2023
Exports
$23.4MWorld Rnk 40 / 137
Flag Rnk 724 / 1212
2023
PRODUCT COMPLEXITY IN Soybean Oil
-0.85Rnk 795 / 1025
2023
Imports
$3.59BWorld Rnk 1 / 212
Flag Rnk 25 / 1208
2023
ECONOMIC COMPLEXITY of India
0.65Rnk 39 / 132

About

Exports In 2023, India exported $23.4M in Soybean Oil, making it the 40th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 724th most exported product in India. The main destination of Soybean Oil exports from India are: Bhutan ($13.4M), Australia ($2.2M), United Arab Emirates ($1.71M), Indonesia ($1.36M), and Angola ($1.01M).

The fastest growing export markets for Soybean Oil of India between 2022 and 2023 were Indonesia ($1.25M), United Arab Emirates ($1.16M), and Mauritania ($845k).

Imports In 2023, India imported $3.59B in Soybean Oil, becoming the 1st largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 25th most imported product in India. India imports Soybean Oil primarily from: Argentina ($1.52B), Brazil ($1.38B), Russia ($188M), Paraguay ($182M), and Iraq ($116M).

The fastest growing import markets in Soybean Oil for India between 2022 and 2023 were Iraq ($116M), Russia ($83M), and Thailand ($72.2M).

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)$23.4M
IMPORTS (2023)$3.59B
NET TRADE (2023)-$3.56B

In 2023, India exported $23.4M in Soybean Oil. The main destinations of India exports on Soybean Oil were Bhutan ($13.4M), Australia ($2.2M), United Arab Emirates ($1.71M), Indonesia ($1.36M), and Angola ($1.01M).

In 2023, India imported $3.59B in Soybean Oil, mainly from Argentina ($1.52B), Brazil ($1.38B), Russia ($188M), Paraguay ($182M), and Iraq ($116M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR India WERE (2022 - 2023):
Indonesia$1.25M (1.09k%)
Mauritania$845k (11.9k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY India WERE (2022 - 2023):
Jordan-$10.1M (-98.9%)
Bhutan-$2.83M (-17.5%)
Angola-$1.3M (-56.4%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, India's main exporting competitors in Soybean Oil were:
In 2023, India'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 POTENTIALUnited Arab Emirates+ $344k
TOP IMPORT POTENTIALNepal+ $87.1M

Soybean Oil’s highest export potential is United Arab Emirates. With an export gap of $344k.   Soybean Oil’s highest import potential is Nepal with an import gap of $87.1M.

See methodology.

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