Refined Petroleum in Canada 2020 Exports | Imports : $7.25B | $8.06B, World Rnk 16 / 212 Rnk 7 / 1208 | World Rnk 15 / 224 Rnk 7 / 1213
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $58.7M | $40.3M, Bonaire | United Kingdom
2020 ECONOMIC COMPLEXITY of Canada: 0.93, Rnk 29 / 127
2020 PRODUCT COMPLEXITY IN Refined Petroleum: -0.94, Rnk 822 / 1029
Exports In 2020, Canada exported $7.25B in Refined Petroleum, making it the 16th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most exported product in Canada. The main destination of Refined Petroleum exports from Canada are: United States ($6.65B), Netherlands ($126M), Bahamas ($75.3M), Bonaire ($58.7M), and Ecuador ($58.1M).
The fastest growing export markets for Refined Petroleum of Canada between 2019 and 2020 were Bonaire ($58.7M), Bermuda ($25.5M), and Singapore ($17.2M).
Imports In 2020, Canada imported $8.06B in Refined Petroleum, becoming the 15th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most imported product in Canada. Canada imports Refined Petroleum primarily from: United States ($6.59B), Netherlands ($637M), United Kingdom ($99.1M), Norway ($88.2M), and Spain ($68.2M).
The fastest growing import markets in Refined Petroleum for Canada between 2019 and 2020 were United Kingdom ($40.3M), Finland ($20.3M), and Portugal ($7.11M).
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%).
December 2022
Overview In December 2022 Canada's Refined Petroleum exports accounted up to C$1.7B and imports accounted up to C$2.28B, resulting in a negative trade balance of C$578M. Between December 2021 and December 2022 the exports of Canada's Refined Petroleum have increased by C$5.24M (0.31%) from C$1.69B to C$1.7B, while imports increased by C$671M (41.8%) from C$1.6B to C$2.28B.
Destinations In December 2022, Refined Petroleum were exported mostly to United States (C$1.59B), Peru (C$47.5M), Bahamas (C$31.8M), Netherlands (C$19.8M), and China (C$1.89M), and were imported mostly from United States (C$1.7B), Kuwait (C$149M), India (C$132M), United Kingdom (C$74.9M), and China (C$54.1M).
Growth In December 2022, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to United States (C$487M or 54.3%), Mexico (C$49.1M or 221%), and France (C$1.79M or 75%). In December 2022, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (C$486M or 69.1%), Belgium (C$25M or 63.2%), and Germany (C$9.2M or 540%).
EXPORT GROWTH (December 2021 - December 2022): C$5.24M, (0.31%)
IMPORT GROWTH (December 2021 - December 2022): C$671M, (41.8%)
MAIN EXPORTER (December 2022): New Brunswick, C$784M
MAIN DESTINATION (December 2022): United States, C$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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EXPORTS (2020): $7.25B
IMPORTS (2020): $8.06B
NET TRADE (2020): -$813M
In 2020, Canada exported $7.25B in Refined Petroleum. The main destinations of Canada exports on Refined Petroleum were United States ($6.65B), Netherlands ($126M), Bahamas ($75.3M), Bonaire ($58.7M), and Ecuador ($58.1M).
In 2020, Canada imported $8.06B in Refined Petroleum, mainly from United States ($6.59B), Netherlands ($637M), United Kingdom ($99.1M), Norway ($88.2M), and Spain ($68.2M).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Canada WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Canada WERE (2019 - 2020):
In 2020, Canada's main exporting competitors in Refined Petroleum were:
In 2020, Canada's main importing competitors in Refined Petroleum were:
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