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2022
Exports $34.6BWorld Rnk 2 / 139
Flag Rnk 10 / 1217
2022
Destination $3.69B China
2021 - 2022
FASTEST GROWING MARKET $3.69BChina
2022
PRODUCT COMPLEXITY IN Soybeans-1.62Rnk 963 / 1025
2022
Imports $438MWorld Rnk 24 / 200
Flag Rnk 576 / 1216
2022
Origin $42.2M Canada
2021 - 2022
FASTEST GROWING ORIGIN $42.2MArgentina
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $34.6B in Soybeans, making it the 2nd largest exporter of Soybeans in the world. At the same year, Soybeans was the 10th most exported product in United States. The main destination of Soybeans exports from United States are: China ($18B), Mexico ($3.64B), Egypt ($1.97B), Japan ($1.82B), and Germany ($1.4B).

The fastest growing export markets for Soybeans of United States between 2021 and 2022 were China ($3.69B), Mexico ($969M), and Germany ($625M).

Imports In 2022, United States imported $438M in Soybeans, becoming the 24th largest importer of Soybeans in the world. At the same year, Soybeans was the 576th most imported product in United States. United States imports Soybeans primarily from: Canada ($129M), Argentina ($108M), Turkey ($71.8M), Togo ($42.4M), and Russia ($31.3M).

The fastest growing import markets in Soybeans for United States between 2021 and 2022 were Argentina ($42.2M), Togo ($38.1M), and Turkey ($28M).

COMPANIES In 2023, leading companies such as Pirelli Tires (2), Walong Marketing (1), and Wismettac Asian Foods (1) were at the forefront of shipping Soybeans to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Soybeans exports accounted up to $815M and imports accounted up to $38.6M, resulting in a positive trade balance of $776M. Between August 2023 and August 2024 the exports of United States'   Soybeans have decreased by $-193M (-19.1%) from $1.01B to $815M, while imports increased by $8.5M (28.3%) from $30.1M to $38.6M.

Destinations In August 2024, Soybeans were exported mostly to Mexico ($171M), China ($136M), Germany ($126M), Indonesia ($90.8M), and Egypt ($88.8M), and were imported mostly from Canada ($20M), Argentina ($9.48M), Turkey ($8.48M), Togo ($204k), and China ($179k).

Growth In August 2024, the decrease in Soybeans's year-by-year exports was explained primarily by a decrease in exports to United Kingdom ($-28.1M or -99.7%), South Korea ($-22.1M or -34.4%), and Colombia ($-14.9M or -46.9%). In August 2024, the increase in Soybeans's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-193M(-19.1%)
IMPORT GROWTH (August 2023 - August 2024)$8.5M(28.3%)
MAIN EXPORTER (August 2024)Louisiana$1.66B
MAIN DESTINATION (August 2024)Mexico$171M

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.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$34.6B
IMPORTS (2022)$438M
NET TRADE (2022)$34.1B

In 2022, United States exported $34.6B in Soybeans. The main destinations of United States exports on Soybeans were China ($18B), Mexico ($3.64B), Egypt ($1.97B), Japan ($1.82B), and Germany ($1.4B).

In 2022, United States imported $438M in Soybeans, mainly from Canada ($129M), Argentina ($108M), Turkey ($71.8M), Togo ($42.4M), and Russia ($31.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybeans EXPORT MARKETS FOR United States WERE (2021 - 2022):
China$3.69B (25.9%)
Mexico$969M (36.3%)
Germany$625M (80.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY United States WERE (2021 - 2022):
Thailand-$236M (-47.8%)
Bangladesh-$125M (-26.3%)
Netherlands-$113M (-21.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Soybeans were:
Brazil $47.2B
Argentina $3.25B
In 2022, United States's main importing competitors in Soybeans were:
China $54.1B
Mexico $4.08B
Japan $2.47B

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Trade Value of Soybeans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $147M
TOP IMPORT POTENTIALCanada+ $81M

Soybeans’s highest export potential is Canada. With an export gap of $147M.   Soybeans’s highest import potential is Canada with an import gap of $81M.

See methodology.

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