Soybean Oil in Spain | The Observatory of Economic Complexity

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Exports In 2022, Spain exported $573M in Soybean Oil, making it the 6th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 161st most exported product in Spain. The main destination of Soybean Oil exports from Spain are: Morocco ($359M), Algeria ($77.4M), Italy ($30.8M), France ($18.2M), and United Kingdom ($16.5M).

The fastest growing export markets for Soybean Oil of Spain between 2021 and 2022 were Morocco ($29.2M), Italy ($17.7M), and Tunisia ($11.3M).

Imports In 2022, Spain imported $357M in Soybean Oil, becoming the 10th largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 240th most imported product in Spain. Spain imports Soybean Oil primarily from: Argentina ($88.1M), Portugal ($67.3M), Italy ($66.5M), France ($55.9M), and Netherlands ($22.3M).

The fastest growing import markets in Soybean Oil for Spain between 2021 and 2022 were France ($21.9M), Portugal ($19.4M), and Italy ($19.4M).

Latest Trends

February 2024

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Overview In February 2024 Spain's Soybean Oil exports accounted up to €18.9M and imports accounted up to €16.8M, resulting in a positive trade balance of €2.14M. Between February 2023 and February 2024 the exports of Spain's Soybean Oil have decreased by €-16.9M (-47.1%) from €35.8M to €18.9M, while imports increased by €12.7M (307%) from €4.13M to €16.8M.

Destinations In February 2024, Soybean Oil were exported mostly to Netherlands (€14.6M), United Kingdom (€2.42M), France (€455k), United States (€393k), and Portugal (€379k), and were imported mostly from France (€7.41M), Netherlands (€6.82M), Portugal (€1.56M), Italy (€752k), and Belgium (€180k).

Growth In February 2024, the decrease in Soybean Oil's year-by-year exports was explained primarily by a decrease in exports to Portugal (€-568k or -68%), United States (€-34k or -93.6%), and Ireland (€-27k or -11%). In February 2024, the increase in Soybean Oil's year-by-year imports was explained primarily by an increase in imports from Netherlands (€141k or 83.5%), France (€92.7k or 31.8%), and Belgium (€14.1k or 10.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)€-16.9M(-47.1%)

IMPORT GROWTH (February 2023 - February 2024)€12.7M(307%)

MAIN EXPORTER (February 2024)Tarragona€14.6M

MAIN DESTINATION (February 2024)Netherlands€14.6M

This section shows Soybean Oil's exports and imports data at subnational level for Spain. 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 Soybean Oil over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$573M

IMPORTS (2022)$357M

NET TRADE (2022)$216M

In 2022, Spain exported $573M in Soybean Oil. The main destinations of Spain exports on Soybean Oil were Morocco ($359M), Algeria ($77.4M), Italy ($30.8M), France ($18.2M), and United Kingdom ($16.5M).

In 2022, Spain imported $357M in Soybean Oil, mainly from Argentina ($88.1M), Portugal ($67.3M), Italy ($66.5M), France ($55.9M), and Netherlands ($22.3M).

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