2021
Exports | Imports
$4.38B | $4.88BWorld Rnk 24 / 147
Flag Rnk 7 / 1210
World Rnk 25 / 163
Flag Rnk 8 / 1206
2021
ECONOMIC COMPLEXITY of Australia
-0.41Rnk 82 / 131
2021
PRODUCT COMPLEXITY IN Crude Petroleum
-2.36Rnk 1013 / 1024

About

Exports In 2021, Australia exported $4.38B in Crude Petroleum, making it the 24th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 7th most exported product in Australia. The main destination of Crude Petroleum exports from Australia are: Singapore ($1.86B), Indonesia ($596M), South Korea ($554M), Malaysia ($458M), and Brunei ($334M).

The fastest growing export markets for Crude Petroleum of Australia between 2020 and 2021 were Singapore ($1.22B), South Korea ($289M), and Indonesia ($225M).

Imports In 2021, Australia imported $4.88B in Crude Petroleum, becoming the 25th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 8th most imported product in Australia. Australia imports Crude Petroleum primarily from: Malaysia ($2B), Brunei ($621M), New Zealand ($355M), Vietnam ($304M), and United States ($302M).

The fastest growing import markets in Crude Petroleum for Australia between 2020 and 2021 were Malaysia ($717M), Brunei ($411M), and Libya ($203M).

Latest Trends

Dec 2023

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2021)$4.38B
IMPORTS (2021)$4.88B
NET TRADE (2021)-$497M

In 2021, Australia exported $4.38B in Crude Petroleum. The main destinations of Australia exports on Crude Petroleum were Singapore ($1.86B), Indonesia ($596M), South Korea ($554M), Malaysia ($458M), and Brunei ($334M).

In 2021, Australia imported $4.88B in Crude Petroleum, mainly from Malaysia ($2B), Brunei ($621M), New Zealand ($355M), Vietnam ($304M), and United States ($302M).

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Export Destinations (2021)

Import Origins (2021)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Australia WERE (2020 - 2021):
Singapore$1.22B (192%)
South Korea$289M (109%)
Indonesia$225M (60.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Australia WERE (2020 - 2021):
China-$234M (-75.7%)
Thailand-$200M (-44.3%)
Papua New Guinea-$73.8M (-100%)

Change in Exports by Market (2020 - 2021)

Market Concentration

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Flow
Type
In 2021, Australia's main exporting competitors in Crude Petroleum were:
In 2021, Australia's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

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