Crude Petroleum in United States

2019
Exports | Imports
: $61.9B | $123B, World Rnk 5 / 135
Flag Rnk 2 / 1217 | World Rnk 2 / 156
Flag Rnk 2 / 1215

2019
Destination | Origin
: $9.82B | $65.4B, Canada | Canada

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $3.69B | $2.09B, South Korea |  Canada

2019
ECONOMIC COMPLEXITY of United States
: 1.64, Rnk 9 / 157

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).

Overview: In January 2021 United States' Crude Petroleum exports accounted up to $4.68B and imports accounted up to $7.26B, resulting in a negative trade balance of $2.58B. Between January 2020 and January 2021 the exports of United States'   Crude Petroleum have decreased by $-1.56B (-25%) from $6.24B to $4.68B, while imports decreased by $-3.11B (-30%) from $10.4B to $7.26B.

Destinations: In January 2021 Crude Petroleum exported mostly to India ($673M), China ($585M), Canada ($543M), South Korea ($500M), and United Kingdom ($351M), and imported mostly from Canada ($4.34B), Mexico ($937M), Saudi Arabia ($305M), Colombia ($276M), and Ecuador ($266M).

Growth: In January 2021, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to Canada ($-645M or -54.3%), South Korea ($-584M or -53.9%), and Netherlands ($-341M or -60.2%). In January 2021, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Canada ($-1.39B or -24.2%), Saudi Arabia ($-588M or -65.8%), and Colombia ($-355M or -56.2%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $-1.56B, (-25%)

IMPORT GROWTH (January 2020 - January 2021): $-3.11B, (-30%)

MAIN EXPORTER (January 2021): Texas, $4.06B

MAIN DESTINATION (January 2021): India, $673M

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.

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).

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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):

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Market Concentration

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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:

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Tariffs by Country

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

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