Lets talk about the top Ginger importing countries in the world.
Ginger is an excellent source of dietary fiber, vitamin E (alpha-tocopherol), vitamin B6, iron, magnesium, manganese, potassium and selenium. The spicy aroma of ginger is mainly due to the presence of ketones, especially gingerols.
As at 2020, the global ginger & ginger processing market was valued worth over 2.16 billion dollars. This figure is expected to reach 3.42 billion by 2023, proliferating at a CAGR of 6.6 percent.
Global trade almost remained static in terms of its growth rate in past five years. In value terms, ginger trade slightly fell from 967.2 million dollars in 2014 to 884.7 million dollars in 2018.
China is the largest exporter of ginger across world exporting over 50 percent followed by Netherlands, Thailand, Peru and India.
On the other hand, US is the world largest importer of ginger followed by Japan, Netherlands, Pakistan and Germany.
Export markets are much more concentrated than imports as ginger importers are well distributed among importing economies.
In 2020, the countries that had the largest trade value in exports than in imports of Ginger were China with 610 million dollars, Thailand with 59.8 million dollars, Peru with 44.6 million dollars, Nigeria with 39.2 million dollars, and Brazil with 28.8 million dollars.
In 2020, the countries that had a largest trade value in imports than in exports of Ginger were United States with 112 million dollars, Japan with 83.7 million dollars, Bangladesh with 77.4 million dollars, Pakistan with 76.9 million dollars, and Germany with 39 million dollars.
Also in 2020, the average tariff for importing Ginger was 10.1 percent. The countries with the highest tariffs for importing Ginger were Cyprus with 42 percent, Barbados with 37.8 percent, Trinidad and Tobago with 37.8 percent, Gabon with 29.4 percent, and Chad with 29.4 percent.
Let’s now take a critical look at the top Ginger importing countries.
In 2020, the amount of ginger imported worldwide amounted to 645 thousand tonnes, shrinking by -8.3 percent against the previous year. In value terms, ginger imports totaled 823 million dollars in 2020. The pace of growth appeared the most rapid in 2010, with 49 percent increase.
In 2020, the United States imported an average of 89,000 tonnes valued at 128,164,452.33 million dollars which makes United states the highest importer of ginger globally.
Japan is the second highest importer of the commodity importing anaverage of 68,000 tonnes annually valued at 100,758,986.17 million dollars.
Netherlands is the third highest importer with an average annual importation of 60,000 tonnes valued at 83,854,092.93 million dollars.
On the fourth position is the United Arab Emirates churning out an average of 47,000 tonnes annually.
Pakistan closely follows United Arab Emirates with an average of 46,000 tonnes annually. Malaysia is next with an average import ability of 45, 000 tonnes annually.
Bangladesh is the 8th highest importer of ginger with 42,000 tonnes importation rate annually.
Saudi Arabia is 9th importing an average of 28,000 tonnes annually.
United Kingdom is the 10th highest importer of the commodity with an average annual importation rate of 26,000 tonnes valued at 42,370,968.09 million dollars.