Soybean Oil1507 (Harmonized System 1992 for 4-digit)
2020 World Trade: $10.4B, Rnk 302 / 1217
2020 Top Exporter | Top Importer: $3.9B | $3.02B, Argentina | India
2020 Product Complexity: -0.93, Rnk 815 / 1028
2019 - 2020 Export Growth (CAGR): 16.3%, Rnk 69 / 1217
2018 Mean Tariff: 12.6%, Rnk 279 / 1259
2020 Share of World Trade: 0.062%, Rnk 302 / 1217
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).
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.
Trade By Country
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).
Trade by country
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).
Cumulative market share
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.
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).
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)
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.
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.
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