2023
Exports
$81.3MWorld Rnk 24 / 137
Flag Rnk 56 / 1150
2023
PRODUCT COMPLEXITY IN Soybean Oil
-0.85Rnk 795 / 1025
2023
Imports
$287MWorld Rnk 9 / 212
Flag Rnk 39 / 1192
2023
ECONOMIC COMPLEXITY of Colombia
0.23Rnk 51 / 132

About

Exports In 2023, Colombia exported $81.3M in Soybean Oil, making it the 24th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 56th most exported product in Colombia. The main destination of Soybean Oil exports from Colombia are: China ($56.2M), Venezuela ($12.7M), Ecuador ($5.76M), Dominican Republic ($2.82M), and Cuba ($2.57M).

The fastest growing export markets for Soybean Oil of Colombia between 2022 and 2023 were China ($9.21M), Cuba ($2.55M), and Dominican Republic ($1.21M).

Imports In 2023, Colombia imported $287M in Soybean Oil, becoming the 9th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 39th most imported product in Colombia. Colombia imports Soybean Oil primarily from: Bolivia ($238M), Argentina ($38.3M), United States ($9.54M), Brazil ($976k), and Ecuador ($134k).

The fastest growing import markets in Soybean Oil for Colombia between 2022 and 2023 were Brazil ($216k) and United Kingdom ($38).

Latest Trends

Jan 2025

Subnational Monthly Trade

View
Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Soybean Oil. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$81.3M
IMPORTS (2023)$287M
NET TRADE (2023)-$206M

In 2023, Colombia exported $81.3M in Soybean Oil. The main destinations of Colombia exports on Soybean Oil were China ($56.2M), Venezuela ($12.7M), Ecuador ($5.76M), Dominican Republic ($2.82M), and Cuba ($2.57M).

In 2023, Colombia imported $287M in Soybean Oil, mainly from Bolivia ($238M), Argentina ($38.3M), United States ($9.54M), Brazil ($976k), and Ecuador ($134k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Colombia WERE (2022 - 2023):
China$9.21M (19.6%)
Cuba$2.55M (14.4k%)
Dominican Republic$1.21M (75.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Colombia WERE (2022 - 2023):
Ecuador-$31.9M (-84.7%)
Venezuela-$479k (-3.62%)
Bahamas-$6.48k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Colombia's main exporting competitors in Soybean Oil were:
In 2023, Colombia's main importing competitors in Soybean Oil were:

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALDominican Republic+ $592k
TOP IMPORT POTENTIALArgentina+ $15.8M

Soybean Oil’s highest export potential is Dominican Republic. With an export gap of $592k.   Soybean Oil’s highest import potential is Argentina with an import gap of $15.8M.

See methodology.

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