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2022
Exports $342MWorld Rnk 13 / 113
Flag Rnk 721 / 4632
falsefalse Canada
2021 - 2022
FASTEST GROWING MARKETfalseNew Zealand
2022
Imports $2.93BWorld Rnk 1 / 191
Flag Rnk 162 / 4573
2021 - 2022
FASTEST GROWING ORIGINfalseN/A
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $342M in Petroleum bitumen, making it the 13th largest exporter of Petroleum bitumen in the world. At the same year, Petroleum bitumen was the 721st most exported product in United States. The main destination of Petroleum bitumen exports from United States are: Canada ($80.4M), New Zealand ($47.4M), Mexico ($46.8M), Costa Rica ($29.6M), and Argentina ($21.7M).

The fastest growing export markets for Petroleum bitumen of United States between 2021 and 2022 were New Zealand ($22.4M), Canada ($12.9M), and Panama ($10.4M).

Imports In 2022, United States imported $2.93B in Petroleum bitumen, becoming the 1st largest importer of Petroleum bitumen in the world. At the same year, Petroleum bitumen was the 162nd most imported product in United States. United States imports Petroleum bitumen primarily from: Canada ($2.68B), Colombia ($79.4M), Turkey ($72.9M), Spain ($25.3M), and United Arab Emirates ($17.3M).

COMPANIES In 2023, leading companies such as IKEA Group (135k), CrimsonLogic (98.6k), and Dole Fresh Fruit (62.1k) were at the forefront of shipping Petroleum bitumen to the United States.

Latest Trends

June 2024

About

Overview In June 2024 United States' Petroleum bitumen exports accounted up to $48.8M and imports accounted up to $215M, resulting in a negative trade balance of $167M. Between June 2023 and June 2024 the exports of United States'   Petroleum bitumen have increased by $28.9M (145%) from $20M to $48.8M, while imports increased by $12.9M (6.35%) from $203M to $215M.

Destinations In June 2024, Petroleum bitumen were exported mostly to Canada ($14M), Mexico ($14M), Switzerland ($5.59M), Dominican Republic ($4.73M), and Chile ($3.53M), and were imported mostly from N/A.

Growth In June 2024, the increase in Petroleum bitumen's year-by-year exports was explained primarily by an increase in exports to Canada ($406k or 9.43%), Germany ($207k or 330%), and China ($145k or 706%). In June 2024, the increase in Petroleum bitumen's year-by-year imports was explained primarily by an increase in imports from Canada ($56.1M or 48.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$28.9M(145%)
IMPORT GROWTH (June 2023 - June 2024)$12.9M(6.35%)
MAIN EXPORTER (June 2024)Louisiana$29.3M
MAIN DESTINATION (June 2024)Canada$14M

This section shows Petroleum bitumen'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 Petroleum bitumen over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$342M
IMPORTS (2022)$2.93B
NET TRADE (2022)-$2.59B

In 2022, United States exported $342M in Petroleum bitumen. The main destinations of United States exports on Petroleum bitumen were Canada ($80.4M), New Zealand ($47.4M), Mexico ($46.8M), Costa Rica ($29.6M), and Argentina ($21.7M).

In 2022, United States imported $2.93B in Petroleum bitumen, mainly from Canada ($2.68B), Colombia ($79.4M), Turkey ($72.9M), Spain ($25.3M), and United Arab Emirates ($17.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Petroleum bitumen EXPORT MARKETS FOR United States WERE (2021 - 2022):
New Zealand$22.4M (89.5%)
Canada$12.9M (19.1%)
Panama$10.4M (134%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Petroleum bitumen BY United States WERE (2021 - 2022):
Mexico-$41.8M (-47.2%)
Honduras-$12.3M (-85.5%)
Saudi Arabia-$4.6M (-100%)
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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 Petroleum bitumen were:
Canada $2.71B
Singapore $1.53B
South Korea $1.09B
In 2022, United States's main importing competitors in Petroleum bitumen were:
China $1.41B
India $921M

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Trade Value of Petroleum bitumen by Exporters

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