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2022
Exports $26.3BWorld Rnk 16 / 149
Flag Rnk 4 / 1216
2022
Destination $1.52B Netherlands
2021 - 2022
FASTEST GROWING MARKET $1.52BNetherlands
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $38.7BWorld Rnk 10 / 158
Flag Rnk 3 / 1214
2022
Origin $6.14B Norway
2021 - 2022
FASTEST GROWING ORIGIN $6.14BNorway
2022
ECONOMIC COMPLEXITY of United Kingdom1.42Rnk 12 / 133

About

Exports In 2022, United Kingdom exported $26.3B in Crude Petroleum, making it the 16th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 4th most exported product in United Kingdom. The main destination of Crude Petroleum exports from United Kingdom are: Netherlands ($9.89B), Germany ($3.54B), Sweden ($1.94B), France ($1.77B), and Poland ($1.56B).

The fastest growing export markets for Crude Petroleum of United Kingdom between 2021 and 2022 were Netherlands ($1.52B), Germany ($1.51B), and Poland ($1.41B).

Imports In 2022, United Kingdom imported $38.7B in Crude Petroleum, becoming the 10th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 3rd most imported product in United Kingdom. United Kingdom imports Crude Petroleum primarily from: Norway ($18.3B), United States ($11.4B), Libya ($1.39B), Nigeria ($1.33B), and Algeria ($1.15B).

The fastest growing import markets in Crude Petroleum for United Kingdom between 2021 and 2022 were Norway ($6.14B), United States ($5.88B), and Canada ($681M).

Latest Trends

August 2024

About

Overview In August 2024 United Kingdom's Crude Petroleum exports accounted up to £887M and imports accounted up to £2.21B, resulting in a negative trade balance of £1.32B. Between August 2023 and August 2024 the exports of United Kingdom's   Crude Petroleum have decreased by £-217M (-19.7%) from £1.1B to £887M, while imports increased by £38.5M (1.77%) from £2.17B to £2.21B.

Destinations In August 2024, Crude Petroleum were exported mostly to Netherlands (£421M), Germany (£163M), Sweden (£91.1M), Poland (£81M), and Lithuania (£45M), and were imported mostly from Norway (£824M), United States (£710M), Libya (£259M), Nigeria (£198M), and Turkey (£68.6M).

Growth In August 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to China (£-140M or -87.7%). In August 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (£580M or 91.3%), Norway (£154M or 13.9%), and Canada (£80.6M or 97.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)£-217M(-19.7%)
IMPORT GROWTH (August 2023 - August 2024)£38.5M(1.77%)
MAIN EXPORTER (August 2024)Hound Point Terminal£412M
MAIN DESTINATION (August 2024)Netherlands£421M

This section shows Crude Petroleum's exports and imports data at subnational level for United Kingdom. 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)$26.3B
IMPORTS (2022)$38.7B
NET TRADE (2022)-$12.4B

In 2022, United Kingdom exported $26.3B in Crude Petroleum. The main destinations of United Kingdom exports on Crude Petroleum were Netherlands ($9.89B), Germany ($3.54B), Sweden ($1.94B), France ($1.77B), and Poland ($1.56B).

In 2022, United Kingdom imported $38.7B in Crude Petroleum, mainly from Norway ($18.3B), United States ($11.4B), Libya ($1.39B), Nigeria ($1.33B), and Algeria ($1.15B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United Kingdom WERE (2021 - 2022):
Netherlands$1.52B (18.1%)
Germany$1.51B (74.7%)
Poland$1.41B (937%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United Kingdom WERE (2021 - 2022):
China-$1.15B (-42.6%)
South Korea-$381M (-28.2%)
Canada-$296M (-82%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United Kingdom's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, United Kingdom'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+ $1.71B
TOP IMPORT POTENTIALNigeria+ $1.09B

Crude Petroleum’s highest export potential is China. With an export gap of $1.71B.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $1.09B.

See methodology.

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