2022
Exports
$99.5MWorld Rnk 29 / 135
Flag Rnk 45 / 1142
2022
PRODUCT COMPLEXITY IN Soybean Oil
-0.93Rnk 821 / 1025
2022
Imports
$450MWorld Rnk 8 / 215
Flag Rnk 26 / 1183
2022
ECONOMIC COMPLEXITY of Colombia
0.11Rnk 58 / 133

About

Exports In 2022, Colombia exported $99.5M in Soybean Oil, making it the 29th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 45th most exported product in Colombia. The main destination of Soybean Oil exports from Colombia are: China ($47M), Ecuador ($37.6M), Venezuela ($13.2M), Dominican Republic ($1.61M), and Cuba ($13.7k).

The fastest growing export markets for Soybean Oil of Colombia between 2021 and 2022 were China ($39.8M), Venezuela ($4.02M), and Dominican Republic ($755k).

Imports In 2022, Colombia imported $450M in Soybean Oil, becoming the 8th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 26th most imported product in Colombia. Colombia imports Soybean Oil primarily from: Bolivia ($354M), Argentina ($49.3M), United States ($45.4M), Brazil ($695k), and Ecuador ($238k).

The fastest growing import markets in Soybean Oil for Colombia between 2021 and 2022 were Bolivia ($86.5M), Argentina ($19.9M), and United States ($7.27M).

Latest Trends

Aug 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 Soybean Oil. 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 (2022)$99.5M
IMPORTS (2022)$450M
NET TRADE (2022)-$350M

In 2022, Colombia exported $99.5M in Soybean Oil. The main destinations of Colombia exports on Soybean Oil were China ($47M), Ecuador ($37.6M), Venezuela ($13.2M), Dominican Republic ($1.61M), and Cuba ($13.7k).

In 2022, Colombia imported $450M in Soybean Oil, mainly from Bolivia ($354M), Argentina ($49.3M), United States ($45.4M), Brazil ($695k), and Ecuador ($238k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Colombia WERE (2021 - 2022):
China$39.8M (555%)
Venezuela$4.02M (43.7%)
Dominican Republic$755k (88.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Colombia WERE (2021 - 2022):
Ecuador-$27.7M (-42.4%)
Mexico-$1.37M (-100%)
Costa Rica-$436k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Colombia's main exporting competitors in Soybean Oil were:
In 2022, Colombia's main importing competitors in Soybean Oil were:

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALDominican Republic+ $592k
TOP IMPORT POTENTIALArgentina+ $15.8M

Soybean Oil’s highest export potential is Dominican Republic. With an export gap of $592k.   Soybean Oil’s highest import potential is Argentina with an import gap of $15.8M.

See methodology.

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