Soybean Oil1507 (Harmonized System 1992 for 4-digit)
World Trade (2018): $8.75B, Rnk 356 / 1225
Top Exporter (2018): $2.95B, Argentina
Top Importer (2018): $2.28B, India
Product Complexity (2018): -0.96, Rnk 810 / 1018
Export Growth (CAGR)(2017 - 2018): -5.98%, Rnk 1147 / 1225
Mean Tariff (2018): 12.8%, Rnk 282 / 1259
Share of World Trade (2018): 0.048%, Rnk 356 / 1225
Overview: This page contains the latest trade data of Soybean Oil. In 2018, Soybean Oil were the world's 356th most traded product, with a total trade of $8.75B. Between 2017 and 2018 the exports of Soybean Oil decreased by -5.98%, from $9.3B to $8.75B. Trade in Soybean Oil represent 0.048% of total world trade.
Exports: In 2018 the top exporters of Soybean Oil were Argentina ($2.95B), Brazil ($1.03B), United States ($863M), Netherlands ($512M), and Paraguay ($473M).
Imports: In 2018 the top importers of Soybean Oil were India ($2.28B), Bangladesh ($653M), Algeria ($496M), China ($488M), and Morocco ($379M).
Tariffs: In 2018 the average tariff for Soybean Oil was 12.8%, been the 282 lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Soybean Oil are Barbados (149%), Thailand (142%), Jamaica (40%), Venezuela (38.5%), and Trinidad and Tobago (37.8%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Hong Kong (0%), Japan (0%), and Laos (0%).
Ranking: Soybean Oil ranks 810th in the Product Complexity Index (PCI).
Trade By Country
Soybean Oil are the world's 356th most traded product.
In 2018, the top exporters of Soybean Oil were Argentina ($2.95B), Brazil ($1.03B), United States ($863M), Netherlands ($512M), and Paraguay ($473M).
In 2018, the top importers of Soybean Oil were India ($2.28B), Bangladesh ($653M), Algeria ($496M), China ($488M), and Morocco ($379M).
Trade by country
Top Origin Growth (2017 - 2018): China, $82.4M
Top Destination Growth (2017 - 2018): Venezuela, $74.2M
Between 2017 and 2018, the exports of Soybean Oil grew the fastest in China ($82.4M), Switzerland ($60.5M), Netherlands ($53.9M), Thailand ($51.2M), and Belarus ($30.8M).
Between 2017 and 2018, the fastest growing importers of Soybean Oil were Venezuela ($74.2M), Zimbabwe ($37.6M), Bangladesh ($35.7M), France ($33.4M), and Argentina ($30.9M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Soybean Oil.
In 2018, market concentration measured using Shannon Entropy, was 3.79. This means that most of the exports of Soybean Oil are explained by 13 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 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Soybean Oil were Argentina ($2.9B), Brazil ($1B), United States ($734M), Paraguay ($468M), and Netherlands ($410M).
In 2018, the countries that had a largest trade value in imports than in exports of Soybean Oil were India ($2.27B), Bangladesh ($643M), Morocco ($369M), China ($276M), and Colombia ($237M).
This section shows forecasts for total trade for Soybean Oil. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
In 2018, the average tariff for importing Soybean Oil was 12.8%. The countries with the highest tariffs for importing Soybean Oil were Barbados (149%), Thailand (142%), Jamaica (40%), Venezuela (38.5%), and Trinidad and Tobago (37.8%).
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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