Soybean Oil
1507 (Harmonized System 1992 for 4-digit)
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).
Product Trade
#permalink to sectionExporters and Importers
#permalink to sectionTrade 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).
Market Dynamics
#permalink to sectionTrade 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).
Market Concentration
#permalink to sectionCumulative 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.
Net Trade
#permalink to sectionThis 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).
Disaggregation
#permalink to sectionIn 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)
Tariffs
#permalink to sectionImport Tariffs
#permalink to sectionIn 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%).
Product Complexity
#permalink to sectionDiversification Frontier
#permalink to sectionThe 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.
