In 2023, Brazil led global soybean exports with a dominant share of over 55%, followed by the United States at approximately 29%. Both countries saw an increase in export volumes with Brazil growing by over 2% and the U.S. by about 0.9%. Other notable performers included Ukraine and Nigeria, which experienced significant growth rates of 3.67% and 15.2%, respectively. Argentina, however, recorded a decline of 1.09%, indicative of its ongoing challenges.
Future trends to watch include the rise of Eastern European countries like Romania, with a 9.52% growth, and continued performance from African nations such as Nigeria and Zambia, showing exceptional increases. Monitoring these emerging players will be essential as they could reshape soybean export dynamics over the coming years.
Top countries in Soybeans Export Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 55.88 | 2023 | +3.08% | +2.03% | View data |
| 2 | 2 United States | 29.34 | 2023 | -0.3% | +0.89% | View data |
| 3 | 3 Paraguay | 3.94 | 2023 | +1.51% | +1.56% | View data |
| 4 | 4 Canada | 3.62 | 2023 | +2.4% | +1.7% | View data |
| 5 | 5 Argentina | 2.03 | 2023 | -8.17% | -1.09% | View data |
| 6 | 6 Ukraine | 1.62 | 2023 | +1.82% | +3.67% | View data |
| 7 | 7 Uruguay | 0.75 | 2023 | -8.69% | -1.8% | View data |
| 8 | 8 Russia | 0.7 | 2023 | +5.69% | +3.69% | View data |
| 9 | 9 Netherlands | 0.66 | 2023 | -0.37% | -0.79% | View data |
| 10 | 10 Belgium | 0.18 | 2023 | +3.77% | +1.81% | View data |
