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Soya beans, whether or not broken

1201 (Harmonized System 1992 for 4-digit)

2023
World Trade $92.9BRnk 34 / 1217
2023
Top Exporter | Top Importer $53.1B | $56.6BBrazil | China
2023
Product Complexity -2.14Rnk 1018 / 1044
2022 - 2023
Export Growth (CAGR) -2.83%Rnk 494 / 1217
2023
Share of World Trade 0.41%Rnk 34 / 1217

About

Overview This page contains the latest trade data of Soybeans. In 2023, Soybeans were the world's 34th most traded product, with a total trade of $92.9B. Between 2022 and 2023 the exports of Soybeans decreased by -2.83%, from $95.7B to $92.9B. Trade in Soybeans represent 0.41% of total world trade.

Soybeans are a part of Oils seeds, oleaginous fruits, grains, straw & fodder. They include Soya beans.

Exports In 2023 the top exporters of Soybeans  were Brazil ($53.1B), United States ($27.2B), Paraguay ($3.26B), Canada ($2.67B), and Ukraine ($1.39B).

Imports In 2023 the top importers of Soybeans were China ($56.6B), Argentina ($5.41B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.03B).

Ranking Soybeans ranks 1018th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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Y-AXIS SCALE

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

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)Brazil$53.1B
Top Destination (2023)China$56.6B

In 2023 Soybeans were the world's 34th most traded product (out of 1,217).

In 2023, the top exporters of Soybeans were Brazil ($53.1B), United States ($27.2B), Paraguay ($3.26B), Canada ($2.67B), and Ukraine ($1.39B).

In 2023, the top importers of Soybeans were China ($56.6B), Argentina ($5.41B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.03B).

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Exporters of Soybeans (2023)
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Importers of Soybeans (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Brazil$5.1B
Top Destination Growth (2022 -  2023)Argentina$3.49B

Between 2022 and 2023, the exports of Soybeans grew the fastest in Brazil ($5.1B), Paraguay ($1.96B), Ukraine ($503M), South Africa ($307M), and Russia ($284M).

Between 2022 and 2023, the fastest growing importers of Soybeans were Argentina ($3.49B), China ($1.24B), Iraq ($353M), India ($180M), and Mexico ($95.7M).

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Exporters of Soybeans (2022 - 2023)

Importers of Soybeans (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Soybeans.

In 2023, market concentration measured using Shannon Entropy, was 1.88. This means that most of the exports of Soybeans are explained by 3 countries.

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Value of Exports in Soybeans

Net Trade

TOP NET EXPORTER (2023)Brazil$53B
TOP NET IMPORTER (2023)China$56.5B

This map shows which countries export or import more of Soybeans. Each country is colored based on the difference in exports and imports of Soybeans during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Soybeans were Brazil ($53B), United States ($26.7B), Paraguay ($3.25B), Canada ($2.4B), and Ukraine ($1.39B).

In 2023, the countries that had a largest trade value in imports than in exports of Soybeans were China ($56.5B), Argentina ($4.29B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.02B).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Soybeans by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALMexico+ $207M
TOP IMPORT POTENTIALUruguay+ $8.67M

Soybeans’s highest export potential is Mexico. With an export gap of $207M.  Soybeans’s highest import potential is Uruguay with an import gap of $8.67M.

See methodology.

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Product Complexity

Diversification Frontier

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.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Soybeans.

Country by Relatedness

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

Relative Relatedness by Country (2023)

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