Refined Petroleum in United States

EXPORTS (2018): $95.8B, World Rnk 1 / 198
Flag Rnk 1 / 1222

TOP DESTINATION (2018): $28.6B, Mexico

FASTEST GROWING MARKET (2017 - 2018): $7.82B, Mexico

IMPORTS (2018): $56B, World Rnk 1 / 221
Flag Rnk 7 / 1217

TOP ORIGIN (2018): $10.8B, Canada

FASTEST GROWING ORIGIN (2017 - 2018): $1.1B, Netherlands

ECONOMIC COMPLEXITY of United States (2018): 1.57, Rnk 9 / 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 States.

Exports: In 2018, United States exported $95.8B in Refined Petroleum, making it the 1st largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most exported product in United States. The main destination of Refined Petroleum exports from United States are: Mexico ($28.6B), Canada ($11.6B), Brazil ($6.68B), Venezuela ($4.2B), and Chile ($3.86B).

The fastest growing export markets for Refined Petroleum of United States between 2017 and 2018 were Mexico ($7.82B), Canada ($3.46B), and Venezuela ($2.26B).

Imports: In 2018, United States imported $56B in Refined Petroleum, becoming the 1st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most imported product in United States. United States imports Refined Petroleum primarily from: Canada ($10.8B), Russia ($4.17B), South Korea ($3.4B), India ($2.85B), and Netherlands ($2.65B).

The fastest growing import markets in Refined Petroleum for United States between 2017 and 2018 were Netherlands ($1.1B), United Arab Emirates ($953M), and Saudi Arabia ($928M).

Tariffs: In 2017, the average tariff for United States in Refined Petroleum was 4.8%. The countries with the highest import tariffs for Refined Petroleum were Aruba (7.48%), Netherlands Antilles (7.48%), Antigua and Barbuda (7.48%), Bahamas (7.48%), and Saint Kitts and Nevis (7.48%).

Overview: In August 2020 United States' Refined Petroleum exports accounted up to $4.79B and imports accounted up to $2.94B, resulting in a positive trade balance of $1.84B. Between August 2019 and August 2020 the exports of United States'   Refined Petroleum have decreased by $-2.96B (-38.2%) from $7.75B to $4.79B, while imports decreased by $-2.2B (-42.7%) from $5.14B to $2.94B.

Destinations: In August 2020 Refined Petroleum exported mostly to Mexico ($1.48B), Brazil ($654M), Canada ($418M), Chile ($199M), and Peru ($186M), and imported mostly from Russia ($727M), Canada ($499M), South Korea ($242M), India ($196M), and Mexico ($125M).

Growth: In August 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-509M or -25.6%), Canada ($-326M or -43.8%), and Brazil ($-304M or -31.7%). In August 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Canada ($-443M or -47%), Netherlands ($-208M or -63.1%), and Russia ($-145M or -16.7%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (August 2019 - August 2020): $-2.96B, (-38.2%)

IMPORT GROWTH (August 2019 - August 2020): $-2.2B, (-42.7%)

MAIN EXPORTER (August 2020): Texas, $2.83B

MAIN DESTINATION (August 2020): Mexico, $1.48B

This section shows Refined Petroleum'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 Refined Petroleum over time.

Value

EXPORTS (2018): $95.8B

IMPORTS (2018): $56B

NET TRADE (2018): $39.8B

In 2018, United States exported $95.8B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($28.6B), Canada ($11.6B), Brazil ($6.68B), Venezuela ($4.2B), and Chile ($3.86B).

In 2018, United States imported $56B in Refined Petroleum, mainly from Canada ($10.8B), Russia ($4.17B), South Korea ($3.4B), India ($2.85B), and Netherlands ($2.65B).

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

  • Mexico, $27B ($28.6B - $1.56B)
  • Brazil, $5.88B ($6.68B - $802M)
  • Chile, $3.83B ($3.86B - $24.5M)

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

  • Russia, -$4.15B ($17.1M - $4.17B)
  • South Korea, -$2.82B ($579M - $3.4B)
  • India, -$2.5B ($353M - $2.85B)
Flow

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

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

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Market Concentration

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Flow
Type

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

In 2018, United States'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 States. 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 2017, the average tariff for United States in Refined Petroleum was 4.8%.

The countries with the highest tariffs for Refined Petroleum in United States were Aruba (7.48%), Netherlands Antilles (7.48%), Antigua and Barbuda (7.48%), Bahamas (7.48%), and Saint Kitts and Nevis (7.48%).

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