2022
Exports
$123MWorld Rnk 22 / 135
Flag Rnk 277 / 1176
2022
PRODUCT COMPLEXITY IN Soybean Oil
-0.93Rnk 821 / 1025
2022
Imports
$107MWorld Rnk 36 / 215
Flag Rnk 405 / 1208
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $123M in Soybean Oil, making it the 22nd largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 277th most exported product in Vietnam. The main destination of Soybean Oil exports from Vietnam are: South Korea ($80.6M), India ($13.1M), Nepal ($11.2M), Malaysia ($6.67M), and Laos ($3.3M).

The fastest growing export markets for Soybean Oil of Vietnam between 2021 and 2022 were Nepal ($11.2M), South Korea ($10.7M), and Japan ($782k).

Imports In 2022, Vietnam imported $107M in Soybean Oil, becoming the 36th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 405th most imported product in Vietnam. Vietnam imports Soybean Oil primarily from: Thailand ($70.1M), Argentina ($16.4M), Brazil ($11M), Malaysia ($5.61M), and China ($897k).

The fastest growing import markets in Soybean Oil for Vietnam between 2021 and 2022 were Argentina ($16.4M), Brazil ($7.14M), and Sweden ($815k).

Latest Trends

Jul 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 (2022)$123M
IMPORTS (2022)$107M
NET TRADE (2022)$16.2M

In 2022, Vietnam exported $123M in Soybean Oil. The main destinations of Vietnam exports on Soybean Oil were South Korea ($80.6M), India ($13.1M), Nepal ($11.2M), Malaysia ($6.67M), and Laos ($3.3M).

In 2022, Vietnam imported $107M in Soybean Oil, mainly from Thailand ($70.1M), Argentina ($16.4M), Brazil ($11M), Malaysia ($5.61M), and China ($897k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
Nepal$11.2M (1%)
South Korea$10.7M (15.3%)
Japan$782k (446%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Vietnam WERE (2021 - 2022):
Malaysia-$957k (-12.6%)
Laos-$756k (-18.6%)
Philippines-$735k (-79.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Soybean Oil were:
In 2022, Vietnam'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 POTENTIALIndia+ $17.5M
TOP IMPORT POTENTIALBrazil+ $8.22M

Soybean Oil’s highest export potential is India. With an export gap of $17.5M.   Soybean Oil’s highest import potential is Brazil with an import gap of $8.22M.

See methodology.

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