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2023
Exports $20.3BWorld Rnk 14 / 214
Flag Rnk 3 / 1216
2023
Destination $741M Gibraltar
2022 - 2023
FASTEST GROWING MARKET $741MGibraltar
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $11.3BWorld Rnk 23 / 226
Flag Rnk 5 / 1213
2023
Origin $390M Saudi Arabia
2022 - 2023
FASTEST GROWING ORIGIN $390MIraq
2023
ECONOMIC COMPLEXITY of Italy1.29Rnk 18 / 132

About

Exports In 2023, Italy exported $20.3B in Refined Petroleum, making it the 14th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Italy. The main destination of Refined Petroleum exports from Italy are: Gibraltar ($2.62B), United States ($2.21B), Spain ($1.92B), Croatia ($1.48B), and Libya ($956M).

The fastest growing export markets for Refined Petroleum of Italy between 2022 and 2023 were Gibraltar ($741M), Spain ($533M), and Greece ($198M).

Imports In 2023, Italy imported $11.3B in Refined Petroleum, becoming the 23rd 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 ($2.88B), India ($1.19B), Greece ($1.15B), United Arab Emirates ($714M), and Spain ($578M).

The fastest growing import markets in Refined Petroleum for Italy between 2022 and 2023 were Iraq ($390M), India ($266M), and Greece ($263M).

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

November 2024

About

Overview In November 2024 Italy's Refined Petroleum exports accounted up to €1.15B and imports accounted up to €854M, resulting in a positive trade balance of €293M. Between November 2023 and November 2024 the exports of Italy's   Refined Petroleum have decreased by €-344M (-23.1%) from €1.49B to €1.15B, while imports increased by €153M (21.9%) from €701M to €854M.

Destinations In November 2024, Refined Petroleum were exported mostly to Gibraltar (€278M), Spain (€231M), Libya (€97.8M), Saudi Arabia (€53.8M), and Croatia (€50.7M), and were imported mostly from Saudi Arabia (€149M), Netherlands (€76.2M), Egypt (€75.4M), Oman (€66.6M), and Greece (€63.2M).

Growth In November 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Spain (€-83.6M or -41.7%), Tunisia (€-45.2M or -80.2%), and South Africa (€-35.2M or -54.2%). In November 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 (November 2023 - November 2024)€-344M(-23.1%)
IMPORT GROWTH (November 2023 - November 2024)€153M(21.9%)
MAIN DESTINATION (November 2024)Gibraltar€278M

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 (2023)$20.3B
IMPORTS (2023)$11.3B
NET TRADE (2023)$8.96B

In 2023, Italy exported $20.3B in Refined Petroleum. The main destinations of Italy exports on Refined Petroleum were Gibraltar ($2.62B), United States ($2.21B), Spain ($1.92B), Croatia ($1.48B), and Libya ($956M).

In 2023, Italy imported $11.3B in Refined Petroleum, mainly from Saudi Arabia ($2.88B), India ($1.19B), Greece ($1.15B), United Arab Emirates ($714M), and Spain ($578M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Italy WERE (2022 - 2023):
Gibraltar$741M (39.5%)
Spain$533M (38.5%)
Greece$198M (81.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Italy WERE (2022 - 2023):
France-$875M (-50%)
Turkey-$797M (-64.2%)
Tunisia-$643M (-74.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Italy's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, Italy's main importing competitors in Refined Petroleum were:
United States $68.8B
Singapore $55.7B
Australia $35.3B

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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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