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2022
Exports $138BWorld Rnk 1 / 214
Flag Rnk 1 / 1217
2022
Destination $13.1B Mexico
2021 - 2022
FASTEST GROWING MARKET $13.1BMexico
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $81.7BWorld Rnk 1 / 225
Flag Rnk 7 / 1216
2022
Origin $5.07B Canada
2021 - 2022
FASTEST GROWING ORIGIN $5.07BCanada
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $138B 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 ($39.4B), Canada ($15.7B), Brazil ($12B), Chile ($10.2B), and Peru ($6.79B).

The fastest growing export markets for Refined Petroleum of United States between 2021 and 2022 were Mexico ($13.1B), Chile ($6.01B), and Canada ($5.31B).

Imports In 2022, United States imported $81.7B 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 ($15.5B), South Korea ($5.93B), Mexico ($5.52B), India ($4.87B), and Russia ($4.73B).

The fastest growing import markets in Refined Petroleum for United States between 2021 and 2022 were Canada ($5.07B), Mexico ($2.64B), and Saudi Arabia ($2.4B).

COMPANIES In 2023, leading companies such as Dole Fresh Fruit (7.46k), TE Connectivity (228), and Disney Cruise Line (86) were at the forefront of shipping Refined Petroleum to the United States.

Latest Trends

September 2024

About

Overview In September 2024 United States' Refined Petroleum exports accounted up to $9.52B and imports accounted up to $4.03B, resulting in a positive trade balance of $5.49B. Between September 2023 and September 2024 the exports of United States'   Refined Petroleum have increased by $47.7M (0.5%) from $9.47B to $9.52B, while imports decreased by $-1.59B (-28.2%) from $5.62B to $4.03B.

Destinations In September 2024, Refined Petroleum were exported mostly to Mexico ($2.55B), Canada ($906M), Netherlands ($600M), Chile ($432M), and Brazil ($400M), and were imported mostly from Canada ($902M), Mexico ($307M), South Korea ($293M), Saudi Arabia ($277M), and Netherlands ($259M).

Growth In September 2024, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Mexico ($897M or 40.6%), Costa Rica ($235M or 207%), and Argentina ($166M or 347%). In September 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Saudi Arabia ($-167M or -50.7%), Qatar ($-106M or -38.2%), and South Korea ($-69.9M or -20.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$47.7M(0.5%)
IMPORT GROWTH (September 2023 - September 2024)$-1.59B(-28.2%)
MAIN EXPORTER (September 2024)Texas$6.27B
MAIN DESTINATION (September 2024)Mexico$2.55B

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.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$138B
IMPORTS (2022)$81.7B
NET TRADE (2022)$56.6B

In 2022, United States exported $138B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($39.4B), Canada ($15.7B), Brazil ($12B), Chile ($10.2B), and Peru ($6.79B).

In 2022, United States imported $81.7B in Refined Petroleum, mainly from Canada ($15.5B), South Korea ($5.93B), Mexico ($5.52B), India ($4.87B), and Russia ($4.73B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United States WERE (2021 - 2022):
Mexico$13.1B (49.7%)
Chile$6.01B (144%)
Canada$5.31B (51.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United States WERE (2021 - 2022):
South Korea-$612M (-45.1%)
Singapore-$456M (-38.3%)
Japan-$442M (-39.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Refined Petroleum were:
India $86.2B
Netherlands $68.1B
In 2022, United States's main importing competitors in Refined Petroleum were:
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 POTENTIALCanada+ $1.7B
TOP IMPORT POTENTIALCanada+ $4.2B

Refined Petroleum’s highest export potential is Canada. With an export gap of $1.7B.   Refined Petroleum’s highest import potential is Canada with an import gap of $4.2B.

See methodology.

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