HS Icon Soybean Oil

1507 (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).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2018): Argentina, $2.95B

Top Destination (2018): India, $2.28B

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).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

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).

Explore Visualizations

Market Concentration

#permalink to section

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.

Explore Visualizations

TOP NET EXPORTER (2018): Argentina, $2.9B

TOP NET IMPORTER (2018): India, $2.27B

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).

Trade Forecasts

#permalink to section

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.

Explore Forecasts

Import Tariffs

#permalink to section

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%).

Explore Tariff Data

Product Complexity

#permalink to section

Diversification Frontier

#permalink to section
Filter

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.