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2022
Exports $24.6BWorld Rnk 13 / 214
Flag Rnk 2 / 1217
2022
Destination $1.19B United States
2021 - 2022
FASTEST GROWING MARKET $1.19BSlovenia
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $12.3BWorld Rnk 24 / 225
Flag Rnk 5 / 1215
2022
Origin $1.42B Saudi Arabia
2021 - 2022
FASTEST GROWING ORIGIN $1.42BSaudi Arabia
2022
ECONOMIC COMPLEXITY of Italy1.29Rnk 17 / 133

About

Exports In 2022, Italy exported $24.6B in Refined Petroleum, making it the 13th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Italy. The main destination of Refined Petroleum exports from Italy are: United States ($2.87B), Gibraltar ($1.88B), France ($1.86B), Croatia ($1.61B), and Slovenia ($1.59B).

The fastest growing export markets for Refined Petroleum of Italy between 2021 and 2022 were Slovenia ($1.19B), Croatia ($1.15B), and United States ($1.04B).

Imports In 2022, Italy imported $12.3B in Refined Petroleum, becoming the 24th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in Italy. Italy imports Refined Petroleum primarily from: Saudi Arabia ($3.39B), Russia ($2.03B), Greece ($957M), Spain ($790M), and United Arab Emirates ($646M).

The fastest growing import markets in Refined Petroleum for Italy between 2021 and 2022 were Saudi Arabia ($1.42B), Slovenia ($415M), and Kuwait ($296M).

COMPANIES In 2023, leading companies such as Arhaus (3) were at the forefront of shipping Refined Petroleum from Italy to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Italy's Refined Petroleum exports accounted up to €1.26B and imports accounted up to €1.27B, resulting in a negative trade balance of €3.98M. Between July 2023 and July 2024 the exports of Italy's   Refined Petroleum have increased by €82.4M (6.98%) from €1.18B to €1.26B, while imports increased by €176M (16.2%) from €1.09B to €1.27B.

Destinations In July 2024, Refined Petroleum were exported mostly to Gibraltar (€188M), France (€127M), Spain (€123M), Croatia (€112M), and Libya (€103M), and were imported mostly from Saudi Arabia (€281M), Kuwait (€114M), Spain (€95.1M), China (€77.2M), and South Korea (€74.7M).

Growth In July 2024, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to United States (€159M or 160%), France (€79.8M or 120%), and Turkey (€62.3M or 680%). In July 2024, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Indonesia (€165M or 43.5k%), Russia (€74.7M or 123%), and Bulgaria (€30.4M or 160%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)€82.4M(6.98%)
IMPORT GROWTH (July 2023 - July 2024)€176M(16.2%)
MAIN DESTINATION (July 2024)Gibraltar€188M

This section shows Refined Petroleum's exports and imports data at subnational level for Italy. 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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Historical Data

Trade Balance

Color
EXPORTS (2022)$24.6B
IMPORTS (2022)$12.3B
NET TRADE (2022)$12.3B

In 2022, Italy exported $24.6B in Refined Petroleum. The main destinations of Italy exports on Refined Petroleum were United States ($2.87B), Gibraltar ($1.88B), France ($1.86B), Croatia ($1.61B), and Slovenia ($1.59B).

In 2022, Italy imported $12.3B in Refined Petroleum, mainly from Saudi Arabia ($3.39B), Russia ($2.03B), Greece ($957M), Spain ($790M), and United Arab Emirates ($646M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Italy WERE (2021 - 2022):
Slovenia$1.19B (298%)
Croatia$1.15B (249%)
United States$1.04B (57.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Italy WERE (2021 - 2022):
Nigeria-$263M (-63%)
South Africa-$192M (-44%)
Malta-$160M (-38.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Italy's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Italy's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALFrance+ $932M
TOP IMPORT POTENTIALRussia+ $1.04B

Refined Petroleum’s highest export potential is France. With an export gap of $932M.   Refined Petroleum’s highest import potential is Russia with an import gap of $1.04B.

See methodology.

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