2023
Exports
$26.5MWorld Rnk 38 / 137
Flag Rnk 80 / 1040
2023
PRODUCT COMPLEXITY IN Soybean Oil
-0.85Rnk 795 / 1025
2023
Imports
$5.29MWorld Rnk 94 / 212
Flag Rnk 451 / 1163
2023
ECONOMIC COMPLEXITY of Costa Rica
0.34Rnk 48 / 132

About

Exports In 2023, Costa Rica exported $26.5M in Soybean Oil, making it the 38th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 80th most exported product in Costa Rica. The main destination of Soybean Oil exports from Costa Rica are: Panama ($15.2M), El Salvador ($9.4M), Nicaragua ($1.28M), Honduras ($621k), and United States ($30.2k).

The fastest growing export markets for Soybean Oil of Costa Rica between 2022 and 2023 were United States ($30.2k), Slovakia ($1.25k), and Guatemala ($153).

Imports In 2023, Costa Rica imported $5.29M in Soybean Oil, becoming the 94th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 451st most imported product in Costa Rica. Costa Rica imports Soybean Oil primarily from: Argentina ($1.18M), Guatemala ($1.16M), Belize ($1.01M), United States ($598k), and Mexico ($575k).

The fastest growing import markets in Soybean Oil for Costa Rica between 2022 and 2023 were Belize ($859k), Bolivia ($419k), and Mexico ($104k).

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 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 (2023)$26.5M
IMPORTS (2023)$5.29M
NET TRADE (2023)$21.2M

In 2023, Costa Rica exported $26.5M in Soybean Oil. The main destinations of Costa Rica exports on Soybean Oil were Panama ($15.2M), El Salvador ($9.4M), Nicaragua ($1.28M), Honduras ($621k), and United States ($30.2k).

In 2023, Costa Rica imported $5.29M in Soybean Oil, mainly from Argentina ($1.18M), Guatemala ($1.16M), Belize ($1.01M), United States ($598k), and Mexico ($575k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Costa Rica WERE (2022 - 2023):
United States$30.2k (1%)
Slovakia$1.25k (1%)
Guatemala$153 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Costa Rica WERE (2022 - 2023):
Panama-$9.6M (-38.8%)
Nicaragua-$3.2M (-71.4%)
Honduras-$473k (-43.2%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Costa Rica's main exporting competitors in Soybean Oil were:
In 2023, Costa Rica'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+ $78.1k
TOP IMPORT POTENTIALArgentina+ $900k

Soybean Oil’s highest export potential is Dominican Republic. With an export gap of $78.1k.   Soybean Oil’s highest import potential is Argentina with an import gap of $900k.

See methodology.

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