HS Icon Crude Petroleum in  Flag United States

2019
Exports | Imports
: $61.9B | $123B, World Rnk 5 / 135
Flag Rnk 2 / 1217 | World Rnk 2 / 156
Flag 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).

Latest Trends (May 2021)

#permalink to section

Overview: In May 2021 United States' Crude Petroleum exports accounted up to $5.16B and imports accounted up to $10.5B, resulting in a negative trade balance of $5.3B. Between May 2020 and May 2021 the exports of United States'   Crude Petroleum have increased by $2.66B (106%) from $2.5B to $5.16B, while imports increased by $6.52B (166%) from $3.93B to $10.5B.

Destinations: In May 2021, Crude Petroleum were exported mostly to India ($723M), China ($687M), Canada ($547M), South Korea ($478M), and United Kingdom ($450M), and were imported mostly from Canada ($5.72B), Mexico ($1.08B), Russia ($567M), Saudi Arabia ($508M), and Ecuador ($384M).

Growth: In May 2021, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to India ($587M or 433%), Canada ($325M or 146%), and United Kingdom ($310M or 222%). In May 2021, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Canada ($4.1B or 253%), Mexico ($605M or 126%), and Russia ($558M or 5.89k%).

Subnational Monthly Trade

#permalink to section
Time Scale
Flow
Value

EXPORT GROWTH (May 2020 - May 2021): $2.66B, (106%)

IMPORT GROWTH (May 2020 - May 2021): $6.52B, (166%)

MAIN EXPORTER (May 2021): Texas, $4.69B

MAIN DESTINATION (May 2021): India, $723M

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.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Historical Data

#permalink to section
Value

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).

Explore Visualizations

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:

Flow

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):

Explore Visualizations

Market Concentration

#permalink to section
Flow
Type

In 2018, United States's main exporting competitors in Crude Petroleum were:

In 2018, United States's main importing competitors in Crude Petroleum were:

Explore Visualizations

Tariffs by Country

#permalink to section

In 2017, the tariffs for Crude Petroleum in the imports of United States were of 0% around the world.