Export target markets of medicinal and aromatic plants

Medicinal and aromatic plants play a significant role in meeting the needs of the traditional medicine which, are found both in domestic and overseas markets. The aim of this research is prioritization of medicinal and aromatic plants importing countries using relative import advantage index and five other indices during the period of 2000-2014. The structure of the global import market for medicinal and aromatic plants was also examined using the Herfindahl-Hirschman index. Main findings revealed that Singapore, Japan, Germany, Malaysia, and the U.S. have the highest importing advantage. The structure of global market of medicinal and aromatic plants is mostly competitive. Designing export promotion strategies to markets with higher relative import advantage is recommended.