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2023
Exports $107BWorld Rnk 4 / 150
Flag Rnk 1 / 1212
2023
Destination $1.28B United States
2022 - 2023
FASTEST GROWING MARKET $1.28BChina
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $15.7BWorld Rnk 16 / 159
Flag Rnk 5 / 1211
2023
Origin $798M United States
2022 - 2023
FASTEST GROWING ORIGIN $798MNigeria
2023
ECONOMIC COMPLEXITY of Canada0.9Rnk 30 / 132

About

Exports In 2023, Canada exported $107B in Crude Petroleum, making it the 4th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Canada. The main destination of Crude Petroleum exports from Canada are: United States ($97.1B), China ($3.95B), Netherlands ($1.22B), Spain ($1.2B), and India ($1.18B).

The fastest growing export markets for Crude Petroleum of Canada between 2022 and 2023 were China ($1.28B), India ($1.06B), and Netherlands ($920M).

Imports In 2023, Canada imported $15.7B in Crude Petroleum, becoming the 16th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 5th most imported product in Canada. Canada imports Crude Petroleum primarily from: United States ($10.3B), Nigeria ($1.89B), Saudi Arabia ($1.53B), Ghana ($813M), and Angola ($713M).

The fastest growing import markets in Crude Petroleum for Canada between 2022 and 2023 were Nigeria ($798M), Angola ($674M), and United Kingdom ($29.3M).

Latest Trends

November 2024

About

Overview In November 2024 Canada's Crude Petroleum exports accounted up to C$11.4B and imports accounted up to C$1.7B, resulting in a positive trade balance of C$9.65B. Between November 2023 and November 2024 the exports of Canada's   Crude Petroleum have decreased by C$-1.86B (-14.1%) from C$13.2B to C$11.4B, while imports increased by C$48.4M (2.93%) from C$1.65B to C$1.7B.

Destinations In November 2024, Crude Petroleum were exported mostly to United States (C$10.7B), China (C$362M), Hong Kong (C$108M), Netherlands (C$70.6M), and Germany (C$63.6M), and were imported mostly from United States (C$1.3B), Saudi Arabia (C$200M), Nigeria (C$123M), and Cote d'Ivoire (C$74.2M).

Growth In November 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to . In November 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (C$246M or 27.1%) and Nigeria (C$13.8M or 12.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)C$-1.86B(-14.1%)
IMPORT GROWTH (November 2023 - November 2024)C$48.4M(2.93%)
MAIN EXPORTER (November 2024)AlbertaC$12.4B
MAIN DESTINATION (November 2024)United StatesC$10.7B

This section shows Crude 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 Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$107B
IMPORTS (2023)$15.7B
NET TRADE (2023)$90.9B

In 2023, Canada exported $107B in Crude Petroleum. The main destinations of Canada exports on Crude Petroleum were United States ($97.1B), China ($3.95B), Netherlands ($1.22B), Spain ($1.2B), and India ($1.18B).

In 2023, Canada imported $15.7B in Crude Petroleum, mainly from United States ($10.3B), Nigeria ($1.89B), Saudi Arabia ($1.53B), Ghana ($813M), and Angola ($713M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Canada WERE (2022 - 2023):
China$1.28B (48%)
India$1.06B (946%)
Netherlands$920M (311%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Canada WERE (2022 - 2023):
United States-$20.7B (-17.5%)
South Korea-$105M (-100%)
Portugal-$75.6M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Canada's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Canada's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.7B
TOP IMPORT POTENTIALUnited States+ $1.11B

Crude Petroleum’s highest export potential is China. With an export gap of $2.7B.   Crude Petroleum’s highest import potential is United States with an import gap of $1.11B.

See methodology.

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