Refined Petroleum in Canada | The Observatory of Economic Complexity

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Exports In 2022, Canada exported $17.2B 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 ($15.5B), Peru ($423M), Panama ($191M), Netherlands ($162M), and Bahamas ($158M).

The fastest growing export markets for Refined Petroleum of Canada between 2021 and 2022 were United States ($5.07B), Peru ($268M), and Panama ($151M).

Imports In 2022, Canada imported $19.8B in Refined Petroleum, becoming the 16th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Canada. Canada imports Refined Petroleum primarily from: United States ($15.7B), Netherlands ($1.89B), United Kingdom ($571M), Kuwait ($267M), and India ($166M).

The fastest growing import markets in Refined Petroleum for Canada between 2021 and 2022 were United States ($5.31B), Netherlands ($851M), and United Kingdom ($344M).

COMPANIES In 2023, leading companies such as CELEBRITY CRUISES INC. (2) were at the forefront of shipping Refined Petroleum from Canada to the United States.

Latest Trends

January 2024

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Overview In January 2024 Canada's Refined Petroleum exports accounted up to C$2.01B and imports accounted up to C$1.71B, resulting in a positive trade balance of C$302M. Between January 2023 and January 2024 the exports of Canada's Refined Petroleum have decreased by C$-8.21M (-0.41%) from C$2.02B to C$2.01B, while imports decreased by C$-78.2M (-4.38%) from C$1.78B to C$1.71B.

Destinations In January 2024, Refined Petroleum were exported mostly to United States (C$1.59B), Finland (C$89.6M), Panama (C$82.7M), Saint Kitts, Nevis and Anguilla (C$80.9M), and Bahamas (C$55.9M), and were imported mostly from United States (C$1.48B), India (C$76.7M), United Arab Emirates (C$42M), South Korea (C$33.9M), and Belgium (C$19.2M).

Growth In January 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Mexico (C$-70.4M or -98.7%), France (C$-4.15M or -99.7%), and Netherlands (C$-2.75M or -24.1%). In January 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Belgium (C$-34.8M or -54%), United Kingdom (C$-7.01M or -97.2%), and India (C$-193k or -69.6%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)C$-8.21M(-0.41%)

IMPORT GROWTH (January 2023 - January 2024)C$-78.2M(-4.38%)

MAIN EXPORTER (January 2024)New BrunswickC$854M

MAIN DESTINATION (January 2024)United StatesC$1.59B

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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