Overall, the value of imported cannabis oils increased by an average 14.2% for all buyer countries starting from $3.17 billion 5 years earlier in 2019.
Year over year, global spending on imported cannabis oils fell via a -4.4% drop compared to $3.78 billion for 2022.
The 5 largest buyers of imported cannabis oils are buyers in the United States of America, Germany, South Korea, Italy and Hong Kong. Combined, that quintet of major importers spent almost half (48.5%) of overall purchases for imported cannabis oils during 2023.
From a continental perspective, buyers in European countries spent the most on imported cannabis oils during 2023 with purchases costing $1.28 billion or 35.4% of the global total. In second place were importers located in North America at 29.1% while another 28.2% of cannabis oils imported worldwide arrived in Asia.
Smaller percentages went to buyers in Oceania (3.5%) led by Australia and New Zealand, Latin America (2.8%) excluding Mexico but including the Caribbean, then Africa (0.9%).
For research purposes, the 6-digit Harmonized Tariff System code prefix for cannabis oils is 130219 for cannabis oils, extracts and tinctures.
Cannabis Oils Imports by Country
Below are the 25 countries that paid the most for imported cannabis oils during 2023.
- United States: US$928.2 million (25.7% of total cannabis oil imports)
- Germany: $270.9 million (7.5%)
- South Korea: $245.4 million (6.8%)
- Italy: $154.2 million (4.3%)
- Hong Kong: $154.1 million (4.3%)
- France: $136.9 million (3.8%)
- Spain: $131.2 million (3.6%)
- Japan: $116.6 million (3.2%)
- Netherlands: $115.1 million (3.2%)
- mainland China: $110.6 million (3.1%)
- Canada: $99.6 million (2.8%)
- Australia: $93.9 million (2.6%)
- Vietnam: $60.4 million (1.7%)
- United Kingdom: $58.8 million (1.6%)
- India: $57.2 million (1.6%)
- Belgium: $56.4 million (1.6%)
- Brazil: $55.3 million (1.5%)
- Poland: $54 million (1.5%)
- Taiwan: $48.8 million (1.4%)
- Switzerland: $39.4 million (1.1%)
- Ireland: $36.2 million (1%)
- Thailand: $34.3 million (0.9%)
- Malaysia: $32 million (0.9%)
- New Zealand: $31.4 million (0.9%)
- Austria: $29.8 million (0.8%)
By value, the listed 25 countries purchased 87.2% of all cannabis oils imported in 2023.
Among the above countries, the fastest-growing markets for cannabis oils since 2022 were: Vietnam (up 131.2%), Hong Kong (up 104.1%), Netherlands (up 27.1%) and New Zealand (up 19.7%).
Those countries that posted declines in their imported cannabis oils purchases were led by: Australia (down -4% from 2022), Germany (down -3.5%), Belgium (down -2.8%) and Thailand (down -2%).
Cannabis Oils Imported into the United States
America’s global purchases of imported cannabis oils totaled US$928.2 million in 2023. Below are the top 15 suppliers from which America imported the highest dollar value worth of cannabis oils during 2023. Within parenthesis is the percentage change in value for each supplying country since 2022.
- India: US$295.3 million (down -9.4% from 2022)
- mainland China: $245.3 million (down -19.4%)
- France: $86.2 million (up 0.2%)
- Spain: $65.1 million (up 0.9%)
- Italy: $55.9 million (down -0.2%)
- Mexico: $36.7 million (up 4.9%)
- Germany: $18.8 million (up 1%)
- Japan: $12.2 million (down -13.7%)
- Australia: $11.9 million (down -52.9%)
- Brazil: $10.4 million (up 2.7%)
- Canada: $9.6 million (up 26.3%)
- South Korea: $8.5 million (down -5.5%)
- Tanzania: $8.2 million (up 12.9%)
- Chile: $7.6 million (up 42.9%)
- Switzerland: $7.2 million (down -54.3%)
By value, the listed 15 countries shipped 95% of cannabis oils imported by the United States of America in 2023.
Among the above countries, the fastest-growing suppliers of cannabis oils to the United States since 2022 were: Chile (up 42.9%), Canada (up 26.3%), Tanzania (up 12.9%) and Mexico (up 4.9%).
Countries that experienced declines in the value of their cannabis oils supplied to American importers included: Switzerland (down -54.3% from 2022), Australia (down -52.9%), mainland China (down -19.4%) and Japan (down -13.7%).
Overall, the value of America’s imported cannabis oils fell by an average -10.6% from all supplying countries since 2022 when cannabis oils purchased cost $1.0 billion.
Cannabis Oils Imported into Germany
Germany’s global purchases of imported cannabis oils totaled US$270.9 million in 2023. Below are the top 15 suppliers from which Germany imported the highest dollar value worth of cannabis oils during 2023. Within parenthesis is the percentage change in value for each supplying country since 2022.
- Ireland: US$45.7 million (down -2.1% from 2022)
- mainland China: $41.5 million (down -5.6%)
- Spain: $41 million (up 26.9%)
- France: $31.5 million (down -6.7%)
- Switzerland: $19 million (up 3.1%)
- India: $16.6 million (down -8.3%)
- Kenya: $11.4 million (up 5%)
- Madagascar: $10.7 million (down -18.7%)
- Italy: $9.1 million (down -48.3%)
- Netherlands: $7.9 million (up 10.6%)
- Mexico: $6.3 million (up 16.9%)
- United States of America: $5.5 million (down -40.6%)
- Poland: $3.8 million (up 100.8%)
- Slovenia: $2.8 million (up 8.4%)
- South Africa: $2 million (down -44%)
By value, the listed 15 countries shipped 94.1% of cannabis oils imported by Germany in 2023.
Among the above countries, the fastest-growing suppliers of cannabis oils to Germany since 2022 were: Poland (up 100.8%), Spain (up 26.9%), Mexico (up 16.9%) and the Netherlands (up 10.6%).
Countries that experienced declines in the value of their cannabis oils supplied to German importers included: Italy (down -48.3% from 2022), South Africa (down -44%), United States of America (down -40.6%) and Madagascar (down -18.7%).
Overall, the value of Germany’s imported cannabis oils slipped by an average -3.5% from all supplying countries since 2022 when cannabis oils purchased cost $280.7 million.
Cannabis Oils Imported into South Korea
South Korea’s global purchases of imported cannabis oils totaled US$245.4 million in 2023. Below are the top 15 suppliers from which South Korea imported the highest dollar value worth of cannabis oils during 2023. Within parenthesis is the percentage change in value for each supplying country since 2022.
- Vietnam: US$66.6 million (down -6.7% from 2022)
- mainland China: $49.7 million (down -10.6%)
- India: $30.7 million (down -19.7%)
- Spain: $20.3 million (up 27.3%)
- Germany: $20.3 million (up 27.2%)
- United States of America: $16.20 million (down -21.4%)
- France: $12.97 million (down -27.8%)
- Mexico: $6.2 million (up 21%)
- Switzerland: $4.3 million (up 38.4%)
- Italy: $2.4 million (down -54.3%)
- Japan: $2.2 million (down -0.9%)
- Singapore: $1.9 million (up 0.7%)
- Canada: $1.6 million (down -22.2%)
- Costa Rica: $1.5 million (down -16.8%)
- Poland: $1.3 million (up 37.5%)
By value, the listed 15 countries shipped 97.1% of cannabis oils imported by South Korea in 2023.
Among the above countries, the fastest-growing suppliers of cannabis oils to South Korea since 2022 were: Switzerland (up 38.4%), Poland (up 37.5%), Spain (up 27.3%) and Germany (up 27.2%).
Countries that experienced declines in the value of their cannabis oils supplied to Korean importers included: Italy (down -54.3% from 2022), France (down -27.8%), Canada (down -22.2%) and United States of America (down -21.4%).
Overall, the value of South Korea’s imported cannabis oils retreated by an average -7.5% from all supplying countries since 2022 when cannabis oils purchased cost $265.4 million.
Cannabis Oils Imported into Italy
Italy’s global purchases of imported cannabis oils totaled US$154.2 million in 2023. Below are the top 15 suppliers from which Italy imported the highest dollar value worth of cannabis oils during 2023. Within parenthesis is the percentage change in value for each supplying country since 2022.
- mainland China: US$34.5 million (down -18.8% from 2022)
- Vietnam: $20.5 million (down -75.1%)
- France: $19.1 million (down -9.7%)
- Germany: $13.2 million (up 12.1%)
- India: $10.8 million (up 53.8%)
- Spain: $9.9 million (up 21.7%)
- Belgium: $6.3 million (up 48.9%)
- Netherlands: $5.2 million (up 65.8%)
- Mexico: $5 million (down -4.5%)
- United States of America: $4.7 million (down -4.2%)
- Australia: $3.8 million (down -24.9%)
- Rwanda: $3.6 million (up 111.1%)
- Argentina: $3.4 million (up 29.9%)
- Slovenia: $2.5 million (down -32.4%)
- Ireland: $2 million (up 2.2%)
By value, the listed 15 countries shipped 93.7% of cannabis oils imported by Italy in 2023.
Among the above countries, the fastest-growing suppliers of cannabis oils to Italy since 2022 were: Rwanda (up 111.1%), Netherlands (up 65.8%), India (up 53.8%) and Belgium (up 48.9%).
Countries that experienced declines in the value of their cannabis oils supplied to Italian importers included: Vietnam (down -75.1% from 2022), Slovenia (down -32.4%), Australia (down -24.9%) and mainland China (down -18.8%).
Overall, the value of Italy’s imported cannabis oils shriveled by an average -28.2% from all supplying countries since 2022 when cannabis oils purchased cost $214.7 million.
See also Imports of Drugs and Medicines by Country, Sugar Imports by Country and Top Cannabis Oils Exports by Country
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Imports – Commodities. Accessed on October 1, 2024
Cision, Companies That Stand to Benefit From Record Growth in CBD Market (press release). Accessed on October 1, 2024
International Trade Centre, Trade Map. Accessed on October 1, 2024
Investopedia, Net Exports Definition. Accessed on October 1, 2024
The Motley Fool, The 10 Largest Marijuana Stocks… by Sean Williams. Accessed on October 1, 2024
The Street, 5 Cannabis Products on the Rise… by Steve Fiorillo. Accessed on October 1, 2024
Wikipedia, Hash oil. Accessed on October 1, 2024