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Soups and broths and preparations therefor; homogenised composite food preparations

2104 (Harmonized System 1992 for 4-digit)

2023
World Trade $4.46BRnk 577 / 1217
2023
Top Exporter | Top Importer $805M | $591MUnited States | United States
2023
Product Complexity -0.45Rnk 711 / 1044
2022 - 2023
Export Growth (CAGR) 13.3%Rnk 111 / 1217
2023
Share of World Trade 0.02%Rnk 577 / 1217

About

Overview This page contains the latest trade data of Soups and Broths. In 2023, Soups and Broths were the world's 577th most traded product, with a total trade of $4.46B. Between 2022 and 2023 the exports of Soups and Broths grew by 13.3%, from $3.93B to $4.46B. Trade in Soups and Broths represent 0.02% of total world trade.

Soups and Broths are a part of Miscellaneous edible preparations. They include Soups and broths and preparations thereof and Homogenised composite food preparations.

Exports In 2023 the top exporters of Soups and Broths  were United States ($805M), Germany ($264M), Spain ($256M), Canada ($216M), and China ($172M).

Imports In 2023 the top importers of Soups and Broths were United States ($591M), Mexico ($446M), Canada ($327M), Germany ($247M), and Netherlands ($212M).

Ranking Soups and Broths ranks 711th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Soups and Broths. Countries are shown based on data availability.

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)United States$805M
Top Destination (2023)United States$591M

In 2023 Soups and Broths were the world's 577th most traded product (out of 1,217).

In 2023, the top exporters of Soups and Broths were United States ($805M), Germany ($264M), Spain ($256M), Canada ($216M), and China ($172M).

In 2023, the top importers of Soups and Broths were United States ($591M), Mexico ($446M), Canada ($327M), Germany ($247M), and Netherlands ($212M).

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Exporters of Soups and Broths (2023)
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Importers of Soups and Broths (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)United States$174M
Top Destination Growth (2022 -  2023)Mexico$171M

Between 2022 and 2023, the exports of Soups and Broths grew the fastest in United States ($174M), Germany ($56M), Spain ($53.6M), United Arab Emirates ($46.9M), and Romania ($27.4M).

Between 2022 and 2023, the fastest growing importers of Soups and Broths were Mexico ($171M), United States ($79.2M), Netherlands ($46.4M), Germany ($36.9M), and Saudi Arabia ($33.3M).

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Exporters of Soups and Broths (2022 - 2023)

Importers of Soups and Broths (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Soups and Broths.

In 2023, market concentration measured using Shannon Entropy, was 5.05. This means that most of the exports of Soups and Broths are explained by 33 countries.

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Value of Exports in Soups and Broths

Net Trade

TOP NET EXPORTER (2023)United States$214M
TOP NET IMPORTER (2023)Mexico$324M

This map shows which countries export or import more of Soups and Broths. Each country is colored based on the difference in exports and imports of Soups and Broths during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Soups and Broths were United States ($214M), Spain ($202M), China ($160M), Senegal ($135M), and United Arab Emirates ($110M).

In 2023, the countries that had a largest trade value in imports than in exports of Soups and Broths were Mexico ($324M), United Kingdom ($114M), Canada ($111M), Saudi Arabia ($109M), and Netherlands ($98M).

Net Trade (2023)

Disaggregation

Value

In 2023, the world most traded Soups and Broths, disaggragated by their HS6 level were Soups and broths and preparations thereof ($3.81B) and Homogenised composite food preparations ($648M)

HS6 Disaggregation for Soups and Broths (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Soups and Broths.
It is possible to select the main countries that export or import Soups and Broths in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Soups and Broths by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALJapan+ $2.74M
TOP IMPORT POTENTIALChina+ $7.36M

Soups and Broths’s highest export potential is Japan. With an export gap of $2.74M.  Soups and Broths’s highest import potential is China with an import gap of $7.36M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

Related Products

This visualization shows products that are likely to be exported by countries that export Soups and Broths.

Country by Relatedness

The following visualization shows the relatedness of Soups and Broths to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2023)

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