Overview In May 2022 United States' Soybeans exports accounted up to $1.56B and imports accounted up to $45.3M, resulting in a positive trade balance of $1.52B. Between May 2021 and May 2022 the exports of United States' Soybeans have increased by $818M (109%) from $747M to $1.56B, while imports decreased by $-9.94M (-18%) from $55.2M to $45.3M.
Destinations In May 2022, Soybeans were exported mostly to China ($343M), Mexico ($306M), Egypt ($215M), Indonesia ($152M), and Japan ($124M), and were imported mostly from Canada ($10.4M), Ghana ($8.85M), Argentina ($8.12M), Chile ($7.59M), and Uruguay ($2.62M).
Growth In May 2022, the increase in Soybeans's year-by-year exports was explained primarily by an increase in exports to China ($1.81B or 249%), Spain ($50.8M or 49.5%), and Thailand ($50M or 160%). In May 2022, the decrease in Soybeans's year-by-year imports was explained primarily by a decrease in imports from Canada ($-1.9M or -30.7%), India ($-1.19M or -31.3%), and Argentina ($-938k or -87.7%).