In 2023, China led global soybean imports with a volume of 99.46 million metric tons. The United States experienced a sharp decline in imports, dropping by 32.93%. Overall, Iran, Pakistan, and Lebanon saw significant increases in their imports, with variations of 4.86%, 4.78%, and 4.87%, respectively. On the contrary, Brazil's imports fell by 19.64%. Over the past five years, emerging markets such as the Philippines and India have shown notable increases in import growth, which aligns with their escalating demand for soybeans.
Moving forward, attention should be paid to geopolitical and economic shifts impacting major importers like China. Additionally, the evolution of plant-based diets and biofuel demand might influence the scope and scale of soybeans' global trade, potentially shifting import volumes across different countries.
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 99,460 | 2018 | View data | ||
| 2 | 2 Argentina | 7,380 | 2023 | +6.57% | +2.76% | View data |
| 3 | 3 Mexico | 5,390 | 2023 | +1.72% | +0.79% | View data |
| 4 | 4 Netherlands | 4,770 | 2023 | +2.08% | +1.9% | View data |
| 5 | 5 Egypt | 3,790 | 2023 | +3.44% | +0.85% | View data |
| 6 | 6 Germany | 3,420 | 2023 | -0.35% | -1.39% | View data |
| 7 | 7 Japan | 3,390 | 2023 | +0.86% | +0.9% | View data |
| 8 | 8 Spain | 3,370 | 2023 | -0.15% | -0.22% | View data |
| 9 | 9 Iran | 3,240 | 2023 | +4.88% | +4.86% | View data |
| 10 | 10 Thailand | 3,080 | 2023 | +1.96% | +2.43% | View data |
