2023
Exports
$1.51BWorld Rnk 56 / 214
Flag Rnk 21 / 1208
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$35.3BWorld Rnk 3 / 226
Flag Rnk 1 / 1207
2023
ECONOMIC COMPLEXITY of Australia
-0.28Rnk 75 / 132

About

Exports In 2023, Australia exported $1.51B in Refined Petroleum, making it the 56th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 21st most exported product in Australia. The main destination of Refined Petroleum exports from Australia are: Singapore ($440M), Malaysia ($395M), Japan ($272M), China ($111M), and Thailand ($46.9M).

The fastest growing export markets for Refined Petroleum of Australia between 2022 and 2023 were Malaysia ($304M), United States ($44.5M), and Thailand ($43.5M).

Imports In 2023, Australia imported $35.3B in Refined Petroleum, becoming the 3rd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Australia. Australia imports Refined Petroleum primarily from: South Korea ($11.1B), Singapore ($8.23B), Malaysia ($5.57B), Chinese Taipei ($2.64B), and China ($1.92B).

The fastest growing import markets in Refined Petroleum for Australia between 2022 and 2023 were Malaysia ($1.83B), South Korea ($1.07B), and China ($502M).

Latest Trends

Jan 2025

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 Refined Petroleum. 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)$1.51B
IMPORTS (2023)$35.3B
NET TRADE (2023)-$33.8B

In 2023, Australia exported $1.51B in Refined Petroleum. The main destinations of Australia exports on Refined Petroleum were Singapore ($440M), Malaysia ($395M), Japan ($272M), China ($111M), and Thailand ($46.9M).

In 2023, Australia imported $35.3B in Refined Petroleum, mainly from South Korea ($11.1B), Singapore ($8.23B), Malaysia ($5.57B), Chinese Taipei ($2.64B), and China ($1.92B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Australia WERE (2022 - 2023):
Malaysia$304M (334%)
United States$44.5M (46.4k%)
Thailand$43.5M (1.29k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Australia WERE (2022 - 2023):
South Korea-$81.3M (-99.6%)
Chinese Taipei-$24.9M (-76.8%)
Saudi Arabia-$24M (-99.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Australia's main exporting competitors in Refined Petroleum were:
In 2023, Australia's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $71.6M
TOP IMPORT POTENTIALIndia+ $910M

Refined Petroleum’s highest export potential is China. With an export gap of $71.6M.   Refined Petroleum’s highest import potential is India with an import gap of $910M.

See methodology.

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