Crude Petroleum in United Kingdom 2020 Exports | Imports : $16.2B | $14.8B, World Rnk 14 / 132 Rnk 5 / 1216 | World Rnk 12 / 145 Rnk 5 / 1213
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $484M | $79.4M, South Korea | Iraq
2020 ECONOMIC COMPLEXITY of United Kingdom: 1.42, Rnk 13 / 127
2020 PRODUCT COMPLEXITY IN Crude Petroleum: -2.2, Rnk 1018 / 1029
Exports In 2020, United Kingdom exported $16.2B in Crude Petroleum, making it the 14th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 5th most exported product in United Kingdom. The main destination of Crude Petroleum exports from United Kingdom are: Netherlands ($6.95B), Germany ($2.53B), China ($2.17B), South Korea ($815M), and Sweden ($683M).
The fastest growing export markets for Crude Petroleum of United Kingdom between 2019 and 2020 were South Korea ($484M), Italy ($443M), and Gibraltar ($189M).
Imports In 2020, United Kingdom imported $14.8B in Crude Petroleum, becoming the 12th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 5th most imported product in United Kingdom. United Kingdom imports Crude Petroleum primarily from: Norway ($6.93B), United States ($3.89B), Russia ($1.12B), Nigeria ($1.05B), and Algeria ($467M).
The fastest growing import markets in Crude Petroleum for United Kingdom between 2019 and 2020 were Iraq ($79.4M), Guyana ($51.4M), and Republic of the Congo ($36.5M).
November 2022
Overview In November 2022 United Kingdom's Crude Petroleum exports accounted up to £1.69B and imports accounted up to £2.31B, resulting in a negative trade balance of £625M. Between November 2021 and November 2022 the exports of United Kingdom's Crude Petroleum have increased by £519M (44.5%) from £1.17B to £1.69B, while imports increased by £393M (20.5%) from £1.92B to £2.31B.
Destinations In November 2022, Crude Petroleum were exported mostly to Netherlands (£855M), China (£351M), France (£154M), Germany (£64.8M), and United States (£57.4M), and were imported mostly from Norway (£1.06B), United States (£911M), Libya (£84.9M), Nigeria (£84.4M), and Argentina (£76.1M).
Growth In November 2022, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to . In November 2022, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Libya (£11.7M or 23%).
EXPORT GROWTH (November 2021 - November 2022): £519M, (44.5%)
IMPORT GROWTH (November 2021 - November 2022): £393M, (20.5%)
MAIN EXPORTER (November 2022): Hound Point Terminal, £532M
MAIN DESTINATION (November 2022): Netherlands, £855M
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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EXPORTS (2020): $16.2B
IMPORTS (2020): $14.8B
NET TRADE (2020): $1.48B
In 2020, United Kingdom exported $16.2B in Crude Petroleum. The main destinations of United Kingdom exports on Crude Petroleum were Netherlands ($6.95B), Germany ($2.53B), China ($2.17B), South Korea ($815M), and Sweden ($683M).
In 2020, United Kingdom imported $14.8B in Crude Petroleum, mainly from Norway ($6.93B), United States ($3.89B), Russia ($1.12B), Nigeria ($1.05B), and Algeria ($467M).
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United Kingdom WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United Kingdom WERE (2019 - 2020):
In 2020, United Kingdom's main exporting competitors in Crude Petroleum were:
In 2020, United Kingdom's main importing competitors in Crude Petroleum were:
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