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2022
Exports | Imports $1.11B | $287BWorld Rnk 39 / 149
Flag Rnk 410 / 1216
World Rnk 1 / 158
Flag Rnk 1 / 1212
2021 - 2022
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN $163M | $17.6BBurma |  Saudi Arabia
2022
ECONOMIC COMPLEXITY of China1.01Rnk 24 / 124

About

The fastest growing export markets for Crude Petroleum of China between 2021 and 2022 were Burma ($163M), United States ($92.2M), and Malaysia ($47M).

Imports In 2022, China imported $287B 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: Saudi Arabia ($56.1B), Russia ($51B), Iraq ($33.8B), Oman ($25.2B), and Angola ($21.5B).

The fastest growing import markets in Crude Petroleum for China between 2021 and 2022 were Saudi Arabia ($17.6B), Russia ($15.6B), and Iraq ($10.6B).

Latest Trends

December 2023

About

Overview In December 2023 China's Crude Petroleum exports accounted up to $49.7M and imports accounted up to $25.7B, resulting in a negative trade balance of $25.6B. Between August 2022 and December 2023 the exports of China's   Crude Petroleum have decreased by $-301M (-85.8%) from $351M to $49.7M, while imports increased by $1.89B (7.96%) from $23.8B to $25.7B.

Destinations In December 2023, Crude Petroleum were exported mostly to N/A, and were imported mostly from Russia ($5.13B), Saudi Arabia ($4.23B), Iraq ($2.88B), Malaysia ($2.61B), and United Arab Emirates ($2.08B).

Growth In December 2023, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to . In February 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Malaysia ($385M or 53.4%), Qatar ($326M or 104%), and Saudi Arabia ($312M or 6.68%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2022 - December 2023)$-301M(-85.8%)
IMPORT GROWTH (February 2023 - February 2024)$1.89B(7.96%)
MAIN EXPORTER (December 2023)

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.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.11B
IMPORTS (2022)$287B
NET TRADE (2022)-$286B

In 2022, China imported $287B in Crude Petroleum, mainly from Saudi Arabia ($56.1B), Russia ($51B), Iraq ($33.8B), Oman ($25.2B), and Angola ($21.5B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR China WERE (2021 - 2022):
Burma$163M (124%)
United States$92.2M (1%)
Malaysia$47M (13.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY China WERE (2021 - 2022):
Singapore-$70.6M (-37.8%)
India-$70.5M (-100%)
South Korea-$49.9M (-21.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type

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Trade Value of Crude Petroleum by Exporters

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