2023
Exports
$2.69BWorld Rnk 44 / 214
Flag Rnk 4 / 1213
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$3.31BWorld Rnk 65 / 226
Flag Rnk 4 / 1211
2023
ECONOMIC COMPLEXITY of Portugal
0.57Rnk 42 / 132

About

Exports In 2023, Portugal exported $2.69B in Refined Petroleum, making it the 44th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Portugal. The main destination of Refined Petroleum exports from Portugal are: United States ($1.07B), Spain ($314M), Netherlands ($309M), Gibraltar ($307M), and Cape Verde ($129M).

The fastest growing export markets for Refined Petroleum of Portugal between 2022 and 2023 were Singapore ($73.7M), Turkey ($48.1M), and Morocco ($43.4M).

Imports In 2023, Portugal imported $3.31B in Refined Petroleum, becoming the 65th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in Portugal. Portugal imports Refined Petroleum primarily from: Spain ($1.48B), Saudi Arabia ($364M), Netherlands ($254M), China ($234M), and India ($204M).

The fastest growing import markets in Refined Petroleum for Portugal between 2022 and 2023 were China ($174M), United Arab Emirates ($101M), and India ($92.2M).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (1) were at the forefront of shipping Refined Petroleum from Portugal to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Refined Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.69B
IMPORTS (2023)$3.31B
NET TRADE (2023)-$621M

In 2023, Portugal exported $2.69B in Refined Petroleum. The main destinations of Portugal exports on Refined Petroleum were United States ($1.07B), Spain ($314M), Netherlands ($309M), Gibraltar ($307M), and Cape Verde ($129M).

In 2023, Portugal imported $3.31B in Refined Petroleum, mainly from Spain ($1.48B), Saudi Arabia ($364M), Netherlands ($254M), China ($234M), and India ($204M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Portugal WERE (2022 - 2023):
Singapore$73.7M (1.59k%)
Turkey$48.1M (557k%)
Morocco$43.4M (160%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Portugal WERE (2022 - 2023):
Gibraltar-$230M (-42.8%)
United Kingdom-$157M (-98.3%)
United States-$120M (-10.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Portugal's main exporting competitors in Refined Petroleum were:
In 2023, Portugal's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $165M
TOP IMPORT POTENTIALRussia+ $142M

Refined Petroleum’s highest export potential is United States. With an export gap of $165M.   Refined Petroleum’s highest import potential is Russia with an import gap of $142M.

See methodology.

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