Refined Petroleum in China 2020 Exports | Imports : $23.9B | $16.2B, World Rnk 6 / 212 Rnk 17 / 1215 | World Rnk 5 / 224 Rnk 15 / 1214
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $413M | $255M, Liberia | Malaysia
2020 ECONOMIC COMPLEXITY of China: 0.96, Rnk 28 / 127
2020 PRODUCT COMPLEXITY IN Refined Petroleum: -0.94, Rnk 822 / 1029
Exports In 2020, China exported $23.9B in Refined Petroleum, making it the 6th 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 ($4.88B), Hong Kong ($3.46B), Philippines ($2.4B), Australia ($1.46B), and Malaysia ($1.41B).
The fastest growing export markets for Refined Petroleum of China between 2019 and 2020 were Liberia ($413M), Chile ($158M), and Pakistan ($141M).
Imports In 2020, China imported $16.2B in Refined Petroleum, becoming the 5th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 15th most imported product in China. China imports Refined Petroleum primarily from: South Korea ($5.62B), Russia ($2.18B), Malaysia ($1.61B), Singapore ($1.39B), and India ($1.1B).
The fastest growing import markets in Refined Petroleum for China between 2019 and 2020 were Malaysia ($255M), Australia ($95.9M), and Egypt ($79.6M).
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 treatement, 8.14%), Benin (Most Favoured Nation duty rate treatement, 7.67%), Timor-Leste (Most Favoured Nation duty rate treatement, 7.67%), Peru (Most Favoured Nation duty rate treatement, 7.57%), and Bangladesh (Most Favoured Nation duty rate treatement, 6.89%).
October 2022
Overview In October 2022 China's Refined Petroleum exports accounted up to $3.85B and imports accounted up to $1.6B, resulting in a positive trade balance of $2.25B. Between October 2021 and October 2022 the exports of China's Refined Petroleum have increased by $1.39B (56.8%) from $2.45B to $3.85B, while imports increased by $171M (12%) from $1.43B to $1.6B.
Destinations In October 2022, Refined Petroleum were exported mostly to Singapore ($820M), Netherlands ($650M), Hong Kong ($534M), Bangladesh ($180M), and Panama ($172M), and were imported mostly from Russia ($407M), United Arab Emirates ($283M), South Korea ($279M), Singapore ($98.8M), and Malaysia ($89.5M).
Growth In October 2022, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Malaysia ($176M or 393%), Liberia ($55.5M or 92.6%), and Pakistan ($54.3M or 30k%). In October 2022, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from India ($50.4M or 14.3k%), Greece ($38.7M or 2.24M%), and Italy ($8.72M or 1.49k%).
EXPORT GROWTH (October 2021 - October 2022): $1.39B, (56.8%)
IMPORT GROWTH (October 2021 - October 2022): $171M, (12%)
MAIN EXPORTER (October 2022): Beijing, $2.18B
MAIN DESTINATION (October 2022): Singapore, $820M
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 (2020): $23.9B
IMPORTS (2020): $16.2B
NET TRADE (2020): $7.74B
In 2020, China exported $23.9B in Refined Petroleum. The main destinations of China exports on Refined Petroleum were Singapore ($4.88B), Hong Kong ($3.46B), Philippines ($2.4B), Australia ($1.46B), and Malaysia ($1.41B).
In 2020, China imported $16.2B in Refined Petroleum, mainly from South Korea ($5.62B), Russia ($2.18B), Malaysia ($1.61B), Singapore ($1.39B), and India ($1.1B).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR China WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY China WERE (2019 - 2020):
In 2020, China's main exporting competitors in Refined Petroleum were:
In 2020, China's main importing competitors in Refined Petroleum were:
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