Soybeans in United States

2019
Exports | Imports
: $19.1B | $292M, World Rnk 2 / 118
Flag Rnk 14 / 1217 | World Rnk 21 / 191
Flag Rnk 613 / 1215

2019
Destination | Origin
: $7.87B | $81.1M, China | Canada

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $4.52B | $30.4M, China |  Argentina

2019
ECONOMIC COMPLEXITY of United States
: 1.64, Rnk 9 / 157

2019
PRODUCT COMPLEXITY  IN Soybeans
: -1.25, Rnk 898 / 1029

Exports: In 2019, United States exported $19.1B in Soybeans, making it the 2nd largest exporter of Soybeans in the world. At the same year, Soybeans was the 14th most exported product in United States. The main destination of Soybeans exports from United States are: China ($7.87B), Mexico ($1.86B), Japan ($1B), Egypt ($1B), and Indonesia ($890M).

The fastest growing export markets for Soybeans of United States between 2018 and 2019 were China ($4.52B), South Korea ($108M), and Nepal ($53.3M).

Imports: In 2019, United States imported $292M in Soybeans, becoming the 21st largest importer of Soybeans in the world. At the same year, Soybeans was the 613th most imported product in United States. United States imports Soybeans primarily from: Canada ($81.1M), Argentina ($64.6M), India ($47.3M), Turkey ($32.2M), and Ukraine ($21.3M).

The fastest growing import markets in Soybeans for United States between 2018 and 2019 were Argentina ($30.4M), Turkey ($22.8M), and Russia ($8.85M).

Overview: In January 2021 United States' Soybeans exports accounted up to $4.15B and imports accounted up to $12.3M, resulting in a positive trade balance of $4.14B. Between January 2020 and January 2021 the exports of United States'   Soybeans have increased by $2.2B (112%) from $1.95B to $4.15B, while imports decreased by $-5.13M (-29.5%) from $17.4M to $12.3M.

Destinations: In January 2021 Soybeans exported mostly to China ($2.54B), Mexico ($216M), Netherlands ($198M), Spain ($153M), and Egypt ($133M), and imported mostly from Russia ($4.79M), Canada ($4.3M), India ($2.6M), China ($193k), and Mexico ($172k).

Growth: In January 2021, the increase in Soybeans's year-by-year exports was explained primarily by an increase in exports to China ($1.76B or 226%), Spain ($50.8M or 49.5%), and Thailand ($50.2M or 162%). In January 2021, the decrease in Soybeans's year-by-year imports was explained primarily by a decrease in imports from Canada ($-1.9M or -30.7%), India ($-1.19M or -31.3%), and Argentina ($-938k or -87.7%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $2.2B, (112%)

IMPORT GROWTH (January 2020 - January 2021): $-5.13M, (-29.5%)

MAIN EXPORTER (January 2021): Louisiana, $2.1B

MAIN DESTINATION (January 2021): China, $2.54B

This section shows Soybeans's exports and imports data at subnational level for United States. 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.

Value

EXPORTS (2019): $19.1B

IMPORTS (2019): $292M

NET TRADE (2019): $18.8B

In 2019, United States exported $19.1B in Soybeans. The main destinations of United States exports on Soybeans were China ($7.87B), Mexico ($1.86B), Japan ($1B), Egypt ($1B), and Indonesia ($890M).

In 2019, United States imported $292M in Soybeans, mainly from Canada ($81.1M), Argentina ($64.6M), India ($47.3M), Turkey ($32.2M), and Ukraine ($21.3M).

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IN 2019, United States HAD A POSITIVE NET TRADE IN Soybeans WITH:

IN 2019, United States HAD A NEGATIVE NET TRADE IN Soybeans WITH:

Flow

THE FASTEST GROWING Soybeans EXPORT MARKETS FOR United States WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY United States WERE (2018 - 2019):

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Market Concentration

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Type

In 2018, United States's main exporting competitors in Soybeans were:

In 2018, United States's main importing competitors in Soybeans were:

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Tariffs by Country

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In 2017, the tariffs for Soybeans in the imports of United States were of 0% around the world.

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