Refined Petroleum in United Kingdom

EXPORTS (2018): $14.5B, World Rnk 13 / 198
Flag Rnk 7 / 1215

TOP DESTINATION (2018): $3.36B, Netherlands

FASTEST GROWING MARKET (2017 - 2018): $544M, Belgium-Luxembourg

IMPORTS (2018): $24.2B, World Rnk 7 / 221
Flag Rnk 4 / 1212

TOP ORIGIN (2018): $3.76B, Netherlands

FASTEST GROWING ORIGIN (2017 - 2018): $1.17B, Russia

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

PRODUCT COMPLEXITY  IN Refined Petroleum (2018): -0.97, Rnk 812 / 1018

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

Exports: In 2018, United Kingdom exported $14.5B in Refined Petroleum, making it the 13th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most exported product in United Kingdom. The main destination of Refined Petroleum exports from United Kingdom are: Netherlands ($3.36B), United States ($2.58B), Belgium-Luxembourg ($2.25B), Ireland ($2.04B), and Nigeria ($787M).

The fastest growing export markets for Refined Petroleum of United Kingdom between 2017 and 2018 were Belgium-Luxembourg ($544M), Ireland ($450M), and Nigeria ($423M).

Imports: In 2018, United Kingdom imported $24.2B in Refined Petroleum, becoming the 7th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in United Kingdom. United Kingdom imports Refined Petroleum primarily from: Netherlands ($3.76B), Russia ($3.22B), Belarus ($2.79B), Belgium-Luxembourg ($1.84B), and Saudi Arabia ($1.6B).

The fastest growing import markets in Refined Petroleum for United Kingdom between 2017 and 2018 were Russia ($1.17B), Saudi Arabia ($979M), and Netherlands ($814M).

Overview: In August 2020 United Kingdom's Refined Petroleum exports accounted up to £378M and imports accounted up to £539M, resulting in a negative trade balance of £161M. Between August 2019 and August 2020 the exports of United Kingdom's   Refined Petroleum have decreased by £-344M (-47.6%) from £722M to £378M, while imports decreased by £-768M (-58.8%) from £1.31B to £539M.

Destinations: In August 2020 Refined Petroleum exported mostly to Netherlands (£111M), Ireland (£64.9M), Belgium (£53.8M), United States (£49.5M), and Nigeria (£27.8M), and imported mostly from Russia (£112M), Belgium (£108M), Netherlands (£80.9M), United States (£33.1M), and Saudi Arabia (£30.3M).

Growth: In August 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Ireland (£-98.8M or -60.3%), Netherlands (£-89.4M or -44.7%), and United States (£-76.7M or -60.8%). In August 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Saudi Arabia (£-133M or -81.5%), Russia (£-123M or -52.4%), and Netherlands (£-95.7M or -54.2%).

Subnational Monthly Trade

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Value

EXPORT GROWTH (August 2019 - August 2020): £-344M, (-47.6%)

IMPORT GROWTH (August 2019 - August 2020): £-768M, (-58.8%)

MAIN EXPORTER (August 2020): Milford, £60.9M

MAIN DESTINATION (August 2020): Netherlands, £111M

This section shows Refined 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 Refined Petroleum over time.

Value

EXPORTS (2018): $14.5B

IMPORTS (2018): $24.2B

NET TRADE (2018): -$9.75B

In 2018, United Kingdom exported $14.5B in Refined Petroleum. The main destinations of United Kingdom exports on Refined Petroleum were Netherlands ($3.36B), United States ($2.58B), Belgium-Luxembourg ($2.25B), Ireland ($2.04B), and Nigeria ($787M).

In 2018, United Kingdom imported $24.2B in Refined Petroleum, mainly from Netherlands ($3.76B), Russia ($3.22B), Belarus ($2.79B), Belgium-Luxembourg ($1.84B), and Saudi Arabia ($1.6B).

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

  • Ireland, $1.65B ($2.04B - $390M)
  • United States, $1.06B ($2.58B - $1.52B)
  • Nigeria, $787M ($787M - $0)

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

  • Russia, -$3.21B ($4.77M - $3.22B)
  • Belarus, -$2.79B ($503k - $2.79B)
  • Saudi Arabia, -$1.46B ($134M - $1.6B)
Flow

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

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined 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 Refined Petroleum were:

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

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Refined 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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