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2023
Exports $138MWorld Rnk 14 / 142
Flag Rnk 819 / 1215
2023
Destination $1.99M South Korea
2022 - 2023
FASTEST GROWING MARKET $1.99MVietnam
2023
PRODUCT COMPLEXITY IN Soybeans-1.67Rnk 968 / 1025
2023
Imports $56.6BWorld Rnk 1 / 193
Flag Rnk 7 / 1214
2023
Origin $6.17B Brazil
2022 - 2023
FASTEST GROWING ORIGIN $6.17BBrazil
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $138M in Soybeans, making it the 14th largest exporter of Soybeans in the world. At the same year, Soybeans was the 819th most exported product in China. The main destination of Soybeans exports from China are: South Korea ($49.6M), Japan ($21.8M), Germany ($7.87M), Chinese Taipei ($6.32M), and Canada ($5.97M).

The fastest growing export markets for Soybeans of China between 2022 and 2023 were Vietnam ($1.99M), Nigeria ($829k), and Mozambique ($395k).

Imports In 2023, China imported $56.6B in Soybeans, becoming the 1st largest importer of Soybeans in the world. At the same year, Soybeans was the 7th most imported product in China. China imports Soybeans primarily from: Brazil ($38.6B), United States ($15.2B), Argentina ($949M), Canada ($855M), and Russia ($686M).

The fastest growing import markets in Soybeans for China between 2022 and 2023 were Brazil ($6.17B), Russia ($303M), and Canada ($249M).

Latest Trends

December 2024

About

Overview In December 2024 China's Soybeans exports accounted up to $6.91M and imports accounted up to $3.72B, resulting in a negative trade balance of $3.71B. Between December 2023 and December 2024 the exports of China's   Soybeans have decreased by $-848k (-10.9%) from $7.76M to $6.91M, while imports decreased by $-1.92B (-34.1%) from $5.64B to $3.72B.

Destinations In December 2024, Soybeans were exported mostly to South Korea ($5.01M), Japan ($649k), Vietnam ($422k), Singapore ($159k), and United States ($140k), and were imported mostly from United States ($1.99B), Brazil ($1.38B), Argentina ($125M), Uruguay ($119M), and Canada ($97.1M).

Growth In December 2024, the decrease in Soybeans's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-3.54M or -85.9%), Japan ($-568k or -22.4%), and United Kingdom ($-85.5k or -66%). In December 2024, the decrease in Soybeans's year-by-year imports was explained primarily by a decrease in imports from United States ($-1.67B or -46.4%), Argentina ($-747M or -89.2%), and Canada ($-206M or -60.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-848k(-10.9%)
IMPORT GROWTH (December 2023 - December 2024)$-1.92B(-34.1%)
MAIN EXPORTER (December 2024)Liaoning Province$5.88M
MAIN DESTINATION (December 2024)South Korea$5.01M

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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Historical Data

Trade Balance

Color
EXPORTS (2023)$138M
IMPORTS (2023)$56.6B
NET TRADE (2023)-$56.5B

In 2023, China exported $138M in Soybeans. The main destinations of China exports on Soybeans were South Korea ($49.6M), Japan ($21.8M), Germany ($7.87M), Chinese Taipei ($6.32M), and Canada ($5.97M).

In 2023, China imported $56.6B in Soybeans, mainly from Brazil ($38.6B), United States ($15.2B), Argentina ($949M), Canada ($855M), and Russia ($686M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybeans EXPORT MARKETS FOR China WERE (2022 - 2023):
Vietnam$1.99M (188%)
Nigeria$829k (52.7%)
Mozambique$395k (27.9k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY China WERE (2022 - 2023):
South Korea-$38.2M (-43.5%)
Turkey-$5.3M (-94.2%)
United Kingdom-$4.9M (-68%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Soybeans were:
Brazil $53.1B
United States $27.2B
Paraguay $3.26B
In 2023, China's main importing competitors in Soybeans were:
Argentina $5.41B
Japan $2.14B

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Trade Value of Soybeans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $14.6M
TOP IMPORT POTENTIALCanada+ $249M

Soybeans’s highest export potential is Japan. With an export gap of $14.6M.   Soybeans’s highest import potential is Canada with an import gap of $249M.

See methodology.

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