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2022
Exports $185MWorld Rnk 16 / 135
Flag Rnk 783 / 1216
2022
Destination $42.9M Hong Kong
2021 - 2022
FASTEST GROWING MARKET $42.9MNorth Korea
2022
PRODUCT COMPLEXITY IN Soybean Oil-0.93Rnk 821 / 1025
2022
Imports $559MWorld Rnk 6 / 215
Flag Rnk 322 / 1212
2022
Origin $39.8M Brazil
2021 - 2022
FASTEST GROWING ORIGIN $39.8MColombia
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $185M in Soybean Oil, making it the 16th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 783rd most exported product in China. The main destination of Soybean Oil exports from China are: Hong Kong ($61M), North Korea ($48.8M), Malaysia ($46.7M), South Korea ($9.04M), and Singapore ($4.04M).

The fastest growing export markets for Soybean Oil of China between 2021 and 2022 were North Korea ($42.9M), Hong Kong ($27M), and Malaysia ($25.8M).

Imports In 2022, China imported $559M in Soybean Oil, becoming the 6th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 322nd most imported product in China. China imports Soybean Oil primarily from: Brazil ($240M), Argentina ($169M), Russia ($82.7M), Colombia ($47M), and Ukraine ($10.8M).

The fastest growing import markets in Soybean Oil for China between 2021 and 2022 were Colombia ($39.8M), South Korea ($226k), and Netherlands ($106k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (36), CrimsonLogic (4), and Givaudan Fragrances (2) were at the forefront of shipping Soybean Oil from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Soybean Oil exports accounted up to $9.17M and imports accounted up to $15M, resulting in a negative trade balance of $5.84M. Between October 2023 and October 2024 the exports of China's   Soybean Oil have decreased by $-3.46M (-27.4%) from $12.6M to $9.17M, while imports decreased by $-16.4M (-52.2%) from $31.4M to $15M.

Destinations In October 2024, Soybean Oil were exported mostly to North Korea ($6.52M), Hong Kong ($1.61M), Burma ($285k), Malaysia ($253k), and Macau ($252k), and were imported mostly from Argentina ($7.69M), Russia ($7.1M), Kazakhstan ($198k), Netherlands ($13.8k), and South Korea ($5.97k).

Growth In October 2024, the decrease in Soybean Oil's year-by-year exports was explained primarily by a decrease in exports to Singapore ($-229k or -73.7%), Malaysia ($-81.2k or -34.4%), and Australia ($-47.5k or -52.8%). In October 2024, the decrease in Soybean Oil's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-3.46M(-27.4%)
IMPORT GROWTH (October 2023 - October 2024)$-16.4M(-52.2%)
MAIN EXPORTER (October 2024)Guangdong Province$9.53M
MAIN DESTINATION (October 2024)North Korea$6.52M

This section shows Soybean Oil's exports and imports data at subnational level for China. 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 Oil over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$185M
IMPORTS (2022)$559M
NET TRADE (2022)-$375M

In 2022, China exported $185M in Soybean Oil. The main destinations of China exports on Soybean Oil were Hong Kong ($61M), North Korea ($48.8M), Malaysia ($46.7M), South Korea ($9.04M), and Singapore ($4.04M).

In 2022, China imported $559M in Soybean Oil, mainly from Brazil ($240M), Argentina ($169M), Russia ($82.7M), Colombia ($47M), and Ukraine ($10.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR China WERE (2021 - 2022):
North Korea$42.9M (737%)
Hong Kong$27M (79.5%)
Malaysia$25.8M (124%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY China WERE (2021 - 2022):
Bangladesh-$13.2M (-100%)
Saudi Arabia-$399k (-100%)
Zimbabwe-$350k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Soybean Oil were:
Argentina $6.79B
Brazil $3.99B
United States $1.06B
In 2022, China's main importing competitors in Soybean Oil were:
India $6.49B
Bangladesh $948M
Morocco $775M

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSouth Korea+ $6.35M
TOP IMPORT POTENTIALArgentina+ $50.7M

Soybean Oil’s highest export potential is South Korea. With an export gap of $6.35M.   Soybean Oil’s highest import potential is Argentina with an import gap of $50.7M.

See methodology.

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