Based on volume alone, the United States is the biggest importer of Spanish olive oil when compared to other non-EU countries, according to Eurostat data.
Over the past ten months, the U.S. imported nearly three times more Spanish olive oil than Japan, the second biggest importer of Spanish olive oil. Spain is the biggest exporter of olive oil in the EU. Between October 2018 and July of this year, the U.S. brought in nearly 105,000 tons of the product, which amounts to the weight of about four Statues of Liberty. Olive oil trade has stayed fairly constant over the past two years for the United States after experiencing a surge over the past two decades.
That may change as the U.S. implements tariffs against the EU, impacting goods like olive oil. Many small businesses and restaurants are bracing for the uptick in prices for certain European goods. The World Trade Organization permitted tariffs against EU exports totaling $7.5 billion to be implemented by the United States. The ruling comes from long-time complaints from Boeing and the United States about European subsidies for aircraft maker Airbus. The tariffs will be in effect until the two parties can reach a negotiated agreement.
The Biggest (Non-EU) Guzzlers of Spanish Olive Oil
International Trade
Description
The exports of olive oil from Spain to countries outside the EU (thousands of tons).
