Top Cannabis Oil Suppliers and Importers in 2019
In 2019, the total revenue coming from cannabis oil exports hit $2.9 billion — a 23.3% increase for all cannabis oil suppliers in the last five years. Over the same period, international purchases totaled $3.1 billion, with an average value increase of 38.6% for all buyers since 2015.
Now, when we take a look at the very top of the list, countries from Asia managed to generate a revenue of $1.5 billion in shipments, which is 51.9% of the total global amount. European countries were not far behind with 29.1%, whereas North American countries ranked third on the list with a respectable share of 12.7%. Smaller export shipments were made from Africa (3.5%), Latin America (2.1%), and Oceania (0.6%) with most of the contributions coming from Australia.
As for purchases, European countries had the largest demand for imported cannabis oil in 2019 — 35.9% (or $1.1 billion). Next on the list was North America (31.8%), Asia with 25.5%, Oceania (2.6%), Latin America (2.5%), and Africa (1.6%).
Here are the top 10 cannabis oil importers from 2019:
- China with a staggering $964 million (33.4% of all oil exports).
- India — $320.8 million (11.1%).
- The US — a respectable $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%).
- The Netherlands — $59.6 million (2.1%).
- Vietnam — $54.3 million (1.9%).
The Netherlands and Vietnam were the two fastest-growing contenders on the list. What’s more, Italy was the only exporter with a decrease in shipments in the 2015–2019 time period, with a −16.5% drop.
Lastly, when looking at purchases, we have the following top 10:
- The US with $893.2 million (28.7%).
- Germany — $240.9 million (7.8%).
- South Korea — $207.7 million (6.7%).
- Japan — a respectable $155.8 million (5%).
- France — $152.7 million (4.9%).
- Italy — $102.1 million (3.3%).
- Spain — $86.7 million (2.8%).
- China — $80.8 million (2.6%).
- Canada — $80.4 million (2.6%).
- The Netherlands — $76.5 million (2.5%).
When it comes to cannabis flowers, Israel has just surpassed Germany, but we’ll just have to wait and see what happens this year both with flowers and oils.