Soybean Oil1507 (Harmonized System 1992 for 4-digit)
World Trade (2019): $8.79B, Rnk 352 / 1217
Top Exporter (2019): $3.38B, Argentina
Top Importer (2019): $2.39B, India
Product Complexity (2019): -0.78, Rnk 726 / 961
Export Growth (CAGR)(2018 - 2019): -2.25%, Rnk 564 / 1217
Mean Tariff (2018): 12.8%, Rnk 282 / 1259
Share of World Trade (2019): 0.049%, Rnk 352 / 1217
Overview: This page contains the latest trade data of Soybean Oil. In 2019, Soybean Oil were the world's 352nd most traded product, with a total trade of $8.79B. Between 2018 and 2019 the exports of Soybean Oil decreased by -2.25%, from $8.99B to $8.79B. Trade in Soybean Oil represent 0.049% of total world trade.
Exports: In 2019 the top exporters of Soybean Oil were Argentina ($3.38B), United States ($724M), Brazil ($697M), Netherlands ($465M), and Russia ($398M).
Imports: In 2019 the top importers of Soybean Oil were India ($2.39B), Algeria ($561M), China ($521M), Bangladesh ($488M), and Morocco ($387M).
Tariffs: In 2018 the average tariff for Soybean Oil was 12.8%, making it the 282nd 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 726th in the Product Complexity Index (PCI).
Trade By Country
Soybean Oil are the world's 352nd most traded product.
In 2019, the top exporters of Soybean Oil were Argentina ($3.38B), United States ($724M), Brazil ($697M), Netherlands ($465M), and Russia ($398M).
In 2019, the top importers of Soybean Oil were India ($2.39B), Algeria ($561M), China ($521M), Bangladesh ($488M), and Morocco ($387M).
Trade by country
Between 2018 and 2019, the exports of Soybean Oil grew the fastest in Argentina ($349M), Switzerland ($91.3M), Egypt ($64.1M), Ukraine ($58.4M), and Nepal ($47.8M).
Between 2018 and 2019, the fastest growing importers of Soybean Oil were India ($100M), Egypt ($76.9M), Algeria ($65.1M), Argentina ($62.4M), and Ecuador ($62.2M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Soybean Oil.
In 2019, market concentration measured using Shannon Entropy, was 3.78. 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 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Soybean Oil were Argentina ($3.29B), Brazil ($667M), United States ($589M), Paraguay ($383M), and Netherlands ($380M).
In 2019, the countries that had a largest trade value in imports than in exports of Soybean Oil were India ($2.37B), Algeria ($561M), Bangladesh ($487M), Morocco ($381M), and Peru ($356M).
In 2019, the world most traded Soybean Oil, disaggragated by their HS6 level were Soya-bean oil crude, whether or not... ($7.16B) and Refined soya-bean oil, not chemically modified ($1.63B)
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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