Petroleum Resins in United States 2021 Exports | Imports : $1.15B | $567M, World Rnk 2 / 113 Rnk 224 / 1216 | World Rnk 2 / 198 Rnk 483 / 1215
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $34.6M | $26.8M, Mexico | Austria
2021 ECONOMIC COMPLEXITY of United States: 1.46, Rnk 10 / 131
2021 PRODUCT COMPLEXITY IN Petroleum Resins: 1.49, Rnk 53 / 1029
Exports In 2021, United States exported $1.15B in Petroleum Resins, making it the 2nd largest exporter of Petroleum Resins in the world. At the same year, Petroleum Resins was the 224th most exported product in United States. The main destination of Petroleum Resins exports from United States are: China ($184M), Mexico ($148M), Canada ($120M), Netherlands ($85.1M), and Belgium ($83.5M).
The fastest growing export markets for Petroleum Resins of United States between 2020 and 2021 were Mexico ($34.6M), Belgium ($22.3M), and Canada ($20.5M).
Imports In 2021, United States imported $567M in Petroleum Resins, becoming the 2nd largest importer of Petroleum Resins in the world. At the same year, Petroleum Resins was the 483rd most imported product in United States. United States imports Petroleum Resins primarily from: Germany ($129M), Japan ($86.7M), China ($68.6M), South Korea ($59.8M), and Canada ($43.5M).
The fastest growing import markets in Petroleum Resins for United States between 2020 and 2021 were Austria ($26.8M), Germany ($24.3M), and China ($23M).
Tariffs In 2019, the average tariff for United States in Petroleum Resins was 2.16%. The countries with the highest import tariffs for Petroleum Resins were Burundi (Most Favoured Nation duty rate treatment, 3.06%), Democratic Republic of the Congo (Most Favoured Nation duty rate treatment, 3.06%), Algeria (Most Favoured Nation duty rate treatment, 3.06%), Egypt (Most Favoured Nation duty rate treatment, 3.06%), and Eritrea (Most Favoured Nation duty rate treatment, 3.06%).
February 2023
Overview In February 2023 United States' Petroleum Resins exports accounted up to $95M and imports accounted up to $47.4M, resulting in a positive trade balance of $47.7M. Between February 2022 and February 2023 the exports of United States' Petroleum Resins have decreased by $-25.6M (-21.2%) from $121M to $95M, while imports increased by $931k (2%) from $46.4M to $47.4M.
Destinations In February 2023, Petroleum Resins were exported mostly to Belgium ($17.3M), China ($13.9M), Mexico ($13.8M), Canada ($11.2M), and Netherlands ($8.76M), and were imported mostly from Germany ($12.7M), United Kingdom ($9.36M), Canada ($6.65M), China ($6.47M), and Japan ($3.95M).
Growth In February 2023, the decrease in Petroleum Resins's year-by-year exports was explained primarily by a decrease in exports to Belgium ($-7.06M or -41.5%), France ($-1.99M or -54.9%), and Netherlands ($-1.92M or -27.6%). In February 2023, the increase in Petroleum Resins's year-by-year imports was explained primarily by an increase in imports from China ($7.22M or 229%), Japan ($2.84M or 61.6%), and Canada ($2.26M or 92.9%).
EXPORT GROWTH (February 2022 - February 2023): $-25.6M, (-21.2%)
IMPORT GROWTH (February 2022 - February 2023): $931k, (2%)
MAIN EXPORTER (February 2023): Ohio, $22M
MAIN DESTINATION (February 2023): Belgium, $17.3M
This section shows Petroleum Resins'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 Petroleum Resins over time.
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EXPORTS (2021): $1.15B
IMPORTS (2021): $567M
NET TRADE (2021): $580M
In 2021, United States exported $1.15B in Petroleum Resins. The main destinations of United States exports on Petroleum Resins were China ($184M), Mexico ($148M), Canada ($120M), Netherlands ($85.1M), and Belgium ($83.5M).
In 2021, United States imported $567M in Petroleum Resins, mainly from Germany ($129M), Japan ($86.7M), China ($68.6M), South Korea ($59.8M), and Canada ($43.5M).
THE FASTEST GROWING Petroleum Resins EXPORT MARKETS FOR United States WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Petroleum Resins BY United States WERE (2020 - 2021):
In 2021, United States's main exporting competitors in Petroleum Resins were:
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