HS Icon Refined Petroleum in  Flag Canada

2019
Exports | Imports
: $12.3B | $13B, World Rnk 16 / 214
Flag Rnk 4 / 1208 | World Rnk 14 / 225
Flag Rnk 5 / 1213

2018 - 2019
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $320M | $95.4M, United States |  Norway

2019
ECONOMIC COMPLEXITY of Canada
: 0.96, Rnk 31 / 147

2019
PRODUCT COMPLEXITY  IN Refined Petroleum
: -0.87, Rnk 800 / 1029

Exports: In 2019, Canada exported $12.3B in Refined Petroleum, making it the 16th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Canada. The main destination of Refined Petroleum exports from Canada are: United States ($11.1B), Netherlands ($380M), Bahamas ($164M), United Kingdom ($92.8M), and Ireland ($92.3M).

The fastest growing export markets for Refined Petroleum of Canada between 2018 and 2019 were United States ($320M), Panama ($75.6M), and Ireland ($59.4M).

Imports: In 2019, Canada imported $13B in Refined Petroleum, becoming the 14th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in Canada. Canada imports Refined Petroleum primarily from: United States ($9.62B), Netherlands ($1.49B), Norway ($301M), Belgium ($262M), and South Korea ($155M).

The fastest growing import markets in Refined Petroleum for Canada between 2018 and 2019 were Norway ($95.4M), Lithuania ($66.8M), and China ($48.4M).

Tariffs: In 2018, the average tariff for Canada in Refined Petroleum was 0.5%. The countries with the highest import tariffs for Refined Petroleum were Botswana (Most Favoured Nation duty rate treatement, 1.25%), Algeria (Most Favoured Nation duty rate treatement, 1.25%), Western Sahara (Most Favoured Nation duty rate treatement, 1.25%), Gabon (Most Favoured Nation duty rate treatement, 1.25%), and Equatorial Guinea (Most Favoured Nation duty rate treatement, 1.25%).

Latest Trends (May 2021)

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Overview: In May 2021 Canada's Refined Petroleum exports accounted up to C$981M and imports accounted up to C$1.22B, resulting in a negative trade balance of C$241M. Between May 2020 and May 2021 the exports of Canada's   Refined Petroleum have increased by C$397M (68.1%) from C$584M to C$981M, while imports increased by C$840M (220%) from C$382M to C$1.22B.

Destinations: In May 2021, Refined Petroleum were exported mostly to United States (C$959M), Netherlands (C$11.7M), China (C$2.86M), Russia (C$1.38M), and Germany (C$638k), and were imported mostly from United States (C$970M), Netherlands (C$72.1M), Russia (C$52.2M), Belgium (C$32.4M), and Denmark (C$25.9M).

Growth: In May 2021, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to United States (C$434M or 82.8%), China (C$1.04M or 57.2%), and Germany (C$556k or 682%). In May 2021, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (C$623M or 179%), Netherlands (C$65.8M or 1.05k%), and Russia (C$44.8M or 602%).

Subnational Monthly Trade

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Time Scale
Flow
Value

EXPORT GROWTH (May 2020 - May 2021): C$397M, (68.1%)

IMPORT GROWTH (May 2020 - May 2021): C$840M, (220%)

MAIN EXPORTER (May 2021): New Brunswick, C$595M

MAIN DESTINATION (May 2021): United States, C$959M

This section shows Refined Petroleum's exports and imports data at subnational level for Canada. 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 Refined Petroleum over time.

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Historical Data

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Value

EXPORTS (2019): $12.3B

IMPORTS (2019): $13B

NET TRADE (2019): -$755M

In 2019, Canada exported $12.3B in Refined Petroleum. The main destinations of Canada exports on Refined Petroleum were United States ($11.1B), Netherlands ($380M), Bahamas ($164M), United Kingdom ($92.8M), and Ireland ($92.3M).

In 2019, Canada imported $13B in Refined Petroleum, mainly from United States ($9.62B), Netherlands ($1.49B), Norway ($301M), Belgium ($262M), and South Korea ($155M).

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IN 2019, Canada HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:

IN 2019, Canada HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:

Flow

THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Canada WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Canada WERE (2018 - 2019):

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Market Concentration

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Flow
Type

In 2018, Canada's main exporting competitors in Refined Petroleum were:

In 2018, Canada's main importing competitors in Refined Petroleum were:

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Tariffs by Country

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In 2018, the average tariff for Canada in Refined Petroleum was 0.5%.

The countries with the highest tariffs for Refined Petroleum in Canada were Botswana (Most Favoured Nation duty rate treatement, 1.25%), Algeria (Most Favoured Nation duty rate treatement, 1.25%), Western Sahara (Most Favoured Nation duty rate treatement, 1.25%), Gabon (Most Favoured Nation duty rate treatement, 1.25%), and Equatorial Guinea (Most Favoured Nation duty rate treatement, 1.25%).