Refined Petroleum in China 2021 Exports | Imports : $30.5B | $22.4B, World Rnk 9 / 218 Rnk 17 / 1215 | World Rnk 7 / 226 Rnk 14 / 1214
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $1.36B | $1.85B, Pakistan | Qatar
2021 ECONOMIC COMPLEXITY of China: 1.07, Rnk 25 / 131
2021 PRODUCT COMPLEXITY IN Refined Petroleum: -0.92, Rnk 817 / 1029
Exports In 2021, China exported $30.5B in Refined Petroleum, making it the 9th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 17th most exported product in China. The main destination of Refined Petroleum exports from China are: Singapore ($5.29B), Hong Kong ($4.08B), Philippines ($3.28B), Liberia ($1.91B), and Panama ($1.59B).
The fastest growing export markets for Refined Petroleum of China between 2020 and 2021 were Pakistan ($1.36B), South Korea ($848M), and Philippines ($848M).
Imports In 2021, China imported $22.4B in Refined Petroleum, becoming the 7th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 14th most imported product in China. China imports Refined Petroleum primarily from: South Korea ($5.92B), Russia ($3.91B), Qatar ($2.23B), Singapore ($1.89B), and Malaysia ($1.72B).
The fastest growing import markets in Refined Petroleum for China between 2020 and 2021 were Qatar ($1.85B), Russia ($1.73B), and Singapore ($506M).
Tariffs In 2018, the average tariff for China in Refined Petroleum was 6.26%. The countries with the highest import tariffs for Refined Petroleum were Pakistan (Most Favoured Nation duty rate treatment, 8.14%), Benin (Most Favoured Nation duty rate treatment, 7.67%), Timor-Leste (Most Favoured Nation duty rate treatment, 7.67%), Peru (Most Favoured Nation duty rate treatment, 7.57%), and Bangladesh (Most Favoured Nation duty rate treatment, 6.89%).
April 2023
Overview In April 2023 China's Refined Petroleum exports accounted up to $2.81B and imports accounted up to $2.57B, resulting in a positive trade balance of $244M. Between April 2022 and April 2023 the exports of China's Refined Petroleum have decreased by $-821M (-22.6%) from $3.63B to $2.81B, while imports increased by $1.26B (96.7%) from $1.31B to $2.57B.
Destinations In April 2023, Refined Petroleum were exported mostly to Hong Kong ($645M), Singapore ($615M), Philippines ($253M), Panama ($147M), and Liberia ($142M), and were imported mostly from Malaysia ($680M), Russia ($602M), South Korea ($262M), Qatar ($194M), and United Arab Emirates ($161M).
Growth In April 2023, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Philippines ($-193M or -77.3%), Malaysia ($-142M or -64.2%), and Australia ($-93.5M or -93.9%). In April 2023, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Russia ($246M or 1.57k%), South Korea ($173M or 103%), and United Arab Emirates ($120M or 1.37k%).
EXPORT GROWTH (April 2022 - April 2023): $-821M, (-22.6%)
IMPORT GROWTH (April 2022 - April 2023): $1.26B, (96.7%)
MAIN EXPORTER (April 2023): Beijing, $1.7B
MAIN DESTINATION (April 2023): Hong Kong, $645M
This section shows Refined Petroleum's exports and imports data at subnational level for China. 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 (2021): $30.5B
IMPORTS (2021): $22.4B
NET TRADE (2021): $8.13B
In 2021, China exported $30.5B in Refined Petroleum. The main destinations of China exports on Refined Petroleum were Singapore ($5.29B), Hong Kong ($4.08B), Philippines ($3.28B), Liberia ($1.91B), and Panama ($1.59B).
In 2021, China imported $22.4B in Refined Petroleum, mainly from South Korea ($5.92B), Russia ($3.91B), Qatar ($2.23B), Singapore ($1.89B), and Malaysia ($1.72B).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR China WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY China WERE (2020 - 2021):
In 2021, China's main exporting competitors in Refined Petroleum were:
In 2021, China's main importing competitors in Refined Petroleum were:
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