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2022
Exports $573MWorld Rnk 6 / 135
Flag Rnk 161 / 1214
2022
Destination $29.2M Morocco
2021 - 2022
FASTEST GROWING MARKET $29.2MMorocco
2022
PRODUCT COMPLEXITY IN Soybean Oil-0.93Rnk 821 / 1025
2022
Imports $357MWorld Rnk 10 / 215
Flag Rnk 240 / 1214
2022
Origin $21.9M Argentina
2021 - 2022
FASTEST GROWING ORIGIN $21.9MFrance
2022
ECONOMIC COMPLEXITY of Spain0.81Rnk 33 / 133

About

Exports In 2022, Spain exported $573M in Soybean Oil, making it the 6th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 161st most exported product in Spain. The main destination of Soybean Oil exports from Spain are: Morocco ($359M), Algeria ($77.4M), Italy ($30.8M), France ($18.2M), and United Kingdom ($16.5M).

The fastest growing export markets for Soybean Oil of Spain between 2021 and 2022 were Morocco ($29.2M), Italy ($17.7M), and Tunisia ($11.3M).

Imports In 2022, Spain imported $357M in Soybean Oil, becoming the 10th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 240th most imported product in Spain. Spain imports Soybean Oil primarily from: Argentina ($88.1M), Portugal ($67.3M), Italy ($66.5M), France ($55.9M), and Netherlands ($22.3M).

The fastest growing import markets in Soybean Oil for Spain between 2021 and 2022 were France ($21.9M), Portugal ($19.4M), and Italy ($19.4M).

Latest Trends

August 2024

About

Overview In August 2024 Spain's Soybean Oil exports accounted up to €16M and imports accounted up to €8.84M, resulting in a positive trade balance of €7.15M. Between August 2023 and August 2024 the exports of Spain's   Soybean Oil have decreased by €-6.22M (-28%) from €22.2M to €16M, while imports decreased by €-24.1M (-73.2%) from €32.9M to €8.84M.

Destinations In August 2024, Soybean Oil were exported mostly to Morocco (€8.13M), Italy (€6.17M), France (€433k), Ireland (€322k), and Peru (€275k), and were imported mostly from Netherlands (€5.65M), Portugal (€2.15M), Italy (€572k), France (€330k), and Germany (€52.6k).

Growth In August 2024, the decrease in Soybean Oil's year-by-year exports was explained primarily by a decrease in exports to Portugal (€-568k or -68%), United States (€-34k or -93.6%), and Ireland (€-27k or -11%). In August 2024, the decrease in Soybean Oil's year-by-year imports was explained primarily by a decrease in imports from Argentina (€-10.7M or -48.5%), Italy (€-8.09M or -94.8%), and Portugal (€-1.37M or -37.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€-6.22M(-28%)
IMPORT GROWTH (August 2023 - August 2024)€-24.1M(-73.2%)
MAIN EXPORTER (August 2024)Vizcaya€17.2M
MAIN DESTINATION (August 2024)Morocco€8.13M

This section shows Soybean Oil's exports and imports data at subnational level for Spain. 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)$573M
IMPORTS (2022)$357M
NET TRADE (2022)$216M

In 2022, Spain exported $573M in Soybean Oil. The main destinations of Spain exports on Soybean Oil were Morocco ($359M), Algeria ($77.4M), Italy ($30.8M), France ($18.2M), and United Kingdom ($16.5M).

In 2022, Spain imported $357M in Soybean Oil, mainly from Argentina ($88.1M), Portugal ($67.3M), Italy ($66.5M), France ($55.9M), and Netherlands ($22.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Spain WERE (2021 - 2022):
Morocco$29.2M (8.85%)
Italy$17.7M (135%)
Tunisia$11.3M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Spain WERE (2021 - 2022):
Algeria-$101M (-56.6%)
Iran-$11.8M (-100%)
United States-$7.15M (-98.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Spain's main exporting competitors in Soybean Oil were:
Argentina $6.79B
Brazil $3.99B
United States $1.06B
In 2022, Spain'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 POTENTIALFrance+ $6.49M
TOP IMPORT POTENTIALArgentina+ $9.31M

Soybean Oil’s highest export potential is France. With an export gap of $6.49M.   Soybean Oil’s highest import potential is Argentina with an import gap of $9.31M.

See methodology.

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