Refined Petroleum in Canada

EXPORTS (2018): $12.3B, World Rnk 16 / 198
Flag Rnk 4 / 1201

TOP DESTINATION (2018): $10.8B, United States

FASTEST GROWING MARKET (2017 - 2018): $925M, United States

IMPORTS (2018): $15.8B, World Rnk 15 / 221
Flag Rnk 2 / 1212

TOP ORIGIN (2018): $11.6B, United States

FASTEST GROWING ORIGIN (2017 - 2018): $3.46B, United States

ECONOMIC COMPLEXITY of Canada (2018): 0.98, Rnk 25 / 137

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

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

Exports: In 2018, Canada exported $12.3B in Refined Petroleum, making it the 16th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Canada. The main destination of Refined Petroleum exports from Canada are: United States ($10.8B), Netherlands ($566M), Bahamas ($277M), United Kingdom ($88.1M), and Iceland ($69.7M).

The fastest growing export markets for Refined Petroleum of Canada between 2017 and 2018 were United States ($925M), Netherlands ($267M), and Bahamas ($174M).

Imports: In 2018, Canada imported $15.8B in Refined Petroleum, becoming the 15th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Canada. Canada imports Refined Petroleum primarily from: United States ($11.6B), Netherlands ($1.59B), United Kingdom ($396M), Belgium-Luxembourg ($313M), and Norway ($206M).

The fastest growing import markets in Refined Petroleum for Canada between 2017 and 2018 were United States ($3.46B), Netherlands ($296M), and Japan ($78.8M).

Tariffs: In 2018, the average tariff for Canada in Refined Petroleum was 0.5%. The countries with the highest import tariffs for Refined Petroleum were Botswana (1.25%), Algeria (1.25%), Western Sahara (1.25%), Gabon (1.25%), and Equatorial Guinea (1.25%).

Overview: In April 2020 Canada's Refined Petroleum exports accounted up to C$1.05B and imports accounted up to C$1.65B, resulting in a negative trade balance of C$594M. Between April 2019 and April 2020 the exports of Canada's   Refined Petroleum have decreased by C$-1.25B (-54.3%) from C$2.3B to C$1.05B, while imports decreased by C$-1.08B (-39.6%) from C$2.73B to C$1.65B.

Destinations: In April 2020 Refined Petroleum exported mostly to United States (C$1B), Mexico (C$16.1M), Uruguay (C$14.6M), Peru (C$6.21M), and Bahamas (C$4.5M), and imported mostly from United States (C$1.55B), Netherlands (C$35.3M), India (C$20.9M), Spain (C$20.8M), and France (C$8.88M).

Growth: In April 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to United States (C$-1.19B or -54.4%), Netherlands (C$-30.9M or -91%), and Belgium (C$-28.5M or -99.8%). In April 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from United States (C$-566M or -26.8%), Netherlands (C$-210M or -85.6%), and South Korea (C$-75.9M or -100%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (April 2019 - April 2020): C$-1.25B, (-54.3%)

IMPORT GROWTH (April 2019 - April 2020): C$-1.08B, (-39.6%)

MAIN EXPORTER (April 2020): New Brunswick, C$412M

MAIN DESTINATION (April 2020): United States, C$1B

This section shows Refined Petroleum's exports and imports data at subnational level for Canada. 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): $12.3B

IMPORTS (2018): $15.8B

NET TRADE (2018): -$3.52B

In 2018, Canada exported $12.3B in Refined Petroleum. The main destinations of Canada exports on Refined Petroleum were United States ($10.8B), Netherlands ($566M), Bahamas ($277M), United Kingdom ($88.1M), and Iceland ($69.7M).

In 2018, Canada imported $15.8B in Refined Petroleum, mainly from United States ($11.6B), Netherlands ($1.59B), United Kingdom ($396M), Belgium-Luxembourg ($313M), and Norway ($206M).

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

  • Bahamas, $277M ($277M - $0)
  • Iceland, $68.7M ($69.7M - $927k)
  • Romania, $47.8M ($47.8M - $4.03k)

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

  • Netherlands, -$1.02B ($566M - $1.59B)
  • United States, -$785M ($10.8B - $11.6B)
  • United Kingdom, -$308M ($88.1M - $396M)
Flow

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

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Canada WERE (2017 - 2018):

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Market Concentration

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Flow
Type

In 2018, Canada's main exporting competitors in Refined Petroleum were:

In 2018, Canada'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 Canada. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the average tariff for Canada in Refined Petroleum was 0.5%.

The countries with the highest tariffs for Refined Petroleum in Canada were Botswana (1.25%), Algeria (1.25%), Western Sahara (1.25%), Gabon (1.25%), and Equatorial Guinea (1.25%).

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