OVERVIEW
In 2023, global trade of Cut Flowers reached $10B, reflecting a 1.48% increase from 2022, when it totaled $9.85B and an annualized rate growth of 2.47% over the past five years.
Among the other 1217 products traded in 2023, Cut Flowers ranked 366 in global trade value, accounting for 0.044% of world trade and, according to Product Complexity Index (PCI), it was the 997th most complex product out of 1044, with a PCI value of -1.8.
In the same year, it was reported that the most traded by-products worldwide within the Cut Flowers category, broken down to HS6 level, were Fresh cut flowers and flowers buds for bouquet, with a net trade of $9.42B, and Dried flowers, with a net trade of $579M.
IMPORT AND EXPORT
In 2023, the leading exporter of Cut Flowers were The Netherlands, with a net trade of $4.08B, Colombia, $2.07B, and Ecuador, $1.1B and, in the same year, the main importers were The United Stated, $2.58B, Germany, $1.28B, and The Netherlands, $975M.
TRADE SURPLUSES AND DEFICITS
In 2023, the countries with the largest trade surpluses in Cut Flowers were The Netherlands, approximately $3.11B, Colombia, around $2.05B and Ecuador, just over $1.1B.
On the other hand, the countries with the largest trade deficits in Cut Flowers were United States, with a total of -$2.57B, Germany, with an estimated-$1.22B, and United Kingdom, about -$726M.
The following map shows the trade balance in the Cut Flowers scene for 2023; the colors represent the difference between each country’s import and export values and, specifically, red represents a trade deficit and green indicates a trade surplus.
GROWTH POTENTIAL
In 2022, United States were classified as the largest export potential for Netherland’s Cut Flowers; exports from the second country to the first amounted to $115M, with a predicted potential of $39.9M. This could lead to total exports of $154M, representing an increase of 34.8%, compared to the current value.
SHARE
This map shows the percentage share of Cut Flowers in each country’s total export, specifically darker shades highlight countries that rely more heavily on this product category for their export revenues.
In 2023 the highest share of Cut Flowers was registered in Kenya, Ethiopia and Colombia export portfolios, with a respective percentage of 9.51%, 6.48% and 3.78%.
CONCLUSIONS
Cut Flowers is a brilliant field which has experienced significant net-worth-increase over the 2022-2023 season, specifically 1.48%; it’s contributed to by almost every country in the world, although some play a larger role in exports, like The Netherlands, and others are more oriented toward imports, like the United States.
