HS Icon Soybeans

1201 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $55.2B, Rnk 59 / 1217

2019
Top Exporter | Top Importer
: $26.1B | $32.1B, Brazil | China

2019
Product Complexity
: -1.17, Rnk 817 / 961

2018 - 2019
Export Growth (CAGR)
: -8.45%, Rnk 903 / 1217

2018
Mean Tariff
: 4.09%, Rnk 973 / 1259

 2019
Share of World Trade
: 0.31%, Rnk 59 / 1217

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.

Exports: In 2019 the top exporters of Soybeans  were Brazil ($26.1B), United States ($19.1B), Argentina ($3.47B), Paraguay ($1.58B), and Canada ($1.57B).

Imports: In 2019 the top importers of Soybeans were China ($32.1B), Mexico ($2.09B), Netherlands ($1.6B), Egypt ($1.44B), and Japan ($1.41B).

Tariffs: In 2018 the average tariff for Soybeans was 4.09%, making it the 973rd lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Soybeans are South Korea (469%), Thailand (77.3%), Venezuela (38.4%), Bahamas (31.2%), and India (25.5%). The countries with the lowest tariffs are Angola (0%), Egypt (0%), Mauritius (0%), United Arab Emirates (0%), and Armenia (0%).

Ranking: Soybeans ranks 817th in the Product Complexity Index (PCI).

Exporters and Importers

#permalink to section

Trade By Country

Top Origin (2019): Brazil, $26.1B

Top Destination (2019): China, $32.1B

Soybeans are the world's 59th most traded product.

In 2019, the top exporters of Soybeans were Brazil ($26.1B), United States ($19.1B), Argentina ($3.47B), Paraguay ($1.58B), and Canada ($1.57B).

In 2019, the top importers of Soybeans were China ($32.1B), Mexico ($2.09B), Netherlands ($1.6B), Egypt ($1.44B), and Japan ($1.41B).

Explore Visualizations

Market Dynamics

#permalink to section

Trade by country

Value

Top Origin Growth (2018 -  2019): Argentina, $1.98B

Top Destination Growth (2018 - 2019): Bangladesh, $258M

Between 2018 and 2019, the exports of Soybeans grew the fastest in Argentina ($1.98B), United States ($1.84B), Uruguay ($399M), Ukraine ($178M), and Romania ($45.9M).

Between 2018 and 2019, the fastest growing importers of Soybeans were Bangladesh ($258M), Mexico ($149M), Egypt ($117M), Thailand ($93.5M), and Spain ($55.5M).

Explore Visualizations

Market Concentration

#permalink to section

Cumulative market share

This chart shows the evolution of the market concentration of exports of Soybeans.

In 2019,  market concentration measured using Shannon Entropy, was 2.06. This means that most of the exports of Soybeans are explained by 4 countries.

Explore Visualizations

TOP NET EXPORTER (2019): Brazil, $26.1B

TOP NET IMPORTER (2019): China, $32B

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).

Disaggregation

#permalink to section
Value

In 2019, the world most traded Soybeans, disaggragated by their HS6 level were Soya beans ($55.2B)

Import Tariffs

#permalink to section

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%).

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.