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2022
Exports $123BWorld Rnk 3 / 149
Flag Rnk 1 / 1210
2022
Destination $37.6B United States
2021 - 2022
FASTEST GROWING MARKET $37.6BUnited States
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $16.8BWorld Rnk 15 / 158
Flag Rnk 5 / 1213
2022
Origin $4.15BN/A
2021 - 2022
FASTEST GROWING ORIGIN $4.15BUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $123B in Crude Petroleum, making it the 3rd 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 ($117B), China ($2.29B), United Kingdom ($1.02B), Spain ($943M), and Germany ($349M).

The fastest growing export markets for Crude Petroleum of Canada between 2021 and 2022 were United States ($37.6B), China ($2.18B), and United Kingdom ($681M).

Imports In 2022, Canada imported $16.8B in Crude Petroleum, becoming the 15th 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: N/A.

The fastest growing import markets in Crude Petroleum for Canada between 2021 and 2022 were United States ($4.15B), Saudi Arabia ($868M), and Angola ($138M).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Crude Petroleum exports accounted up to C$12.4B and imports accounted up to C$1.74B, resulting in a positive trade balance of C$10.6B. Between August 2023 and August 2024 the exports of Canada's   Crude Petroleum have increased by C$16.2M (0.13%) from C$12.4B to C$12.4B, while imports decreased by C$-241M (-12.2%) from C$1.98B to C$1.74B.

Destinations In August 2024, Crude Petroleum were exported mostly to United States (C$11.8B), Netherlands (C$173M), China (C$161M), Hong Kong (C$108M), and Germany (C$74.1M), and were imported mostly from United States (C$1.34B), Saudi Arabia (C$209M), Nigeria (C$115M), Cote d'Ivoire (C$77.2M), and Oman (C$1.09k).

Growth In August 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to United States (C$537M or 5.2%), United Kingdom (C$64M or 78.6%), and Spain (C$2.37M or 3.29%). In August 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Saudi Arabia (C$-15.4M or -7.75%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$16.2M(0.13%)
IMPORT GROWTH (August 2023 - August 2024)C$-241M(-12.2%)
MAIN EXPORTER (August 2024)AlbertaC$12.4B
MAIN DESTINATION (August 2024)United StatesC$11.8B

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 (2022)$123B
IMPORTS (2022)$16.8B
NET TRADE (2022)$106B

In 2022, Canada exported $123B in Crude Petroleum. The main destinations of Canada exports on Crude Petroleum were United States ($117B), China ($2.29B), United Kingdom ($1.02B), Spain ($943M), and Germany ($349M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$37.6B (47.1%)
China$2.18B (1.96k%)
United Kingdom$681M (199%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Canada WERE (2021 - 2022):
Chile-$182M (-100%)
India-$159M (-58.5%)
Ireland-$96.5M (-58.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
In 2022, Canada's main importing competitors in Crude Petroleum were:
China $287B
United States $199B
India $170B

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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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