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2023
Exports $9.74MWorld Rnk 52 / 137
Flag Rnk 85 / 1002
2023
Destination $9.6M Cuba
2022 - 2023
FASTEST GROWING MARKET $9.6MCuba
2023
PRODUCT COMPLEXITY IN Soybean Oil-0.85Rnk 795 / 1025
2023
Imports $134MWorld Rnk 26 / 212
Flag Rnk 37 / 1173
2023
Origin $2.86M Bolivia
2022 - 2023
FASTEST GROWING ORIGIN $2.86MBrazil
2023
ECONOMIC COMPLEXITY of Ecuador-0.85Rnk 104 / 132

About

Exports In 2023, Ecuador exported $9.74M in Soybean Oil, making it the 52nd largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 85th most exported product in Ecuador. The main destination of Soybean Oil exports from Ecuador are: Cuba ($9.6M), Colombia ($134k), Angola ($1k), Netherlands ($963), and Portugal ($240).

The fastest growing export markets for Soybean Oil of Ecuador between 2022 and 2023 were Cuba ($9.6M), Angola ($1k), and Netherlands ($963).

Imports In 2023, Ecuador imported $134M in Soybean Oil, becoming the 26th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 37th most imported product in Ecuador. Ecuador imports Soybean Oil primarily from: Bolivia ($112M), Argentina ($12.1M), Colombia ($5.76M), Brazil ($3.84M), and United States ($50.2k).

The fastest growing import markets in Soybean Oil for Ecuador between 2022 and 2023 were Brazil ($2.86M) and Argentina ($523k).

Latest Trends

November 2021

About

Overview In November 2021 Ecuador's Soybean Oil exports accounted up to $326k and imports accounted up to $13.2M, resulting in a negative trade balance of $12.9M. Between November 2016 and November 2021 the exports of Ecuador's   Soybean Oil have increased by $323k (15.6k%) from $2.08k to $326k, while imports increased by $7.62M (137%) from $5.57M to $13.2M.

Destinations In November 2021, Soybean Oil were exported mostly to , and were imported mostly from Bolivia ($13.2M), United States ($4.43k), and Ecuador ($262).

Growth In November 2021, the increase in Soybean Oil's year-by-year exports was explained primarily by an increase in exports to . In December 2021, the increase in Soybean Oil's year-by-year imports was explained primarily by an increase in imports from Bolivia ($11.1M or 309%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2016 - November 2021)$323k(15.6k%)
IMPORT GROWTH (December 2020 - December 2021)$7.62M(137%)
MAIN DESTINATION (November 2021)

This section shows Soybean Oil's exports and imports data at subnational level for Ecuador. 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 (2023)$9.74M
IMPORTS (2023)$134M
NET TRADE (2023)-$124M

In 2023, Ecuador exported $9.74M in Soybean Oil. The main destinations of Ecuador exports on Soybean Oil were Cuba ($9.6M), Colombia ($134k), Angola ($1k), Netherlands ($963), and Portugal ($240).

In 2023, Ecuador imported $134M in Soybean Oil, mainly from Bolivia ($112M), Argentina ($12.1M), Colombia ($5.76M), Brazil ($3.84M), and United States ($50.2k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Ecuador WERE (2022 - 2023):
Cuba$9.6M (1%)
Angola$1k (1%)
Netherlands$963 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Ecuador WERE (2022 - 2023):
Colombia-$152k (-53.1%)
Trinidad and Tobago-$12.9k (-100%)
Germany-$13 (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Ecuador's main exporting competitors in Soybean Oil were:
Argentina $4.39B
Brazil $2.6B
Netherlands $608M
In 2023, Ecuador's main importing competitors in Soybean Oil were:
India $3.59B
China $772M
Bangladesh $694M

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALColombia+ $201k
TOP IMPORT POTENTIALBrazil+ $2.23M

Soybean Oil’s highest export potential is Colombia. With an export gap of $201k.   Soybean Oil’s highest import potential is Brazil with an import gap of $2.23M.

See methodology.

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