Refined Petroleum in United Kingdom 2020 Exports | Imports : $7.41B | $10.5B, World Rnk 15 / 212 Rnk 8 / 1216 | World Rnk 12 / 224 Rnk 9 / 1213
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $96.9M | $47.7M, Morocco | Republic of the Congo
2020 ECONOMIC COMPLEXITY of United Kingdom: 1.42, Rnk 13 / 127
2020 PRODUCT COMPLEXITY IN Refined Petroleum: -0.94, Rnk 822 / 1029
Exports In 2020, United Kingdom exported $7.41B in Refined Petroleum, making it the 15th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 8th most exported product in United Kingdom. The main destination of Refined Petroleum exports from United Kingdom are: Netherlands ($2.04B), Ireland ($1.36B), United States ($914M), Belgium ($766M), and Nigeria ($392M).
The fastest growing export markets for Refined Petroleum of United Kingdom between 2019 and 2020 were Morocco ($96.9M), Trinidad and Tobago ($48M), and Canada ($40.3M).
Imports In 2020, United Kingdom imported $10.5B in Refined Petroleum, becoming the 12th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 9th most imported product in United Kingdom. United Kingdom imports Refined Petroleum primarily from: Russia ($1.89B), Netherlands ($1.48B), Saudi Arabia ($808M), Belarus ($701M), and Belgium ($693M).
The fastest growing import markets in Refined Petroleum for United Kingdom between 2019 and 2020 were Republic of the Congo ($47.7M), Malaysia ($39.7M), and Nigeria ($10.2M).
November 2022
Overview In November 2022 United Kingdom's Refined Petroleum exports accounted up to £1.38B and imports accounted up to £2.19B, resulting in a negative trade balance of £815M. Between November 2021 and November 2022 the exports of United Kingdom's Refined Petroleum have increased by £531M (63%) from £844M to £1.38B, while imports increased by £1.03B (88.7%) from £1.16B to £2.19B.
Destinations In November 2022, Refined Petroleum were exported mostly to Netherlands (£451M), Ireland (£373M), United States (£218M), Belgium (£97.3M), and Norway (£42.6M), and were imported mostly from Netherlands (£602M), Belgium (£290M), Saudi Arabia (£280M), United Arab Emirates (£255M), and United States (£182M).
Growth In November 2022, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Morocco (£9.86M or 28.4k%), Singapore (£3.31M or 9.4k%), and Ghana (£2.85M or 4.52k%). In November 2022, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Norway (£13.9M or 272%), Spain (£971k or 55.7%), and Kuwait (£303k or 0.86%).
EXPORT GROWTH (November 2021 - November 2022): £531M, (63%)
IMPORT GROWTH (November 2021 - November 2022): £1.03B, (88.7%)
MAIN EXPORTER (November 2022): Milford, £553M
MAIN DESTINATION (November 2022): Netherlands, £451M
This section shows Refined Petroleum's exports and imports data at subnational level for United Kingdom. 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): $7.41B
IMPORTS (2020): $10.5B
NET TRADE (2020): -$3.13B
In 2020, United Kingdom exported $7.41B in Refined Petroleum. The main destinations of United Kingdom exports on Refined Petroleum were Netherlands ($2.04B), Ireland ($1.36B), United States ($914M), Belgium ($766M), and Nigeria ($392M).
In 2020, United Kingdom imported $10.5B in Refined Petroleum, mainly from Russia ($1.89B), Netherlands ($1.48B), Saudi Arabia ($808M), Belarus ($701M), and Belgium ($693M).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United Kingdom WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United Kingdom WERE (2019 - 2020):
In 2020, United Kingdom's main exporting competitors in Refined Petroleum were:
In 2020, United Kingdom's main importing competitors in Refined Petroleum were:
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