2023
Exports
$128BWorld Rnk 7 / 219
Flag Rnk 1 / 96
2023
PRODUCT COMPLEXITY IN Mineral fuels, mineral oils and products of their distillation
0.38Rnk 423 / 1025
2023
Imports
$42.3BWorld Rnk 18 / 226
Flag Rnk 2 / 96
2023
ECONOMIC COMPLEXITY of Australia
-0.28Rnk 75 / 132

About

Exports In 2023, Australia exported $128B in Mineral fuels, mineral oils and products of their distillation, making it the 7th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 1st most exported product in Australia. The main destination of Mineral fuels, mineral oils and products of their distillation exports from Australia are: Japan ($43.8B), China ($22B), India ($14.3B), Chinese Taipei ($13.1B), and South Korea ($8.46B).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of Australia between 2022 and 2023 were China ($3.58B), Germany ($1.75B), and Spain ($145M).

Imports In 2023, Australia imported $42.3B in Mineral fuels, mineral oils and products of their distillation, becoming the 18th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 2nd most imported product in Australia. Australia imports Mineral fuels, mineral oils and products of their distillation primarily from: South Korea ($11.1B), Singapore ($8.4B), Malaysia ($8.01B), Chinese Taipei ($2.71B), and China ($2.18B).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for Australia between 2022 and 2023 were Malaysia ($1.73B), South Korea ($1.05B), and China ($345M).

COMPANIES In 2023, leading companies such as Lawrence Wholesale (1) were at the forefront of shipping Mineral fuels, mineral oils and products of their distillation from Australia to the United States.

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 Mineral fuels, mineral oils and products of their distillation. 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)$128B
IMPORTS (2023)$42.3B
NET TRADE (2023)$85.7B

In 2023, Australia exported $128B in Mineral fuels, mineral oils and products of their distillation. The main destinations of Australia exports on Mineral fuels, mineral oils and products of their distillation were Japan ($43.8B), China ($22B), India ($14.3B), Chinese Taipei ($13.1B), and South Korea ($8.46B).

In 2023, Australia imported $42.3B in Mineral fuels, mineral oils and products of their distillation, mainly from South Korea ($11.1B), Singapore ($8.4B), Malaysia ($8.01B), Chinese Taipei ($2.71B), and China ($2.18B).

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Export Destinations (NaN)

Import Origins (NaN)

Market Growth

Flow
THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR Australia WERE (2022 - 2023):
China$3.58B (19.4%)
Germany$1.75B (341%)
Spain$145M (32.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY Australia WERE (2022 - 2023):
South Korea-$19.5B (-69.7%)
Japan-$18.4B (-29.6%)
Chinese Taipei-$6.33B (-32.5%)

Change in Exports by Market (undefined - undefined)

Market Concentration

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In 2023, Australia's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:
In 2023, Australia's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Trade Value of Mineral fuels, mineral oils and products of their distillation by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $1.41B
TOP IMPORT POTENTIALIndia+ $913M

Mineral fuels, mineral oils and products of their distillation’s highest export potential is China. With an export gap of $1.41B.   Mineral fuels, mineral oils and products of their distillation’s highest import potential is India with an import gap of $913M.

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