NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Exports $257MWorld Rnk 56 / 150
Flag Rnk 701 / 1215
2023
Destination $139M South Korea
2022 - 2023
FASTEST GROWING MARKET $139MSouth Korea
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $319BWorld Rnk 1 / 159
Flag Rnk 1 / 1214
2023
Origin $4.58B Russia
2022 - 2023
FASTEST GROWING ORIGIN $4.58BMalaysia
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $257M in Crude Petroleum, making it the 56th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 701st most exported product in China. The main destination of Crude Petroleum exports from China are: South Korea ($168M), Malaysia ($72.9M), Singapore ($15.7M), Paraguay ($11.2k), and Costa Rica ($7.66k).

The fastest growing export markets for Crude Petroleum of China between 2022 and 2023 were South Korea ($139M), Paraguay ($11k), and Guatemala ($3.28k).

Imports In 2023, China imported $319B in Crude Petroleum, becoming the 1st largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in China. China imports Crude Petroleum primarily from: Russia ($60.7B), Saudi Arabia ($53.9B), Iraq ($35.2B), United Arab Emirates ($25.6B), and Oman ($25B).

The fastest growing import markets in Crude Petroleum for China between 2022 and 2023 were Malaysia ($4.58B), United States ($4.45B), and Brazil ($3.13B).

Latest Trends

December 2024

About

Overview In December 2024 China's Crude Petroleum exports accounted up to $209M and imports accounted up to $25.4B, resulting in a negative trade balance of $25.2B. Between August 2023 and December 2024 the exports of China's   Crude Petroleum have increased by $69.2M (49.3%) from $140M to $209M, while imports decreased by $-3.92B (-13.3%) from $29.3B to $25.4B.

Destinations In December 2024, Crude Petroleum were exported mostly to Malaysia ($132M), Indonesia ($43.9M), and Singapore ($33.9M), and were imported mostly from Russia ($4.96B), Malaysia ($3.54B), Saudi Arabia ($3.45B), Iraq ($2.45B), and Oman ($2.28B).

Growth In December 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to . In December 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Saudi Arabia ($-1.02B or -20.5%), United Kingdom ($-525M or -86.5%), and United Arab Emirates ($-398M or -17.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - December 2024)$69.2M(49.3%)
IMPORT GROWTH (December 2023 - December 2024)$-3.92B(-13.3%)
MAIN EXPORTER (December 2024)Liaoning Province$344M
MAIN DESTINATION (December 2024)Malaysia$132M

This section shows Crude Petroleum's exports and imports data at subnational level for China. 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.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Trade Balance

Color
EXPORTS (2023)$257M
IMPORTS (2023)$319B
NET TRADE (2023)-$319B

In 2023, China exported $257M in Crude Petroleum. The main destinations of China exports on Crude Petroleum were South Korea ($168M), Malaysia ($72.9M), Singapore ($15.7M), Paraguay ($11.2k), and Costa Rica ($7.66k).

In 2023, China imported $319B in Crude Petroleum, mainly from Russia ($60.7B), Saudi Arabia ($53.9B), Iraq ($35.2B), United Arab Emirates ($25.6B), and Oman ($25B).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR China WERE (2022 - 2023):
South Korea$139M (471%)
Paraguay$11k (8.48k%)
Guatemala$3.28k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY China WERE (2022 - 2023):
Burma-$295M (-100%)
United States-$92.2M (-100%)
Malaysia-$48.3M (-39.8%)
Explore Visualizations

Change in Exports by Market (2022 - 2023)

Market Concentration

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

Explore Visualizations

Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $166M
TOP IMPORT POTENTIALRussia+ $13.1B

Crude Petroleum’s highest export potential is United States. With an export gap of $166M.   Crude Petroleum’s highest import potential is Russia with an import gap of $13.1B.

See methodology.

Subscribe today to OEC pro and access the latest data

Sign Up

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms