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2022
Exports $5.2BWorld Rnk 3 / 124
Flag Rnk 70 / 1217
2022
Destination $220M Mexico
2021 - 2022
FASTEST GROWING MARKET $220MColombia
2022
PRODUCT COMPLEXITY IN Soybean Meal-1.24Rnk 894 / 1025
2022
Imports $572MWorld Rnk 22 / 174
Flag Rnk 501 / 1216
2022
Origin $88.2M Canada
2021 - 2022
FASTEST GROWING ORIGIN $88.2MRussia
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $5.2B in Soybean Meal, making it the 3rd largest exporter of Soybean Meal in the world. At the same year, Soybean Meal was the 70th most exported product in United States. The main destination of Soybean Meal exports from United States are: Mexico ($872M), Colombia ($766M), Canada ($569M), Ecuador ($364M), and Philippines ($320M).

The fastest growing export markets for Soybean Meal of United States between 2021 and 2022 were Colombia ($220M), Venezuela ($167M), and Philippines ($82.4M).

Imports In 2022, United States imported $572M in Soybean Meal, becoming the 22nd largest importer of Soybean Meal in the world. At the same year, Soybean Meal was the 501st most imported product in United States. United States imports Soybean Meal primarily from: Canada ($194M), India ($116M), Russia ($96.1M), Turkey ($92.6M), and Togo ($23.5M).

The fastest growing import markets in Soybean Meal for United States between 2021 and 2022 were Russia ($88.2M), Canada ($71.4M), and Turkey ($57.3M).

COMPANIES In 2023, leading companies such as Walong Marketing (12), Wismettac Asian Foods (12), and Gildan Activewear (1) were at the forefront of shipping Soybean Meal to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Soybean Meal exports accounted up to $323M and imports accounted up to $34.4M, resulting in a positive trade balance of $289M. Between August 2023 and August 2024 the exports of United States'   Soybean Meal have decreased by $-79.1M (-19.7%) from $402M to $323M, while imports decreased by $-2.15M (-5.88%) from $36.6M to $34.4M.

Destinations In August 2024, Soybean Meal were exported mostly to Mexico ($56.2M), Canada ($51.9M), Ecuador ($30.4M), Dominican Republic ($28.8M), and Colombia ($25.5M), and were imported mostly from Canada ($7.63M), Turkey ($5.15M), Togo ($4.57M), Nigeria ($4.22M), and Russia ($3.75M).

Growth In August 2024, the decrease in Soybean Meal's year-by-year exports was explained primarily by a decrease in exports to Philippines ($-32.8M or -55.4%), Dominican Republic ($-20.3M or -78.4%), and Morocco ($-10.5M or -52.8%). In August 2024, the decrease in Soybean Meal's year-by-year imports was explained primarily by a decrease in imports from Ethiopia ($-1.92M or -56.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-79.1M(-19.7%)
IMPORT GROWTH (August 2023 - August 2024)$-2.15M(-5.88%)
MAIN EXPORTER (August 2024)Louisiana$286M
MAIN DESTINATION (August 2024)Mexico$56.2M

This section shows Soybean Meal's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Soybean Meal over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$5.2B
IMPORTS (2022)$572M
NET TRADE (2022)$4.63B

In 2022, United States exported $5.2B in Soybean Meal. The main destinations of United States exports on Soybean Meal were Mexico ($872M), Colombia ($766M), Canada ($569M), Ecuador ($364M), and Philippines ($320M).

In 2022, United States imported $572M in Soybean Meal, mainly from Canada ($194M), India ($116M), Russia ($96.1M), Turkey ($92.6M), and Togo ($23.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Meal EXPORT MARKETS FOR United States WERE (2021 - 2022):
Colombia$220M (40.4%)
Venezuela$167M (120%)
Philippines$82.4M (34.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Meal BY United States WERE (2021 - 2022):
Spain-$53.7M (-86%)
Peru-$33M (-69.1%)
China-$28.5M (-81.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Soybean Meal were:
Argentina $12B
Brazil $10.4B
In 2022, United States's main importing competitors in Soybean Meal were:
Indonesia $2.92B
Vietnam $2.5B
Germany $1.71B

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Trade Value of Soybean Meal by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALVietnam+ $28.9M
TOP IMPORT POTENTIALArgentina+ $23.2M

Soybean Meal’s highest export potential is Vietnam. With an export gap of $28.9M.   Soybean Meal’s highest import potential is Argentina with an import gap of $23.2M.

See methodology.

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