
| 105. | Nigeria | $8,000 | 0.0003% |
| 106. | Panama | $7,000 | 0.0003% |
| 107. | Nicaragua | $6,000 | 0.0002% |
| 108. | Mauritius | $6,000 | 0.0002% |
| 109. | Chad | $6,000 | 0.0002% |
| 110. | Cambodia | $5,000 | 0.0002% |
| 111. | Algeria | $5,000 | 0.0002% |
| 112. | Bangladesh | $5,000 | 0.0002% |
| 113. | Turkmenistan | $5,000 | 0.0002% |
| 114. | Qatar | $3,000 | 0.0001% |
| 115. | Cook Islands | $3,000 | 0.0001% |
| 116. | Palestine | $3,000 | 0.0001% |
| 117. | Bosnia/Herzegovina | $2,000 | 0.0001% |
| 118. | Syrian Arab Republic | $2,000 | 0.0001% |
| 119. | Niue | $2,000 | 0.0001% |
| 120. | Macedonia | $1,000 | 0.00004% |
| 121. | Senegal | $1,000 | 0.00004% |
| 122. | Bhutan | $1,000 | 0.00004% |
| 123. | Cameroon | $1,000 | 0.00004% |
| 124. | 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
Investopedia, Net Exports Definition. Accessed on October 14, 2018
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 October 14, 2018
Trade Map, International Trade Centre. Accessed on October 14, 2018
Wikipedia, Hash oil. Accessed on October 14, 2018
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