Commonly 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, suppliers located in Asian countries sold the highest dollar worth of exported cannabis oils on international markets during 2019 with shipments valued at $1.5 billion or 51.9% of the global total. In second place were European exporters at 29.2% while 12.7% of worldwide shipments of cannabis oils originated from North America. Smaller percentages came from Africa (3.5%) trailed by Latin America (2.1%) excluding Mexico but including the Caribbean, then Oceania (0.6%) mostly Australia.
For research purposes, 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 2019.
- China: US$964 million (33.4% of exported cannabis oils)
- India: $320.8 million (11.1%)
- United States: $309.7 million (10.7%)
- Germany: $229.8 million (8%)
- Spain: $190.5 million (6.6%)
- Italy: $99 million (3.4%)
- Switzerland: $72.8 million (2.5%)
- South Korea: $59.7 million (2.1%)
- Netherlands: $59.6 million (2.1%)
- Vietnam: $54.3 million (1.9%)
- Canada: $38 million (1.3%)
- Belgium: $37.3 million (1.3%)
- Madagascar: $34.7 million (1.2%)
- Morocco: $30.4 million (1.1%)
- Brazil: $29.7 million (1%)
By value, the listed 15 countries shipped 87.6% of global cannabis oils exported in 2019.
Among the top exporters, the fastest-growing exporters of cannabis oils since 2015 were: Vietnam (up 529.5%), Madagascar (up 232.2%), Morocco (up 218.1%) and Netherlands (up 124.5%).
Italy was sole top supplier to experience a sales decline in its exported cannabis oils, thanks to a -16.5% drop over the 5-year period.
Advantages
The following countries posted the highest positive net exports for cannabis oils during 2019. 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$883.1 million (net export surplus up 29.8% since 2015)
- India: $281.4 million (up 15.8%)
- Spain: $103.8 million (up 88.2%)
- Vietnam: $36.8 million (reversing a -$1.8 million deficit)
- Madagascar: $34.2 million (up 227.5%)
- Switzerland: $20.6 million (down -23.8%)
- Kenya: $9.2 million (up 489.2%)
- Dominican Republic: $7.6 million (down -16.1%)
- Morocco: $7 million (up 9.1%)
- Laos: $6.9 million (no 2015 data)
- Chile: $6.7 million (down -3.6%)
- Tanzania: $6.2 million (reversing a -$54,000 deficit)
- Rwanda: $5.1 million (reversing a -$2,000 deficit)
- Mexico: $4.7 million (down -75.3%)
- Slovenia: $3.8 million (up 123.3%)
China generated 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 2019. 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$583.4 million (net export deficit up 27.7% since 2015)
- South Korea: -$148 million (up 113.1%)
- Japan: -$130.6 million (up 16.4%)
- France: -$130.5 million (up 23.4%)
- Australia: -$54 million (up 5.8%)
- Hong Kong: -$51.3 million (up 679.9%)
- United Kingdom: -$45.8 million (up 30.5%)
- Canada: -$42.4 million (up 36.6%)
- Poland: -$33.4 million (up 44.8%)
- Taiwan: -$33.1 million (up 81.6%)
- Austria: -$27.4 million (up 84.3%)
- Thailand: -$27.2 million (up 9%)
- Indonesia: -$23.8 million (up 5.1%)
- Malaysia: -$21.8 million (up 19.5%)
- Ireland: -$21.1 million (reversing a $28.6 million surplus)
The United States of America incurred the highest deficit in the international trade of cannabis oils. In turn, this negative cashflow highlights America’s competitive disadvantage for this specific product category but also signals opportunities for cannabis oils-supplying countries that help satisfy the powerful worldwide demand.
Companies
Cannabis-related Companies
Below are emerging companies that represent fast-growing players engaged in the international and domestic trade of cannabis oils and marijuana related products. The city home to the headquarters for each company is shown within parentheses.
- Aphria (Leamington, Ontario, Canada)
- Aurora Cannabis (Edmonton, Alberta, Canada)
- CannTrust Holdings (Vaughan, Ontario, Canada)
- Canopy Growth Corp (Smith Falls, Ontario, Canada)
- Emerald Health Therapeutics (Victoria, BC, Canada)
- General Cannabis Corp (Denver, Colorado, US)
- GW Pharmaceuticals plc (Cambridge, United Kingdom)
- Hydropothecary Corp (Gatineau, Québec, Canada)
- MedReleaf (Markham, Ontario, Canada)
- NightFood Holdings, Inc (Tarrytown, New York, US)
- Terra Tech Corp (Irvine, California, US)
Searchable List of Cannabis Oils Exporters in 2019
You can change the presentation order by clicking the triangle icon at the top of the columns. An entry of 0% in the right-most column means that 2018 data was unavailable.
| Rank | Exporter | Exported Cannabis Oils (US$) | 2018-9 |
|---|---|---|---|
| 1. | China | $963,951,000 | +5.7% |
| 2. | India | $320,841,000 | +12.8% |
| 3. | United States | $309,730,000 | +0.4% |
| 4. | Germany | $229,839,000 | -5.3% |
| 5. | Spain | $190,502,000 | +11.6% |
| 6. | Italy | $99,044,000 | +18.8% |
| 7. | Switzerland | $72,787,000 | -16.8% |
| 8. | South Korea | $59,697,000 | +1.5% |
| 9. | Netherlands | $59,582,000 | -40% |
| 10. | Vietnam | $54,284,000 | +47.4% |
| 11. | Canada | $37,967,000 | +22.7% |
| 12. | Belgium | $37,303,000 | +6.5% |
| 13. | Madagascar | $34,692,000 | -8.6% |
| 14. | Morocco | $30,417,000 | +5% |
| 15. | Brazil | $29,719,000 | +4.9% |
| 16. | United Kingdom | $25,490,000 | +14.3% |
| 17. | Ireland | $25,405,000 | -28.4% |
| 18. | Japan | $25,231,000 | -4.4% |
| 19. | France | $22,257,000 | -15.2% |
| 20. | Mexico | $19,933,000 | -61.1% |
| 21. | Singapore | $19,356,000 | +9.7% |
| 22. | Slovenia | $19,167,000 | +9.9% |
| 23. | Israel | $15,920,000 | +74.5% |
| 24. | Austria | $13,083,000 | +10% |
| 25. | Australia | $13,006,000 | +8.9% |
| 26. | Chile | $12,224,000 | +0.4% |
| 27. | Poland | $10,627,000 | +73.8% |
| 28. | Kenya | $9,887,000 | +5,582% |
| 29. | South Africa | $8,268,000 | -43.2% |
| 30. | Dominican Republic | $8,060,000 | +38.4% |
| 31. | Czech Republic | $7,265,000 | -1.6% |
| 32. | Laos | $6,933,000 | +547.9% |
| 33. | Tanzania | $6,367,000 | +9,403% |
| 34. | Taiwan | $5,827,000 | -23.5% |
| 35. | Rwanda | $5,095,000 | +127.9% |
| 36. | Saudi Arabia | $4,006,000 | +30.9% |
| 37. | Indonesia | $3,960,000 | +204.1% |
| 38. | Thailand | $3,798,000 | -14.7% |
| 39. | Jordan | $3,630,000 | 0% |
| 40. | Hong Kong | $3,584,000 | -50.8% |
| 41. | Denmark | $3,265,000 | +57.4% |
| 42. | New Zealand | $3,260,000 | +10.8% |
| 43. | Bulgaria | $3,161,000 | +78% |
| 44. | Hungary | $3,120,000 | +184.7% |
| 45. | Peru | $3,026,000 | +12% |
| 46. | Portugal | $3,014,000 | +230.5% |
| 47. | Argentina | $2,967,000 | +62.3% |
| 48. | Finland | $2,941,000 | -17.6% |
| 49. | Luxembourg | $2,319,000 | +46% |
| 50. | Democr. Rep. Congo | $2,229,000 | -59.7% |
| 51. | Guatemala | $2,219,000 | +35.2% |
| 52. | Russia | $2,073,000 | -22.4% |
| 53. | Serbia | $1,837,000 | +28.9% |
| 54. | Uruguay | $1,638,000 | -57.3% |
| 55. | Lithuania | $1,620,000 | -2.5% |
| 56. | Greece | $1,582,000 | +3.2% |
| 57. | Slovakia | $1,221,000 | +10.7% |
| 58. | Pakistan | $1,218,000 | -4.5% |
| 59. | United Arab Emirates | $1,199,000 | -94.4% |
| 60. | Turkey | $1,047,000 | +57% |
| 61. | Sweden | $1,026,000 | +27% |
| 62. | Belarus | $1,014,000 | +61.7% |
| 63. | Ukraine | $952,000 | +37.6% |
| 64. | Congo | $676,000 | -42.9% |
| 65. | Tunisia | $675,000 | +64.6% |
| 66. | Cyprus | $666,000 | +62.4% |
| 67. | Costa Rica | $651,000 | -50% |
| 68. | Nepal | $607,000 | +46.3% |
| 69. | Philippines | $582,000 | +100.7% |
| 70. | Romania | $540,000 | -12.3% |
| 71. | Egypt | $518,000 | -96.9% |
| 72. | Croatia | $506,000 | -57% |
| 73. | Malaysia | $486,000 | -84.3% |
| 74. | Latvia | $475,000 | -20% |
| 75. | Lebanon | $462,000 | +15,300% |
| 76. | Estonia | $454,000 | +324.3% |
| 77. | Uganda | $300,000 | -41.3% |
| 78. | Colombia | $260,000 | -69.6% |
| 79. | Georgia | $245,000 | +920.8% |
| 80. | Honduras | $241,000 | +10.6% |
| 81. | Ecuador | $209,000 | +167.9% |
| 82. | Jamaica | $200,000 | +640.7% |
| 83. | Sri Lanka | $191,000 | +5.5% |
| 84. | Fiji | $187,000 | +18,600% |
| 85. | Burkina Faso | $165,000 | 0% |
| 86. | Lesotho | $113,000 | +303.6% |
| 87. | Panama | $98,000 | -25.8% |
| 88. | Norway | $87,000 | +70.6% |
| 89. | Ghana | $86,000 | 0% |
| 90. | Guinea | $80,000 | +1,500% |
| 91. | Syria | $78,000 | +122.9% |
| 92. | Albania | $68,000 | 0% |
| 93. | Guinea-Bissau | $57,000 | +29.5% |
| 94. | Kuwait | $55,000 | -76.7% |
| 95. | El Salvador | $46,000 | +64.3% |
| 96. | Venezuela | $46,000 | -81.1% |
| 97. | Mongolia | $38,000 | 0% |
| 98. | Vanuatu | $33,000 | +371.4% |
| 99. | Ivory Coast | $33,000 | -17.5% |
| 100. | North Macedonia | $30,000 | -31.8% |
| 101. | Eswatini | $24,000 | +33.3% |
| 102. | Nicaragua | $17,000 | +466.7% |
| 103. | Iran | $17,000 | -99.9% |
| 104. | Cambodia | $15,000 | +400% |
| 105. | Afghanistan | $10,000 | -100% |
| 106. | St Vincent/Grenadines | $10,000 | 0% |
| 107. | Namibia | $8,000 | -11.1% |
| 108. | Bolivia | $8,000 | +700% |
| 109. | Haiti | $6,000 | +500% |
| 110. | Oman | $6,000 | -98.6% |
| 111. | Tonga | $6,000 | -60% |
| 112. | Zimbabwe | $6,000 | 0% |
| 113. | Bhutan | $4,000 | -99% |
| 114. | Andorra | $4,000 | 0% |
| 115. | Montenegro | $3,000 | -93.3% |
| 116. | Zambia | $3,000 | 0% |
| 117. | Uzbekistan | $2,000 | 0% |
| 118. | Cuba | $2,000 | 0% |
| 119. | Dominica | $2,000 | -33.3% |
| 120. | French Polynesia | $2,000 | -50% |
| 121. | Bosnia/Herzegovina | $1,000 | -95% |
| 122. | Moldova | $1,000 | -92.9% |
| 123. | Malta | $1,000 | -99.8% |
| 124. | Sudan | $1,000 | -97.4% |
| 125. | Senegal | $1,000 | -99.6% |
| 126. | Saint Lucia | $1,000 | -93.3% |
| 127. | Paraguay | $1,000 | -50% |
| 128. | Turkmenistan | $1,000 | 0% |
See also Drugs and Medicine Exports by Country, Heart Pacemaker Export Sales by Country and Cannabis Oils Imports by Country
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports – Commodities. Accessed on May 17, 2020
Cision, Companies That Stand to Benefit From Record Growth in CBD Market (press release). Accessed on May 17, 2020
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 17, 2020
International Trade Centre, Trade Map. Accessed on May 17, 2020
Investopedia, Net Exports Definition. Accessed on May 17, 2020
The Motley Fool, The 10 Largest Marijuana Stocks by Sean Williams. Accessed on May 17, 2020
The Street, 5 Cannabis Products on the Rise in 2019 by Steve Fiorillo. Accessed on October 14, 2019
Wikipedia, Hash oil. Accessed on May 17, 2020