EXPORTS (2018): $95.8B, World Rnk 1 / 198
Rnk 1 / 1222
TOP DESTINATION (2018): $28.6B, Mexico
FASTEST GROWING MARKET (2017 - 2018): $7.82B, Mexico
IMPORTS (2018): $56B, World Rnk 1 / 221 Rnk 7 / 1217
TOP ORIGIN (2018): $10.8B, Canada
FASTEST GROWING ORIGIN (2017 - 2018): $1.1B, Netherlands
ECONOMIC COMPLEXITY of United States (2018): 1.57, Rnk 9 / 137
PRODUCT COMPLEXITY IN Refined Petroleum (2018): -0.97, Rnk 812 / 1018
Exports: In 2018, United States exported $95.8B in Refined Petroleum, making it the 1st largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most exported product in United States. The main destination of Refined Petroleum exports from United States are: Mexico ($28.6B), Canada ($11.6B), Brazil ($6.68B), Venezuela ($4.2B), and Chile ($3.86B).
The fastest growing export markets for Refined Petroleum of United States between 2017 and 2018 were Mexico ($7.82B), Canada ($3.46B), and Venezuela ($2.26B).
Imports: In 2018, United States imported $56B in Refined Petroleum, becoming the 1st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most imported product in United States. United States imports Refined Petroleum primarily from: Canada ($10.8B), Russia ($4.17B), South Korea ($3.4B), India ($2.85B), and Netherlands ($2.65B).
The fastest growing import markets in Refined Petroleum for United States between 2017 and 2018 were Netherlands ($1.1B), United Arab Emirates ($953M), and Saudi Arabia ($928M).
Tariffs: In 2017, the average tariff for United States in Refined Petroleum was 4.8%. The countries with the highest import tariffs for Refined Petroleum were Aruba (7.48%), Netherlands Antilles (7.48%), Antigua and Barbuda (7.48%), Bahamas (7.48%), and Saint Kitts and Nevis (7.48%).
Overview: In October 2020 United States' Refined Petroleum exports accounted up to $4.64B and imports accounted up to $2.84B, resulting in a positive trade balance of $1.8B. Between October 2019 and October 2020 the exports of United States' Refined Petroleum have decreased by $-2.51B (-35.1%) from $7.15B to $4.64B, while imports decreased by $-2.15B (-43.1%) from $4.99B to $2.84B.
Destinations: In October 2020 Refined Petroleum exported mostly to Mexico ($1.42B), Brazil ($504M), Canada ($457M), Peru ($218M), and Colombia ($182M), and imported mostly from Russia ($697M), Canada ($491M), South Korea ($199M), Mexico ($124M), and Singapore ($116M).
Growth: In October 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-881M or -38.3%), Canada ($-583M or -56.1%), and Brazil ($-265M or -34.5%). In October 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Canada ($-534M or -52.1%), Russia ($-333M or -32.3%), and South Korea ($-297M or -59.8%).
EXPORT GROWTH (October 2019 - October 2020): $-2.51B, (-35.1%)
IMPORT GROWTH (October 2019 - October 2020): $-2.15B, (-43.1%)
MAIN EXPORTER (October 2020): Texas, $3.04B
MAIN DESTINATION (October 2020): Mexico, $1.42B
This section shows Refined Petroleum's exports and imports data at subnational level for United States. 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.
EXPORTS (2018): $95.8B
IMPORTS (2018): $56B
NET TRADE (2018): $39.8B
In 2018, United States exported $95.8B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($28.6B), Canada ($11.6B), Brazil ($6.68B), Venezuela ($4.2B), and Chile ($3.86B).
In 2018, United States imported $56B in Refined Petroleum, mainly from Canada ($10.8B), Russia ($4.17B), South Korea ($3.4B), India ($2.85B), and Netherlands ($2.65B).
IN 2018, United States HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:
IN 2018, United States HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United States WERE (2017 - 2018):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United States WERE (2017 - 2018):
In 2018, United States's main exporting competitors in Refined Petroleum were:
In 2018, United States's main importing competitors in Refined Petroleum were:
This section shows forecasts for total exports and imports, for Refined Petroleum in United States. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.
In 2017, the average tariff for United States in Refined Petroleum was 4.8%.
The countries with the highest tariffs for Refined Petroleum in United States were Aruba (7.48%), Netherlands Antilles (7.48%), Antigua and Barbuda (7.48%), Bahamas (7.48%), and Saint Kitts and Nevis (7.48%).
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