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120100 (Harmonized System 1992 for 6-digit)

2023
World Trade $92.9BRnk 27 / 4644
2023
Top Exporter | Top Importer $53.1B | $56.6BBrazil | China
2023
Product Complexity -1.94Rnk 4502 / 4656
2022 - 2023
Export Growth (CAGR) -2.83%Rnk 1836 / 4644
2023
Share of World Trade 0.41%Rnk 27 / 4644

About

Overview This page contains the latest trade data of Soya beans. In 2023, Soya beans were the world's 27th most traded product, with a total trade of $92.9B. Between 2022 and 2023 the exports of Soya beans decreased by -2.83%, from $95.7B to $92.9B. Trade in Soya beans represent 0.41% of total world trade.

Soya beans are a part of Soybeans.

Exports In 2023 the top exporters of Soya beans  were Brazil ($53.1B), United States ($27.2B), Paraguay ($3.26B), Canada ($2.67B), and Ukraine ($1.39B).

Imports In 2023 the top importers of Soya beans were China ($56.6B), Argentina ($5.41B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.03B).

Ranking Soya beans ranks 4502nd in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Soya beans. 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)Brazil$53.1B
Top Destination (2023)China$56.6B

In 2023 Soya beans were the world's 27th most traded product (out of 4,644).

In 2023, the top exporters of Soya beans were Brazil ($53.1B), United States ($27.2B), Paraguay ($3.26B), Canada ($2.67B), and Ukraine ($1.39B).

In 2023, the top importers of Soya beans were China ($56.6B), Argentina ($5.41B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.03B).

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Exporters of Soya beans (2023)
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Importers of Soya beans (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Brazil$5.1B
Top Destination Growth (2022 -  2023)Argentina$3.49B

Between 2022 and 2023, the exports of Soya beans grew the fastest in Brazil ($5.1B), Paraguay ($1.96B), Ukraine ($503M), South Africa ($307M), and Russia ($284M).

Between 2022 and 2023, the fastest growing importers of Soya beans were Argentina ($3.49B), China ($1.24B), Iraq ($353M), India ($180M), and Mexico ($95.7M).

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Exporters of Soya beans (2022 - 2023)

Importers of Soya beans (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Soya beans.

In 2023, market concentration measured using Shannon Entropy, was 1.88. This means that most of the exports of Soya beans are explained by 3 countries.

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Value of Exports in Soya beans

Net Trade

TOP NET EXPORTER (2023)Brazil$53B
TOP NET IMPORTER (2023)China$56.5B

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

In 2023, the countries that had a largest trade value in exports than in imports of Soya beans were Brazil ($53B), United States ($26.7B), Paraguay ($3.25B), Canada ($2.4B), and Ukraine ($1.39B).

In 2023, the countries that had a largest trade value in imports than in exports of Soya beans were China ($56.5B), Argentina ($4.29B), Japan ($2.14B), Mexico ($2.09B), and Spain ($2.02B).

Net Trade (2023)

Country Comparison

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Ranking

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

Top 10 Exporters Countries of Soya beans by percentage of total exports

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)

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