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2022
Exports $172MWorld Rnk 12 / 139
Flag Rnk 800 / 1216
2022
Destination $43.7M South Korea
2021 - 2022
FASTEST GROWING MARKET $43.7MSouth Korea
2022
PRODUCT COMPLEXITY IN Soybeans-1.62Rnk 963 / 1025
2022
Imports $54.1BWorld Rnk 1 / 200
Flag Rnk 6 / 1212
2022
Origin $4.64B Brazil
2021 - 2022
FASTEST GROWING ORIGIN $4.64BBrazil
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $172M in Soybeans, making it the 12th largest exporter of Soybeans in the world. At the same year, Soybeans was the 800th most exported product in China. The main destination of Soybeans exports from China are: South Korea ($90.3M), Japan ($23.8M), Turkey ($5.04M), Chinese Taipei ($4.49M), and Germany ($4.44M).

The fastest growing export markets for Soybeans of China between 2021 and 2022 were South Korea ($43.7M), Turkey ($4.72M), and Canada ($2.98M).

Imports In 2022, China imported $54.1B in Soybeans, becoming the 1st largest importer of Soybeans in the world. At the same year, Soybeans was the 6th most imported product in China. China imports Soybeans primarily from: Brazil ($31.9B), United States ($18B), Argentina ($2.89B), Canada ($675M), and Russia ($339M).

The fastest growing import markets in Soybeans for China between 2021 and 2022 were Brazil ($4.64B), United States ($3.69B), and Argentina ($1.11B).

COMPANIES In 2023, leading companies such as Walong Marketing (1) were at the forefront of shipping Soybeans from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Soybeans exports accounted up to $4.45M and imports accounted up to $3.92B, resulting in a negative trade balance of $3.91B. Between October 2023 and October 2024 the exports of China's   Soybeans have decreased by $-358k (-7.43%) from $4.81M to $4.45M, while imports increased by $972M (33%) from $2.95B to $3.92B.

Destinations In October 2024, Soybeans were exported mostly to South Korea ($2.18M), Japan ($718k), Vietnam ($439k), Philippines ($246k), and Hong Kong ($204k), and were imported mostly from Brazil ($2.62B), Argentina ($689M), Uruguay ($305M), United States ($275M), and Russia ($21.9M).

Growth In October 2024, the decrease in Soybeans's year-by-year exports was explained primarily by a decrease in exports to Japan ($-1.21M or -32.3%), South Korea ($-932k or -18.5%), and United States ($-317k or -91.3%). In October 2024, the increase in Soybeans's year-by-year imports was explained primarily by an increase in imports from Argentina ($764M or 1.04k%), Canada ($257M or 312%), and Russia ($28.5M or 111%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-358k(-7.43%)
IMPORT GROWTH (October 2023 - October 2024)$972M(33%)
MAIN EXPORTER (October 2024)Liaoning Province$4.85M
MAIN DESTINATION (October 2024)South Korea$2.18M

This section shows Soybeans'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 Soybeans over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$172M
IMPORTS (2022)$54.1B
NET TRADE (2022)-$53.9B

In 2022, China exported $172M in Soybeans. The main destinations of China exports on Soybeans were South Korea ($90.3M), Japan ($23.8M), Turkey ($5.04M), Chinese Taipei ($4.49M), and Germany ($4.44M).

In 2022, China imported $54.1B in Soybeans, mainly from Brazil ($31.9B), United States ($18B), Argentina ($2.89B), Canada ($675M), and Russia ($339M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybeans EXPORT MARKETS FOR China WERE (2021 - 2022):
South Korea$43.7M (94%)
Turkey$4.72M (1.51k%)
Canada$2.98M (977%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY China WERE (2021 - 2022):
United Kingdom-$2.71M (-78.2%)
North Korea-$1.94M (-32.8%)
Hong Kong-$487k (-15.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Soybeans were:
Brazil $47.2B
United States $34.6B
Argentina $3.25B
In 2022, China's main importing competitors in Soybeans were:
Mexico $4.08B
Japan $2.47B

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Trade Value of Soybeans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $14.6M
TOP IMPORT POTENTIALCanada+ $249M

Soybeans’s highest export potential is Japan. With an export gap of $14.6M.   Soybeans’s highest import potential is Canada with an import gap of $249M.

See methodology.

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