Soybean Meal (HS: 2304) Product Trade, Exporters and Importers | The Observatory of Economic Complexity (2024)

Latest Data

The following visualization shows the latest trends on Soybean Meal. 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.

Exporters and Importers

In 2022 Soybean Meal were the world's 124th most traded product (out of 1,218).

In 2022, the top exporters of Soybean Meal were Argentina ($12B), Brazil ($10.4B), United States ($5.2B), Netherlands ($1.21B), and Bolivia ($1.03B).

In 2022, the top importers of Soybean Meal were Indonesia ($2.92B), Vietnam ($2.5B), Germany ($1.71B), Poland ($1.47B), and Netherlands ($1.44B).

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Market Dynamics

Between 2021 and 2022, the exports of Soybean Meal grew the fastest in Argentina ($3.27B), Brazil ($2.94B), United States ($642M), Bolivia ($311M), and Turkey ($203M).

Between 2021 and 2022, the fastest growing importers of Soybean Meal were Indonesia ($542M), Germany ($488M), Vietnam ($398M), Colombia ($395M), and Australia ($361M).

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Market Concentration

This chart shows the evolution of the market concentration of exports of Soybean Meal.

In 2022, market concentration measured using Shannon Entropy, was 3.06. This means that most of the exports of Soybean Meal are explained by 8 countries.

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Net Trade

This map shows which countries export or import more of Soybean Meal. Each country is colored based on the difference in exports and imports of Soybean Meal during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Soybean Meal were Argentina ($11.9B), Brazil ($10.4B), United States ($4.63B), Bolivia ($1.03B), and Paraguay ($585M).

In 2022, the countries that had a largest trade value in imports than in exports of Soybean Meal were Indonesia ($2.92B), Vietnam ($2.41B), France ($1.41B), Colombia ($1.39B), and Poland ($1.37B).

Country Comparison

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

Potential Exports

Soybean Meal’s highest export potential is Italy. With an export gap of $54.2M. Soybean Meal’s highest import potential is Paraguay with an import gap of $936k.

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Diversification Frontier

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.

Related Products

This visualization shows products that are likely to be exported by countries that export Soybean Meal.

Country by Relatedness

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