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2022
Exports $189MWorld Rnk 15 / 135
Flag Rnk 293 / 1210
2022
Destination $924k United States
2021 - 2022
FASTEST GROWING MARKET $924kTrinidad and Tobago
2022
PRODUCT COMPLEXITY IN Soybean Oil-0.93Rnk 821 / 1025
2022
Imports $198MWorld Rnk 24 / 215
Flag Rnk 409 / 1213
2022
Origin $98.8M United States
2021 - 2022
FASTEST GROWING ORIGIN $98.8MUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $189M in Soybean Oil, making it the 15th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 293rd most exported product in Canada. The main destination of Soybean Oil exports from Canada are: United States ($181M), United Arab Emirates ($2.93M), Trinidad and Tobago ($1.25M), Saudi Arabia ($935k), and Jordan ($637k).

The fastest growing export markets for Soybean Oil of Canada between 2021 and 2022 were Trinidad and Tobago ($924k), Lebanon ($422k), and Saint Kitts and Nevis ($59.7k).

Imports In 2022, Canada imported $198M in Soybean Oil, becoming the 24th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 409th most imported product in Canada. Canada imports Soybean Oil primarily from: United States ($157M), Argentina ($39M), Malaysia ($740k), China ($454k), and Russia ($416k).

The fastest growing import markets in Soybean Oil for Canada between 2021 and 2022 were United States ($98.8M), Argentina ($39M), and Malaysia ($740k).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Soybean Oil exports accounted up to C$5.6M and imports accounted up to C$168M, resulting in a negative trade balance of C$162M. Between August 2023 and August 2024 the exports of Canada's   Soybean Oil have decreased by C$-12.1M (-68.4%) from C$17.7M to C$5.6M, while imports increased by C$124M (284%) from C$43.7M to C$168M.

Destinations In August 2024, Soybean Oil were exported mostly to United States (C$4.18M), United Arab Emirates (C$640k), Qatar (C$284k), Lebanon (C$158k), and Kuwait (C$111k), and were imported mostly from Argentina (C$154M), United States (C$13.8M), Tonga (C$39.1k), Netherlands (C$21.8k), and China (C$18k).

Growth In August 2024, the decrease in Soybean Oil's year-by-year exports was explained primarily by a decrease in exports to El Salvador (C$-180 or -69.2%). In August 2024, the increase in Soybean Oil's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$-12.1M(-68.4%)
IMPORT GROWTH (August 2023 - August 2024)C$124M(284%)
MAIN EXPORTER (August 2024)OntarioC$12.5M
MAIN DESTINATION (August 2024)United StatesC$4.18M

This section shows Soybean Oil's exports and imports data at subnational level for Canada. 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 Soybean Oil over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$189M
IMPORTS (2022)$198M
NET TRADE (2022)-$9.08M

In 2022, Canada exported $189M in Soybean Oil. The main destinations of Canada exports on Soybean Oil were United States ($181M), United Arab Emirates ($2.93M), Trinidad and Tobago ($1.25M), Saudi Arabia ($935k), and Jordan ($637k).

In 2022, Canada imported $198M in Soybean Oil, mainly from United States ($157M), Argentina ($39M), Malaysia ($740k), China ($454k), and Russia ($416k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Canada WERE (2021 - 2022):
Trinidad and Tobago$924k (286%)
Lebanon$422k (305%)
Saint Kitts and Nevis$59.7k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Canada WERE (2021 - 2022):
United States-$18.3M (-9.15%)
Saudi Arabia-$2.39M (-71.9%)
United Arab Emirates-$2.01M (-40.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Soybean Oil were:
Argentina $6.79B
Brazil $3.99B
United States $1.06B
In 2022, Canada's main importing competitors in Soybean Oil were:
India $6.49B
Bangladesh $948M
Morocco $775M

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSaudi Arabia+ $389k
TOP IMPORT POTENTIALArgentina+ $7.61M

Soybean Oil’s highest export potential is Saudi Arabia. With an export gap of $389k.   Soybean Oil’s highest import potential is Argentina with an import gap of $7.61M.

See methodology.

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