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2023
Exports $805MWorld Rnk 1 / 178
Flag Rnk 273 / 1217
2023
Destination $166M Mexico
2022 - 2023
FASTEST GROWING MARKET $166MMexico
2023
PRODUCT COMPLEXITY IN Soups and Broths-0.55Rnk 719 / 1025
2023
Imports $591MWorld Rnk 1 / 224
Flag Rnk 481 / 1215
2023
Origin $24.4M Canada
2022 - 2023
FASTEST GROWING ORIGIN $24.4MVietnam
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $805M in Soups and Broths, making it the 1st largest exporter of Soups and Broths in the world. At the same year, Soups and Broths was the 273rd most exported product in United States. The main destination of Soups and Broths exports from United States are: Mexico ($421M), Canada ($276M), Nicaragua ($16.5M), El Salvador ($10.6M), and Chile ($9.01M).

The fastest growing export markets for Soups and Broths of United States between 2022 and 2023 were Mexico ($166M), Nicaragua ($7.79M), and Canada ($7.76M).

Imports In 2023, United States imported $591M in Soups and Broths, becoming the 1st largest importer of Soups and Broths in the world. At the same year, Soups and Broths was the 481st most imported product in United States. United States imports Soups and Broths primarily from: Canada ($203M), Mexico ($86M), South Korea ($57.7M), Vietnam ($48.4M), and China ($42.9M).

The fastest growing import markets in Soups and Broths for United States between 2022 and 2023 were Vietnam ($24.4M), Canada ($19M), and Chile ($12.9M).

COMPANIES In 2023, leading companies such as Continental Materials (49), Walmart (38), and Fred Meyer (22) were at the forefront of shipping Soups and Broths to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Soups and Broths exports accounted up to $77.3M and imports accounted up to $65M, resulting in a positive trade balance of $12.3M. Between November 2023 and November 2024 the exports of United States'   Soups and Broths have increased by $12.9M (20%) from $64.4M to $77.3M, while imports increased by $10.6M (19.4%) from $54.4M to $65M.

Destinations In November 2024, Soups and Broths were exported mostly to Mexico ($45.7M), Canada ($24.8M), Costa Rica ($1.15M), Nicaragua ($990k), and Jamaica ($983k), and were imported mostly from Canada ($28.8M), Mexico ($7.07M), China ($5.28M), South Korea ($4.83M), and Vietnam ($3.44M).

Growth In November 2024, the increase in Soups and Broths's year-by-year exports was explained primarily by an increase in exports to Mexico ($12.2M or 51.7%), Canada ($6.82M or 31.4%), and Argentina ($632k or 857%). In November 2024, the increase in Soups and Broths's year-by-year imports was explained primarily by an increase in imports from Mexico ($3.29M or 52.7%), Vietnam ($2.77M or 631%), and China ($1.28M or 51.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$12.9M(20%)
IMPORT GROWTH (November 2023 - November 2024)$10.6M(19.4%)
MAIN EXPORTER (November 2024)California$48.4M
MAIN DESTINATION (November 2024)Mexico$45.7M

This section shows Soups and Broths's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Soups and Broths over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$805M
IMPORTS (2023)$591M
NET TRADE (2023)$214M

In 2023, United States exported $805M in Soups and Broths. The main destinations of United States exports on Soups and Broths were Mexico ($421M), Canada ($276M), Nicaragua ($16.5M), El Salvador ($10.6M), and Chile ($9.01M).

In 2023, United States imported $591M in Soups and Broths, mainly from Canada ($203M), Mexico ($86M), South Korea ($57.7M), Vietnam ($48.4M), and China ($42.9M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soups and Broths EXPORT MARKETS FOR United States WERE (2022 - 2023):
Mexico$166M (65.1%)
Nicaragua$7.79M (89%)
Canada$7.76M (2.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soups and Broths BY United States WERE (2022 - 2023):
Venezuela-$3.86M (-92.8%)
Hong Kong-$2.1M (-75.5%)
Chinese Taipei-$1.88M (-82.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Soups and Broths were:
Germany $264M
Spain $256M
In 2023, United States's main importing competitors in Soups and Broths were:
Mexico $446M
Canada $327M

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Trade Value of Soups and Broths by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $2.74M
TOP IMPORT POTENTIALChina+ $7.36M

Soups and Broths’s highest export potential is Japan. With an export gap of $2.74M.   Soups and Broths’s highest import potential is China with an import gap of $7.36M.

See methodology.

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