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2022
Exports $701MWorld Rnk 1 / 175
Flag Rnk 317 / 1217
2022
Destination $77.2M Mexico
2021 - 2022
FASTEST GROWING MARKET $77.2MMexico
2022
PRODUCT COMPLEXITY IN Soups and Broths-0.5Rnk 704 / 1025
2022
Imports $398MWorld Rnk 1 / 223
Flag Rnk 606 / 1216
2022
Origin $19.8M Canada
2021 - 2022
FASTEST GROWING ORIGIN $19.8MMexico
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $701M in Soups and Broths, making it the 1st largest exporter of Soups and Broths in the world. At the same year, Soups and Broths was the 317th most exported product in United States. The main destination of Soups and Broths exports from United States are: Mexico ($326M), Canada ($272M), El Salvador ($10.1M), Jamaica ($9.26M), and Nicaragua ($7.97M).

The fastest growing export markets for Soups and Broths of United States between 2021 and 2022 were Mexico ($77.2M), Canada ($22.8M), and Venezuela ($3.25M).

Imports In 2022, United States imported $398M in Soups and Broths, becoming the 1st largest importer of Soups and Broths in the world. At the same year, Soups and Broths was the 606th most imported product in United States. United States imports Soups and Broths primarily from: Canada ($185M), Mexico ($64.8M), Chile ($23.6M), Japan ($22.2M), and South Korea ($16.8M).

The fastest growing import markets in Soups and Broths for United States between 2021 and 2022 were Mexico ($19.8M), Canada ($12M), and Vietnam ($5.72M).

COMPANIES In 2023, leading companies such as Continental Materials (49), Walmart (38), and Fred Meyer (22) were at the forefront of shipping Soups and Broths to the United States.

Latest Trends

June 2024

About

Overview In June 2024 United States' Soups and Broths exports accounted up to $76.2M and imports accounted up to $53.2M, resulting in a positive trade balance of $23M. Between June 2023 and June 2024 the exports of United States'   Soups and Broths have increased by $10M (15.2%) from $66.2M to $76.2M, while imports increased by $4.57M (9.39%) from $48.6M to $53.2M.

Destinations In June 2024, Soups and Broths were exported mostly to Mexico ($46M), Canada ($22.4M), Chile ($1.29M), Nicaragua ($1.29M), and Jamaica ($939k), and were imported mostly from Canada ($15.7M), Mexico ($9.03M), South Korea ($5.76M), China ($4.33M), and Vietnam ($3.65M).

Growth In June 2024, the increase in Soups and Broths's year-by-year exports was explained primarily by an increase in exports to Mexico ($12.2M or 51.7%), Canada ($6.82M or 31.4%), and Argentina ($632k or 857%). In June 2024, the increase in Soups and Broths's year-by-year imports was explained primarily by an increase in imports from Mexico ($3.29M or 52.7%), Vietnam ($2.77M or 631%), and China ($1.28M or 51.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$10M(15.2%)
IMPORT GROWTH (June 2023 - June 2024)$4.57M(9.39%)
MAIN EXPORTER (June 2024)California$45.1M
MAIN DESTINATION (June 2024)Mexico$46M

This section shows Soups and Broths's exports and imports data at subnational level for United States. 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 Soups and Broths over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$701M
IMPORTS (2022)$398M
NET TRADE (2022)$303M

In 2022, United States exported $701M in Soups and Broths. The main destinations of United States exports on Soups and Broths were Mexico ($326M), Canada ($272M), El Salvador ($10.1M), Jamaica ($9.26M), and Nicaragua ($7.97M).

In 2022, United States imported $398M in Soups and Broths, mainly from Canada ($185M), Mexico ($64.8M), Chile ($23.6M), Japan ($22.2M), and South Korea ($16.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soups and Broths EXPORT MARKETS FOR United States WERE (2021 - 2022):
Mexico$77.2M (31%)
Canada$22.8M (9.13%)
Venezuela$3.25M (356%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soups and Broths BY United States WERE (2021 - 2022):
Saudi Arabia-$6.18M (-97.9%)
Hong Kong-$4.7M (-68.5%)
Belize-$2.14M (-47.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Soups and Broths were:
Germany $209M
Canada $195M
In 2022, United States's main importing competitors in Soups and Broths were:
Mexico $342M
Canada $302M

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Trade Value of Soups and Broths by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $2.74M
TOP IMPORT POTENTIALChina+ $7.36M

Soups and Broths’s highest export potential is Japan. With an export gap of $2.74M.   Soups and Broths’s highest import potential is China with an import gap of $7.36M.

See methodology.

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