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2023
Exports $115kWorld Rnk 97 / 137
Flag Rnk 824 / 1123
2023
Destination $4.64k Saudi Arabia
2022 - 2023
FASTEST GROWING MARKET $4.64kGuatemala
2023
PRODUCT COMPLEXITY IN Soybean Oil-0.85Rnk 795 / 1025
2023
Imports $72.1MWorld Rnk 35 / 212
Flag Rnk 272 / 1202
2023
Origin $567k Malaysia
2022 - 2023
FASTEST GROWING ORIGIN $567kSpain
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $115k in Soybean Oil, making it the 97th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 824th most exported product in Philippines. The main destination of Soybean Oil exports from Philippines are: Saudi Arabia ($102k), Guatemala ($13.4k), and Singapore ($4).

The fastest growing export markets for Soybean Oil of Philippines between 2022 and 2023 were Guatemala ($4.64k) and Singapore ($4).

Imports In 2023, Philippines imported $72.1M in Soybean Oil, becoming the 35th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 272nd most imported product in Philippines. Philippines imports Soybean Oil primarily from: Malaysia ($34.2M), Thailand ($33.7M), Austria ($1.64M), Chinese Taipei ($739k), and Bosnia and Herzegovina ($722k).

The fastest growing import markets in Soybean Oil for Philippines between 2022 and 2023 were Spain ($567k) and Brazil ($367).

Latest Trends

Dec 2024

Subnational Monthly Trade

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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)$115k
IMPORTS (2023)$72.1M
NET TRADE (2023)-$72M

In 2023, Philippines exported $115k in Soybean Oil. The main destinations of Philippines exports on Soybean Oil were Saudi Arabia ($102k), Guatemala ($13.4k), and Singapore ($4).

In 2023, Philippines imported $72.1M in Soybean Oil, mainly from Malaysia ($34.2M), Thailand ($33.7M), Austria ($1.64M), Chinese Taipei ($739k), and Bosnia and Herzegovina ($722k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Guatemala$4.64k (53.1%)
Singapore$4 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Philippines WERE (2022 - 2023):
Saudi Arabia-$58.1k (-36.4%)
Australia-$6.85k (-100%)
Kuwait-$686 (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Philippines's main exporting competitors in Soybean Oil were:
Argentina $4.39B
Brazil $2.6B
Netherlands $608M
In 2023, Philippines's main importing competitors in Soybean Oil were:
India $3.59B
China $772M
Bangladesh $694M

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALAustralia+ $5.31k
TOP IMPORT POTENTIALChina+ $1.87M

Soybean Oil’s highest export potential is Australia. With an export gap of $5.31k.   Soybean Oil’s highest import potential is China with an import gap of $1.87M.

See methodology.

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