Soybeans in China 2020 Exports | Imports : $90.2M | $37.4B, World Rnk 14 / 132 Rnk 838 / 1215 | World Rnk 1 / 188 Rnk 5 / 1214
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $1.43M | $6.04B, Chinese Taipei | United States
2020 ECONOMIC COMPLEXITY of China: 0.96, Rnk 28 / 127
2020 PRODUCT COMPLEXITY IN Soybeans: -0.96, Rnk 828 / 1029
Exports In 2020, China exported $90.2M in Soybeans, making it the 14th largest exporter of Soybeans in the world. At the same year, Soybeans was the 838th most exported product in China. The main destination of Soybeans exports from China are: South Korea ($38M), Japan ($21.2M), Chinese Taipei ($2.81M), Canada ($2.3M), and Australia ($2.28M).
The fastest growing export markets for Soybeans of China between 2019 and 2020 were Chinese Taipei ($1.43M), Nigeria ($413k), and United States ($282k).
Imports In 2020, China imported $37.4B in Soybeans, becoming the 1st largest importer of Soybeans in the world. At the same year, Soybeans was the 5th most imported product in China. China imports Soybeans primarily from: Brazil ($20.9B), United States ($13.9B), Argentina ($1.87B), Russia ($266M), and Uruguay ($214M).
The fastest growing import markets in Soybeans for China between 2019 and 2020 were United States ($6.04B), Brazil ($457M), and Canada ($181M).
Tariffs In 2018, the average tariff for China in Soybeans was 1.86%. The countries with the highest import tariffs for Soybeans were Burkina Faso (Most Favoured Nation duty rate treatement, 2.4%), Botswana (Most Favoured Nation duty rate treatement, 2.4%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 2.4%), Cameroon (Most Favoured Nation duty rate treatement, 2.4%), and Democratic Republic of the Congo (Most Favoured Nation duty rate treatement, 2.4%).
December 2022
Overview In December 2022 China's Soybeans exports accounted up to $28.2M and imports accounted up to $6.97B, resulting in a negative trade balance of $6.94B. Between December 2021 and December 2022 the exports of China's Soybeans have increased by $17.5M (162%) from $10.8M to $28.2M, while imports increased by $1.63B (30.4%) from $5.34B to $6.97B.
Destinations In December 2022, Soybeans were exported mostly to South Korea ($24.7M), Japan ($2.6M), Taiwan ($260k), Hong Kong ($173k), and United States ($131k), and were imported mostly from United States ($4B), Brazil ($1.71B), Argentina ($935M), Canada ($269M), and Russia ($43.9M).
Growth In December 2022, the increase in Soybeans's year-by-year exports was explained primarily by an increase in exports to South Korea ($2.33M or 85.7%), Japan ($1.16M or 45%), and Australia ($273k or 1.18k%). In December 2022, the increase in Soybeans's year-by-year imports was explained primarily by an increase in imports from Brazil ($889M or 194%), United States ($741M or 24.4%), and Canada ($66.2M or 411%).
EXPORT GROWTH (December 2021 - December 2022): $17.5M, (162%)
IMPORT GROWTH (December 2021 - December 2022): $1.63B, (30.4%)
MAIN EXPORTER (December 2022): Beijing, $19.3M
MAIN DESTINATION (December 2022): South Korea, $24.7M
This section shows Soybeans's exports and imports data at subnational level for China. 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 Soybeans over time.
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EXPORTS (2020): $90.2M
IMPORTS (2020): $37.4B
NET TRADE (2020): -$37.3B
In 2020, China exported $90.2M in Soybeans. The main destinations of China exports on Soybeans were South Korea ($38M), Japan ($21.2M), Chinese Taipei ($2.81M), Canada ($2.3M), and Australia ($2.28M).
In 2020, China imported $37.4B in Soybeans, mainly from Brazil ($20.9B), United States ($13.9B), Argentina ($1.87B), Russia ($266M), and Uruguay ($214M).
THE FASTEST GROWING Soybeans EXPORT MARKETS FOR China WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY China WERE (2019 - 2020):
In 2020, China's main exporting competitors in Soybeans were:
In 2020, China's main importing competitors in Soybeans were:
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