2022
Exports
$16.1kWorld Rnk 112 / 135
Flag Rnk 968 / 1127
2022
PRODUCT COMPLEXITY IN Soybean Oil
-0.93Rnk 821 / 1025
2022
Imports
$103MWorld Rnk 37 / 215
Flag Rnk 262 / 1201
2022
ECONOMIC COMPLEXITY of Philippines
0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $16.1k in Soybean Oil, making it the 112th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 968th most exported product in Philippines. The main destination of Soybean Oil exports from Philippines are: Guatemala ($7.8k), Australia ($6.19k), Kuwait ($2.01k), India ($55), and Germany ($8).

The fastest growing export markets for Soybean Oil of Philippines between 2021 and 2022 were Guatemala ($7.8k), Australia ($6.19k), and Kuwait ($2.01k).

Imports In 2022, Philippines imported $103M in Soybean Oil, becoming the 37th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 262nd most imported product in Philippines. Philippines imports Soybean Oil primarily from: Malaysia ($51.2M), Thailand ($45.1M), China ($2.26M), Austria ($1.41M), and Bosnia and Herzegovina ($917k).

The fastest growing import markets in Soybean Oil for Philippines between 2021 and 2022 were Malaysia ($16.9M), Thailand ($11.5M), and China ($2.23M).

Latest Trends

Sep 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)$16.1k
IMPORTS (2022)$103M
NET TRADE (2022)-$103M

In 2022, Philippines exported $16.1k in Soybean Oil. The main destinations of Philippines exports on Soybean Oil were Guatemala ($7.8k), Australia ($6.19k), Kuwait ($2.01k), India ($55), and Germany ($8).

In 2022, Philippines imported $103M in Soybean Oil, mainly from Malaysia ($51.2M), Thailand ($45.1M), China ($2.26M), Austria ($1.41M), and Bosnia and Herzegovina ($917k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Guatemala$7.8k (1%)
Australia$6.19k (1%)
Kuwait$2.01k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Philippines WERE (2021 - 2022):
Mauritania-$401k (-100%)
Saudi Arabia-$15.8k (-100%)
Switzerland-$402 (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Philippines's main exporting competitors in Soybean Oil were:
In 2022, Philippines'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 POTENTIALAustralia+ $5.31k
TOP IMPORT POTENTIALChina+ $1.87M

Soybean Oil’s highest export potential is Australia. With an export gap of $5.31k.   Soybean Oil’s highest import potential is China with an import gap of $1.87M.

See methodology.

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