2022
Exports
$34.5MWorld Rnk 41 / 135
Flag Rnk 84 / 1099
2022
PRODUCT COMPLEXITY IN Soybean Oil
-0.93Rnk 821 / 1025
2022
Imports
$186MWorld Rnk 26 / 215
Flag Rnk 28 / 1184
2022
ECONOMIC COMPLEXITY of Guatemala
-0.2Rnk 76 / 133

About

Exports In 2022, Guatemala exported $34.5M in Soybean Oil, making it the 41st largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 84th most exported product in Guatemala. The main destination of Soybean Oil exports from Guatemala are: Mexico ($16.1M), Nicaragua ($8.14M), Panama ($4.44M), Dominican Republic ($2.15M), and Costa Rica ($1.68M).

The fastest growing export markets for Soybean Oil of Guatemala between 2021 and 2022 were Nicaragua ($3.95M), Panama ($1.42M), and Honduras ($597k).

Imports In 2022, Guatemala imported $186M in Soybean Oil, becoming the 26th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 28th most imported product in Guatemala. Guatemala imports Soybean Oil primarily from: United States ($97.4M), Argentina ($73.2M), Mexico ($6.06M), Paraguay ($4.45M), and Bolivia ($2.4M).

The fastest growing import markets in Soybean Oil for Guatemala between 2021 and 2022 were Argentina ($54.9M), Paraguay ($2.98M), and Bolivia ($2.18M).

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)$34.5M
IMPORTS (2022)$186M
NET TRADE (2022)-$151M

In 2022, Guatemala exported $34.5M in Soybean Oil. The main destinations of Guatemala exports on Soybean Oil were Mexico ($16.1M), Nicaragua ($8.14M), Panama ($4.44M), Dominican Republic ($2.15M), and Costa Rica ($1.68M).

In 2022, Guatemala imported $186M in Soybean Oil, mainly from United States ($97.4M), Argentina ($73.2M), Mexico ($6.06M), Paraguay ($4.45M), and Bolivia ($2.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Guatemala WERE (2021 - 2022):
Nicaragua$3.95M (94.4%)
Panama$1.42M (46.8%)
Honduras$597k (191%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Guatemala WERE (2021 - 2022):
Mexico-$5.46M (-25.4%)
Peru-$287k (-100%)
United States-$248k (-94.3%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Guatemala's main exporting competitors in Soybean Oil were:
In 2022, Guatemala'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 POTENTIALMexico+ $1.52M
TOP IMPORT POTENTIALBolivia+ $2.04M

Soybean Oil’s highest export potential is Mexico. With an export gap of $1.52M.   Soybean Oil’s highest import potential is Bolivia with an import gap of $2.04M.

See methodology.

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