Overview: In 2018, Soybeans were the world's 52nd most traded product, with a total trade of $59.2B. Between 2017 and 2018 the exports of Soybeans grew by 2.01%, from $58.1B to $59.2B. Trade in Soybeans represent 0.32% of total world trade.
Exports: In 2018 the top exporters of Soybeans were Brazil ($33.2B), United States ($17.2B), Canada ($2.25B), Paraguay ($2.23B), and Argentina ($1.46B).
Imports: In 2018 the top importers of Soybeans were China ($33.8B), Argentina ($2.36B), Mexico ($1.94B), Netherlands ($1.92B), and Japan ($1.42B).
Tariffs: In 2018 the average tariff for Soybeans was 4.09%, been the 973 lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Soybeans are South Korea (469%), Thailand (77.3%), Venezuela (38.4%), Bahamas (31.2%), and India (25.5%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), United Arab Emirates (0%), and Armenia (0%).
Ranking: Soybeans ranks 899th in the Product Complexity Index (PCI).