Crude Petroleum in United States 2019 Exports | Imports : $61.9B | $123B, World Rnk 5 / 135 Rnk 2 / 1217 | World Rnk 2 / 156 Rnk 2 / 1215
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $3.69B | $2.09B, South Korea | Canada
2019 ECONOMIC COMPLEXITY of United States: 1.59, Rnk 9 / 147
2019 PRODUCT COMPLEXITY IN Crude Petroleum: -3.02, Rnk 1029 / 1029
Exports In 2019, United States exported $61.9B in Crude Petroleum, making it the 5th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most exported product in United States. The main destination of Crude Petroleum exports from United States are: Canada ($9.82B), South Korea ($8.81B), Netherlands ($5.36B), India ($5.36B), and United Kingdom ($5.14B).
The fastest growing export markets for Crude Petroleum of United States between 2018 and 2019 were South Korea ($3.69B), Netherlands ($2.57B), and India ($1.99B).
Imports In 2019, United States imported $123B in Crude Petroleum, becoming the 2nd largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most imported product in United States. United States imports Crude Petroleum primarily from: Canada ($65.4B), Mexico ($11.2B), Saudi Arabia ($10.1B), Iraq ($6.19B), and Colombia ($4.91B).
The fastest growing import markets in Crude Petroleum for United States between 2018 and 2019 were Canada ($2.09B), Russia ($1.26B), and Trinidad and Tobago ($624M).
July 2021
Overview In July 2021 United States' Crude Petroleum exports accounted up to $5.69B and imports accounted up to $12.4B, resulting in a negative trade balance of $6.7B. Between July 2020 and July 2021 the exports of United States' Crude Petroleum have increased by $1.6B (39.3%) from $4.08B to $5.69B, while imports increased by $6.67B (117%) from $5.71B to $12.4B.
Destinations In July 2021, Crude Petroleum were exported mostly to South Korea ($1.08B), India ($834M), Canada ($679M), Netherlands ($644M), and United Kingdom ($373M), and were imported mostly from Canada ($6.6B), Mexico ($1.41B), Saudi Arabia ($807M), Russia ($693M), and Iraq ($412M).
Growth In July 2021, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to South Korea ($676M or 165%), India ($598M or 254%), and Netherlands ($246M or 61.9%). In July 2021, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Canada ($3.3B or 100%), Mexico ($679M or 92.8%), and Russia ($611M or 741%).
EXPORT GROWTH (July 2020 - July 2021): $1.6B, (39.3%)
IMPORT GROWTH (July 2020 - July 2021): $6.67B, (117%)
MAIN EXPORTER (July 2021): Texas, $5.3B
MAIN DESTINATION (July 2021): South Korea, $1.08B
This section shows Crude Petroleum's exports and imports data at subnational level for United States. 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 (2019): $61.9B
IMPORTS (2019): $123B
NET TRADE (2019): -$60.6B
In 2019, United States exported $61.9B in Crude Petroleum. The main destinations of United States exports on Crude Petroleum were Canada ($9.82B), South Korea ($8.81B), Netherlands ($5.36B), India ($5.36B), and United Kingdom ($5.14B).
In 2019, United States imported $123B in Crude Petroleum, mainly from Canada ($65.4B), Mexico ($11.2B), Saudi Arabia ($10.1B), Iraq ($6.19B), and Colombia ($4.91B).
IN 2019, United States HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:
IN 2019, United States HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United States WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United States WERE (2018 - 2019):
In 2019, United States's main exporting competitors in Crude Petroleum were:
In 2019, United States's main importing competitors in Crude Petroleum were:
In 2017, the tariffs for Crude Petroleum in the imports of United States were of 0% around the world.