Soybean Meal in Canada | The Observatory of Economic Complexity

About

Exports In 2022, Canada exported $254M in Soybean Meal, making it the 12th largest exporter of Soybean Meal in the world. At the same year, Soybean Meal was the 239th most exported product in Canada. The main destination of Soybean Meal exports from Canada are: United States ($194M), United Kingdom ($35.1M), Ireland ($14M), Spain ($4.69M), and Nepal ($3.98M).

The fastest growing export markets for Soybean Meal of Canada between 2021 and 2022 were United States ($71.4M), United Kingdom ($10.1M), and Ireland ($7.31M).

Imports In 2022, Canada imported $599M in Soybean Meal, becoming the 21st largest importer of Soybean Meal in the world. At the same year, Soybean Meal was the 187th most imported product in Canada. Canada imports Soybean Meal primarily from: United States ($569M), India ($14.2M), Togo ($8.79M), China ($3.44M), and Ethiopia ($1.88M).

The fastest growing import markets in Soybean Meal for Canada between 2021 and 2022 were United States ($70.5M), Togo ($8.79M), and China ($2.77M).

Latest Trends

February 2024

About

Overview In February 2024 Canada's Soybean Meal exports accounted up to C$14.8M and imports accounted up to C$56.7M, resulting in a negative trade balance of C$41.8M. Between February 2023 and February 2024 the exports of Canada's Soybean Meal have decreased by C$-11.7M (-44.2%) from C$26.6M to C$14.8M, while imports increased by C$11.5M (25.5%) from C$45.2M to C$56.7M.

Destinations In February 2024, Soybean Meal were exported mostly to United States (C$14.6M), Japan (C$254k), and France (C$25), and were imported mostly from United States (C$55M), India (C$1.42M), China (C$214k), and Brazil (C$4).

Growth In February 2024, the decrease in Soybean Meal's year-by-year exports was explained primarily by a decrease in exports to France (C$-5 or -8.06%). In February 2024, the increase in Soybean Meal's year-by-year imports was explained primarily by an increase in imports from India (C$50.5k or 2.94%) and Netherlands (C$8.43k or 48.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)C$-11.7M(-44.2%)

IMPORT GROWTH (February 2023 - February 2024)C$11.5M(25.5%)

MAIN EXPORTER (February 2024)QuebecC$8.97M

MAIN DESTINATION (February 2024)United StatesC$14.6M

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

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$254M

IMPORTS (2022)$599M

NET TRADE (2022)-$345M

In 2022, Canada exported $254M in Soybean Meal. The main destinations of Canada exports on Soybean Meal were United States ($194M), United Kingdom ($35.1M), Ireland ($14M), Spain ($4.69M), and Nepal ($3.98M).

In 2022, Canada imported $599M in Soybean Meal, mainly from United States ($569M), India ($14.2M), Togo ($8.79M), China ($3.44M), and Ethiopia ($1.88M).

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