2023
Exports
$89.2MWorld Rnk 16 / 178
Flag Rnk 172 / 1208
2023
PRODUCT COMPLEXITY IN Soups and Broths
-0.55Rnk 719 / 1025
2023
Imports
$70.4MWorld Rnk 14 / 224
Flag Rnk 395 / 1207
2023
ECONOMIC COMPLEXITY of Australia
-0.28Rnk 75 / 132

About

Exports In 2023, Australia exported $89.2M in Soups and Broths, making it the 16th largest exporter of Soups and Broths in the world. At the same year, Soups and Broths was the 172nd most exported product in Australia. The main destination of Soups and Broths exports from Australia are: Hong Kong ($32.3M), South Korea ($14.8M), New Zealand ($14.1M), Japan ($12.9M), and Chinese Taipei ($5.15M).

The fastest growing export markets for Soups and Broths of Australia between 2022 and 2023 were South Korea ($14.1M), Hong Kong ($7.27M), and Chinese Taipei ($1.51M).

Imports In 2023, Australia imported $70.4M in Soups and Broths, becoming the 14th largest importer of Soups and Broths in the world. At the same year, Soups and Broths was the 395th most imported product in Australia. Australia imports Soups and Broths primarily from: New Zealand ($38.6M), Thailand ($8.38M), Japan ($3.95M), South Korea ($3.54M), and China ($3.25M).

The fastest growing import markets in Soups and Broths for Australia between 2022 and 2023 were New Zealand ($2.18M), United Arab Emirates ($182k), and Jordan ($86.2k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Soups and Broths. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$89.2M
IMPORTS (2023)$70.4M
NET TRADE (2023)$18.9M

In 2023, Australia exported $89.2M in Soups and Broths. The main destinations of Australia exports on Soups and Broths were Hong Kong ($32.3M), South Korea ($14.8M), New Zealand ($14.1M), Japan ($12.9M), and Chinese Taipei ($5.15M).

In 2023, Australia imported $70.4M in Soups and Broths, mainly from New Zealand ($38.6M), Thailand ($8.38M), Japan ($3.95M), South Korea ($3.54M), and China ($3.25M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soups and Broths EXPORT MARKETS FOR Australia WERE (2022 - 2023):
South Korea$14.1M (2.19k%)
Hong Kong$7.27M (29%)
Chinese Taipei$1.51M (41.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soups and Broths BY Australia WERE (2022 - 2023):
Philippines-$916k (-41.6%)
China-$684k (-65.7%)
United States-$392k (-35.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Australia's main exporting competitors in Soups and Broths were:
In 2023, Australia's main importing competitors in Soups and Broths were:

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Trade Value of Soups and Broths by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALUnited States+ $1.58M
TOP IMPORT POTENTIALUnited States+ $2.01M

Soups and Broths’s highest export potential is United States. With an export gap of $1.58M.   Soups and Broths’s highest import potential is United States with an import gap of $2.01M.

See methodology.

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