Crude Petroleum in United Kingdom

EXPORTS (2018): $26.4B, World Rnk 13 / 120
Flag Rnk 2 / 1215

TOP DESTINATION (2018): $9.87B, Netherlands

FASTEST GROWING MARKET (2017 - 2018): $5.45B, Netherlands

IMPORTS (2018): $24.9B, World Rnk 11 / 148
Flag Rnk 3 / 1212

TOP ORIGIN (2018): $12B, Norway

FASTEST GROWING ORIGIN (2017 - 2018): $2.01B, United States

ECONOMIC COMPLEXITY of United Kingdom (2018): 1.49, Rnk 13 / 137

PRODUCT COMPLEXITY  IN Crude Petroleum (2018): -2.84, Rnk 1018 / 1018

Overview: This page contains the latest trade data of Crude Petroleum in United Kingdom.

Exports: In 2018, United Kingdom exported $26.4B in Crude Petroleum, making it the 13th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most exported product in United Kingdom. The main destination of Crude Petroleum exports from United Kingdom are: Netherlands ($9.87B), China ($4.83B), Germany ($2.57B), South Korea ($2.44B), and United States ($1.48B).

The fastest growing export markets for Crude Petroleum of United Kingdom between 2017 and 2018 were Netherlands ($5.45B), China ($1.21B), and United States ($1.02B).

Imports: In 2018, United Kingdom imported $24.9B in Crude Petroleum, becoming the 11th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 3rd most imported product in United Kingdom. United Kingdom imports Crude Petroleum primarily from: Norway ($12B), United States ($3.71B), Nigeria ($3.03B), Algeria ($2.52B), and Canada ($837M).

The fastest growing import markets in Crude Petroleum for United Kingdom between 2017 and 2018 were United States ($2.01B), Nigeria ($1.58B), and Norway ($1.1B).

Overview: In June 2020 United Kingdom's Crude Petroleum exports accounted up to £619M and imports accounted up to £708M, resulting in a negative trade balance of £89.7M. Between June 2019 and June 2020 the exports of United Kingdom's   Crude Petroleum have decreased by £-682M (-52.4%) from £1.3B to £619M, while imports decreased by £-665M (-48.4%) from £1.37B to £708M.

Destinations: In June 2020 Crude Petroleum exported mostly to Netherlands (£190M), South Korea (£145M), Germany (£73.6M), China (£54M), and Italy (£41.3M), and imported mostly from World (£235M), United States (£232M), Russia (£48.4M), Algeria (£34.9M), and Nigeria (£16.4M).

Growth: In June 2020, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to Germany (£-352M or -69.3%), China (£-218M or -85.7%), and United States (£-198M or -88.6%). In June 2020, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from World (£-623M or -72.6%), United States (£-213M or -47.9%), and Algeria (£-182M or -83.9%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (June 2019 - June 2020): £-682M, (-52.4%)

IMPORT GROWTH (June 2019 - June 2020): £-665M, (-48.4%)

MAIN EXPORTER (June 2020): Hound Point Terminal, £127M

MAIN DESTINATION (June 2020): Netherlands, £190M

This section shows Crude Petroleum's exports and imports data at subnational level for United Kingdom. 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 Crude Petroleum over time.

Value

EXPORTS (2018): $26.4B

IMPORTS (2018): $24.9B

NET TRADE (2018): $1.55B

In 2018, United Kingdom exported $26.4B in Crude Petroleum. The main destinations of United Kingdom exports on Crude Petroleum were Netherlands ($9.87B), China ($4.83B), Germany ($2.57B), South Korea ($2.44B), and United States ($1.48B).

In 2018, United Kingdom imported $24.9B in Crude Petroleum, mainly from Norway ($12B), United States ($3.71B), Nigeria ($3.03B), Algeria ($2.52B), and Canada ($837M).

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IN 2018, United Kingdom HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:

  • Netherlands, $9.83B ($9.87B - $43.2M)
  • China, $4.83B ($4.83B - $0)
  • Germany, $2.57B ($2.57B - $0)

IN 2018, United Kingdom HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:

  • Norway, -$11.4B ($594M - $12B)
  • Nigeria, -$3.03B ($19.1k - $3.03B)
  • Algeria, -$2.52B ($0 - $2.52B)
Flow

THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United Kingdom WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United Kingdom WERE (2017 - 2018):

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Market Concentration

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Type

In 2018, United Kingdom's main exporting competitors in Crude Petroleum were:

In 2018, United Kingdom's main importing competitors in Crude Petroleum were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Crude Petroleum in United Kingdom. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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