2023
Exports
$532MWorld Rnk 48 / 150
Flag Rnk 6 / 451
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$55.5MWorld Rnk 77 / 159
Flag Rnk 17 / 1030
2023
ECONOMIC COMPLEXITY of Papua New Guinea
-1.63Rnk 127 / 132

About

Exports In 2023, Papua New Guinea exported $532M in Crude Petroleum, making it the 48th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 6th most exported product in Papua New Guinea. The main destination of Crude Petroleum exports from Papua New Guinea are: China ($281M), Thailand ($119M), Singapore ($109M), Brunei ($23.1M), and Belgium ($26).

The fastest growing export markets for Crude Petroleum of Papua New Guinea between 2022 and 2023 were Singapore ($42M) and Thailand ($22.9M).

Imports In 2023, Papua New Guinea imported $55.5M in Crude Petroleum, becoming the 77th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 17th most imported product in Papua New Guinea. Papua New Guinea imports Crude Petroleum primarily from: Malaysia ($55.5M), Australia ($4.8k), United Arab Emirates ($203), and Singapore ($40).

The fastest growing import markets in Crude Petroleum for Papua New Guinea between 2022 and 2023 were Malaysia ($55.5M), Australia ($4.8k), and United Arab Emirates ($203).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$532M
IMPORTS (2023)$55.5M
NET TRADE (2023)$477M

In 2023, Papua New Guinea exported $532M in Crude Petroleum. The main destinations of Papua New Guinea exports on Crude Petroleum were China ($281M), Thailand ($119M), Singapore ($109M), Brunei ($23.1M), and Belgium ($26).

In 2023, Papua New Guinea imported $55.5M in Crude Petroleum, mainly from Malaysia ($55.5M), Australia ($4.8k), United Arab Emirates ($203), and Singapore ($40).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Papua New Guinea WERE (2022 - 2023):
Singapore$42M (62.4%)
Thailand$22.9M (23.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Papua New Guinea WERE (2022 - 2023):
Brunei-$346M (-93.8%)
Malaysia-$86.2M (-100%)
China-$71.6M (-20.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Papua New Guinea's main exporting competitors in Crude Petroleum were:
In 2023, Papua New Guinea's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $378M
TOP IMPORT POTENTIALUnited States+ $3.04M

Crude Petroleum’s highest export potential is China. With an export gap of $378M.   Crude Petroleum’s highest import potential is United States with an import gap of $3.04M.

See methodology.

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