HS Icon Soybean Oil

1507 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Soybean Oil. In 2020, Soybean Oil were the world's 302nd most traded product, with a total trade of $10.4B. Between 2019 and 2020 the exports of Soybean Oil grew by 16.3%, from $8.98B to $10.4B. Trade in Soybean Oil represent 0.062% of total world trade.

Soybean Oil are a part of Animal or vegetable fats, oils, & waxes. They include Soya-bean oil crude, whether or not degummed and Refined soya-bean oil, not chemically modified.

Exports In 2020 the top exporters of Soybean Oil  were Argentina ($3.9B), United States ($1.03B), Brazil ($767M), Netherlands ($545M), and Russia ($444M).

Imports In 2020 the top importers of Soybean Oil were India ($3.02B), China ($789M), Algeria ($494M), Bangladesh ($461M), and Morocco ($391M).

Tariffs In 2018 the average tariff for Soybean Oil was 12.6%, making it the 279th lowest tariff using the HS4 product classification.

Ranking Soybean Oil ranks 815th in the Product Complexity Index (PCI).

View
Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Soybean Oil. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

* Using January 2020 exchange rates when trade data is reported in local currency.

Explore Latest Trends

Historical Data

#permalink to section

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2020): Argentina, $3.9B

Top Destination (2020): India, $3.02B

Soybean Oil are the world's 302nd most traded product.

In 2020, the top exporters of Soybean Oil were Argentina ($3.9B), United States ($1.03B), Brazil ($767M), Netherlands ($545M), and Russia ($444M).

In 2020, the top importers of Soybean Oil were India ($3.02B), China ($789M), Algeria ($494M), Bangladesh ($461M), and Morocco ($391M).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2019 -  2020): Argentina, $434M

Top Destination Growth (2019 - 2020): India, $631M

Between 2019 and 2020, the exports of Soybean Oil grew the fastest in Argentina ($434M), United States ($309M), Nepal ($144M), Slovakia ($94.1M), and Netherlands ($82.7M).

Between 2019 and 2020, the fastest growing importers of Soybean Oil were India ($631M), China ($254M), Brazil ($137M), Egypt ($107M), and Venezuela ($102M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Soybean Oil.

In 2020,  market concentration measured using Shannon Entropy, was 3.88. This means that most of the exports of Soybean Oil are explained by 14 countries.

Explore Visualizations

TOP NET EXPORTER (2020): Argentina, $3.85B

TOP NET IMPORTER (2020): India, $3B

This map shows which countries export or import more of Soybean Oil. Each country is colored based on the difference in exports and imports of Soybean Oil during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Soybean Oil were Argentina ($3.85B), United States ($923M), Brazil ($599M), Netherlands ($468M), and Paraguay ($410M).

In 2020, the countries that had a largest trade value in imports than in exports of Soybean Oil were India ($3B), China ($679M), Algeria ($493M), Bangladesh ($458M), and Peru ($365M).

Disaggregation

#permalink to section
Value

In 2020, the world most traded Soybean Oil, disaggragated by their HS6 level were Soya-bean oil crude, whether or not... ($8.27B) and Refined soya-bean oil, not chemically modified ($2.18B)

Country Comparison

#permalink to section
Flow
Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Soybean Oil.
It is possible to select the main countries that export or import Soybean Oil in the world, or by continent, as well as select the measure of interest.

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Country by Relatedness

#permalink to section

The following visualization shows the relatedness of Soybean Oil to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.