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2023
Exports $414MWorld Rnk 7 / 137
Flag Rnk 200 / 1215
2023
Destination $14.4M Morocco
2022 - 2023
FASTEST GROWING MARKET $14.4MEgypt
2023
PRODUCT COMPLEXITY IN Soybean Oil-0.85Rnk 795 / 1025
2023
Imports $276MWorld Rnk 11 / 212
Flag Rnk 300 / 1214
2023
Origin $46.5M Argentina
2022 - 2023
FASTEST GROWING ORIGIN $46.5MArgentina
2023
ECONOMIC COMPLEXITY of Spain0.86Rnk 31 / 132

About

Exports In 2023, Spain exported $414M in Soybean Oil, making it the 7th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 200th most exported product in Spain. The main destination of Soybean Oil exports from Spain are: Morocco ($284M), Italy ($30.9M), Egypt ($21M), Tunisia ($10.3M), and France ($8.98M).

The fastest growing export markets for Soybean Oil of Spain between 2022 and 2023 were Egypt ($14.4M), Mozambique ($7.55M), and Belgium ($6.44M).

Imports In 2023, Spain imported $276M in Soybean Oil, becoming the 11th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 300th most imported product in Spain. Spain imports Soybean Oil primarily from: Argentina ($144M), Netherlands ($32.5M), Portugal ($25.2M), United States ($21.3M), and France ($17.5M).

The fastest growing import markets in Soybean Oil for Spain between 2022 and 2023 were Argentina ($46.5M), Germany ($14M), and Netherlands ($9.31M).

Latest Trends

November 2024

About

Overview In November 2024 Spain's Soybean Oil exports accounted up to €14.6M and imports accounted up to €92.2M, resulting in a negative trade balance of €77.6M. Between November 2023 and November 2024 the exports of Spain's   Soybean Oil have decreased by €-2M (-12%) from €16.6M to €14.6M, while imports increased by €68.3M (286%) from €23.9M to €92.2M.

Destinations In November 2024, Soybean Oil were exported mostly to Morocco (€12.2M), France (€1.02M), Portugal (€429k), Greece (€213k), and United Kingdom (€152k), and were imported mostly from Argentina (€62.5M), United States (€22.1M), Netherlands (€3.91M), Portugal (€2.31M), and Italy (€674k).

Growth In November 2024, the decrease in Soybean Oil's year-by-year exports was explained primarily by a decrease in exports to Portugal (€-568k or -68%), United States (€-34k or -93.6%), and Ireland (€-27k or -11%). In November 2024, the increase in Soybean Oil's year-by-year imports was explained primarily by an increase in imports from Netherlands (€141k or 83.5%), France (€92.7k or 31.8%), and Belgium (€14.1k or 10.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)€-2M(-12%)
IMPORT GROWTH (November 2023 - November 2024)€68.3M(286%)
MAIN EXPORTER (November 2024)Vizcaya€20.2M
MAIN DESTINATION (November 2024)Morocco€12.2M

This section shows Soybean Oil's exports and imports data at subnational level for Spain. 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)$414M
IMPORTS (2023)$276M
NET TRADE (2023)$138M

In 2023, Spain exported $414M in Soybean Oil. The main destinations of Spain exports on Soybean Oil were Morocco ($284M), Italy ($30.9M), Egypt ($21M), Tunisia ($10.3M), and France ($8.98M).

In 2023, Spain imported $276M in Soybean Oil, mainly from Argentina ($144M), Netherlands ($32.5M), Portugal ($25.2M), United States ($21.3M), and France ($17.5M).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Spain WERE (2022 - 2023):
Egypt$14.4M (218%)
Mozambique$7.55M (1%)
Belgium$6.44M (980%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Spain WERE (2022 - 2023):
Algeria-$77.4M (-100%)
Morocco-$59M (-17.2%)
United Kingdom-$8.81M (-53.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Spain's main exporting competitors in Soybean Oil were:
Argentina $4.39B
Brazil $2.6B
Netherlands $608M
In 2023, Spain'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 POTENTIALFrance+ $6.49M
TOP IMPORT POTENTIALArgentina+ $9.31M

Soybean Oil’s highest export potential is France. With an export gap of $6.49M.   Soybean Oil’s highest import potential is Argentina with an import gap of $9.31M.

See methodology.

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