Overview: This page contains the latest trade data of Soybeans. In 2019, Soybeans were the world's 59th most traded product, with a total trade of $55.2B. Between 2018 and 2019 the exports of Soybeans decreased by -8.45%, from $60.3B to $55.2B. Trade in Soybeans represent 0.31% of total world trade.
Between 2018 and 2019, the fastest growing importers of Soybeans were Bangladesh ($258M), Mexico ($149M), Egypt ($117M), Thailand ($93.5M), and Spain ($55.5M).
This map shows which countries export or import more of Soybeans. Each country is colored based on the difference in exports and imports of Soybeans during 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Soybeans were Brazil ($26.1B), United States ($18.8B), Argentina ($2.09B), Paraguay ($1.57B), and Canada ($1.36B).
In 2019, the countries that had a largest trade value in imports than in exports of Soybeans were China ($32B), Mexico ($2.09B), Egypt ($1.44B), Japan ($1.41B), and Spain ($1.37B).
In 2018, the average tariff for importing Soybeans was 4.09%. The countries with the highest tariffs for importing Soybeans were South Korea (469%), Thailand (77.3%), Venezuela (38.4%), Bahamas (31.2%), and India (25.5%).
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.