HS Icon Soybeans

1201 (Harmonized System 1992 for 4-digit)

Overview This page contains the latest trade data of Soybeans. In 2020, Soybeans were the world's 42nd most traded product, with a total trade of $64B. Between 2019 and 2020 the exports of Soybeans grew by 15.7%, from $55.3B to $64B. Trade in Soybeans represent 0.38% of total world trade.

Soybeans are a part of Oil seeds and oleaginous fruits. They include Soya beans.

Exports In 2020 the top exporters of Soybeans  were Brazil ($28.6B), United States ($25.6B), Argentina ($2.31B), Paraguay ($2.15B), and Canada ($1.95B).

Imports In 2020 the top importers of Soybeans were China ($37.4B), Netherlands ($2.44B), Mexico ($2.19B), Egypt ($1.82B), and Argentina ($1.76B).

Tariffs In 2018 the average tariff for Soybeans was 4.14%, making it the 976th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Soybeans are South Korea (469%), Thailand (77.3%), Bhutan (48.9%), and Venezuela (38.4%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), United Arab Emirates (0%), and Armenia (0%).

Ranking Soybeans ranks 826th in the Product Complexity Index (PCI).

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Flow
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.

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

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Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2020): Brazil, $28.6B

Top Destination (2020): China, $37.4B

Soybeans are the world's 42nd most traded product.

In 2020, the top exporters of Soybeans were Brazil ($28.6B), United States ($25.6B), Argentina ($2.31B), Paraguay ($2.15B), and Canada ($1.95B).

In 2020, the top importers of Soybeans were China ($37.4B), Netherlands ($2.44B), Mexico ($2.19B), Egypt ($1.82B), and Argentina ($1.76B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): United States, $6.37B

Top Destination Growth (2019 - 2020): China, $5.51B

Between 2019 and 2020, the exports of Soybeans grew the fastest in United States ($6.37B), Brazil ($2.52B), Paraguay ($573M), Canada ($393M), and Russia ($161M).

Between 2019 and 2020, the fastest growing importers of Soybeans were China ($5.51B), Netherlands ($886M), Egypt ($349M), Thailand ($310M), and Argentina ($296M).

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Market Concentration

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Cumulative market share

Value

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

In 2020,  market concentration measured using Shannon Entropy, was 1.98. This means that most of the exports of Soybeans are explained by 3 countries.

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TOP NET EXPORTER (2020): Brazil, $28.3B

TOP NET IMPORTER (2020): China, $37.3B

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 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Soybeans were Brazil ($28.3B), United States ($25.3B), Paraguay ($2.15B), Canada ($1.82B), and Ukraine ($719M).

In 2020, the countries that had a largest trade value in imports than in exports of Soybeans were China ($37.3B), Mexico ($2.18B), Netherlands ($2B), Egypt ($1.82B), and Thailand ($1.48B).

Disaggregation

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Value

In 2019, the world most traded Soybeans, disaggragated by their HS6 level were Soya beans ($64B)

Country Comparison

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Flow
Measure
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.

Import Tariffs

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In 2018, the average tariff for importing Soybeans was 4.14%. The countries with the highest tariffs for importing Soybeans were South Korea (469%), Thailand (77.3%), Bhutan (48.9%), and Venezuela (38.4%).

Product Complexity

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Diversification Frontier

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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

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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.