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Soybeans: top exporters and importers (2024)

In 2024, world trade in soybeans totaled $80.2 billion (171.5 million tonnes). Brazil accounted for 55% of exports, followed by the United States (29%) and Paraguay (4%); China accounted for 59% of imports, followed by Argentina (4%) and Spain (3%). Compared with 2019, the value rose 40%.

Summary

World trade
$80.2billion
Tonnes
171.5million tonnes
Price per tonne
$468
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. Brazil$44.4 billion · 55.4%
    see destinations
  2. United States$23.2 billion · 28.9%
    see destinations
  3. Paraguay$3.3 billion · 4.1%
    see destinations
  4. Canada$2.4 billion · 3.1%
    see destinations
  5. Argentina$2 billion · 2.5%
    see destinations
  6. Ukraine$1.4 billion · 1.8%
    see destinations
  7. Uruguay$598 million · 0.75%
  8. Russia$358 million · 0.45%
  9. Togo$249 million · 0.31%
  10. Benin$249 million · 0.31%
  11. Nigeria$209 million · 0.26%
  12. China$144 million · 0.18%
  13. Niger$134 million · 0.17%
  14. Netherlands$111 million · 0.14%
    re-exports
  15. Romania$110 million · 0.14%
  16. Croatia$104 million · 0.13%
  17. Austria$102 million · 0.13%
  18. Poland$90 million · 0.11%
  19. Bolivia$85 million · 0.11%
  20. South Africa$83 million · 0.1%

Top importers

  1. China$47.5 billion · 59.2%
    see sources
  2. Argentina$3.2 billion · 3.9%
    see sources
  3. Spain$2.5 billion · 3.1%
    see sources
  4. Mexico$1.9 billion · 2.4%
    see sources
  5. Thailand$1.8 billion · 2.3%
    see sources
  6. Japan$1.8 billion · 2.3%
    see sources
  7. Egypt$1.7 billion · 2.2%
    see sources
  8. Germany$1.6 billion · 2%
    see sources
  9. Turkey$1.6 billion · 2%
    see sources
  10. Indonesia$1.4 billion · 1.7%
  11. Taiwan$1.2 billion · 1.6%
  12. Italy$1.2 billion · 1.5%
  13. Netherlands$1.1 billion · 1.4%
    re-exports
  14. Iran$1.1 billion · 1.4%
  15. Vietnam$1 billion · 1.3%
  16. Bangladesh$896 million · 1.1%
  17. Algeria$705 million · 0.88%
  18. South Korea$693 million · 0.86%
  19. Russia$604 million · 0.75%
  20. Pakistan$550 million · 0.69%

Trend

Who sells it

Brazil has been the top exporter since 2017

Value in USD billions. The five largest exporters in 2024.

  • Brazil 44.4
  • United States 23.2
  • Paraguay 3.3
  • Canada 2.4
  • Argentina 2

Source: CEPII BACI

Show the numbers
Country19952024
Brazil0.9244.4
United States623.2
Paraguay0.293.3
Canada0.272.4
Argentina0.642

Price

Implied price

The price per tonne rose 85% since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $468

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$252
1996$304
1997$331
1998$270
1999$215
2000$227
2001$216
2002$211
2003$250
2004$326
2005$270
2006$252
2007$328
2008$490
2009$429
2010$430
2011$527
2012$566
2013$562
2014$542
2015$411
2016$406
2017$396
2018$411
2019$370
2020$379
2021$506
2022$618
2023$558
2024$468

What it includes

  • 1201 · Soybeans

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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