Crude Petroleum in United States 2020 Exports | Imports : $52.3B | $75.1B, World Rnk 3 / 132 Rnk 2 / 1217 | World Rnk 2 / 145 Rnk 5 / 1214
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $3.75B | $578M, China | Guyana
2020 ECONOMIC COMPLEXITY of United States: 1.56, Rnk 9 / 127
2020 PRODUCT COMPLEXITY IN Crude Petroleum: -2.2, Rnk 1018 / 1029
Exports In 2020, United States exported $52.3B in Crude Petroleum, making it the 3rd 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: China ($6.68B), Canada ($6.28B), South Korea ($4.88B), India ($4.12B), and Netherlands ($4.12B).
The fastest growing export markets for Crude Petroleum of United States between 2019 and 2020 were China ($3.75B), Germany ($2.68B), and Italy ($957M).
Imports In 2020, United States imported $75.1B in Crude Petroleum, becoming the 2nd largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 5th most imported product in United States. United States imports Crude Petroleum primarily from: Canada ($45.4B), Mexico ($8.16B), Saudi Arabia ($6.59B), Iraq ($2.82B), and Colombia ($2.67B).
The fastest growing import markets in Crude Petroleum for United States between 2019 and 2020 were Guyana ($578M), Cameroon ($124M), and Sudan ($60.2M).
November 2022
Overview In November 2022 United States' Crude Petroleum exports accounted up to $10.4B and imports accounted up to $14.6B, resulting in a negative trade balance of $4.14B. Between November 2021 and November 2022 the exports of United States' Crude Petroleum have increased by $3.48B (50.1%) from $6.95B to $10.4B, while imports increased by $562M (4.01%) from $14B to $14.6B.
Destinations In November 2022, Crude Petroleum were exported mostly to South Korea ($1.43B), India ($1.41B), Netherlands ($1.05B), Canada ($975M), and Singapore ($865M), and were imported mostly from Canada ($8.06B), Saudi Arabia ($1.31B), Mexico ($1.31B), Iraq ($595M), and Brazil ($551M).
Growth In November 2022, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to India ($229M or 51.7%), Panama ($43.4M or 163%), and Spain ($35M or 29.9%). In November 2022, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Nigeria ($77M or 69.1%), Norway ($43.6M or 3.41k%), and Ghana ($37.2M or 56.1%).
EXPORT GROWTH (November 2021 - November 2022): $3.48B, (50.1%)
IMPORT GROWTH (November 2021 - November 2022): $562M, (4.01%)
MAIN EXPORTER (November 2022): Texas, $9.48B
MAIN DESTINATION (November 2022): South Korea, $1.43B
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 (2020): $52.3B
IMPORTS (2020): $75.1B
NET TRADE (2020): -$22.8B
In 2020, United States exported $52.3B in Crude Petroleum. The main destinations of United States exports on Crude Petroleum were China ($6.68B), Canada ($6.28B), South Korea ($4.88B), India ($4.12B), and Netherlands ($4.12B).
In 2020, United States imported $75.1B in Crude Petroleum, mainly from Canada ($45.4B), Mexico ($8.16B), Saudi Arabia ($6.59B), Iraq ($2.82B), and Colombia ($2.67B).
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United States WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United States WERE (2019 - 2020):
In 2020, United States's main exporting competitors in Crude Petroleum were:
In 2020, United States's main importing competitors in Crude Petroleum were:
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