HS Icon Refined Petroleum in  Flag United States

2020
Exports | Imports
: $58.4B | $31B, World Rnk 1 / 212
Flag Rnk 1 / 1217 | World Rnk 1 / 224
Flag Rnk 10 / 1214

2019 - 2020
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $401M | $167M, Germany |  Malaysia


ECONOMIC COMPLEXITY of United States
: 1.56, Rnk 9 / 127


PRODUCT COMPLEXITY  IN Refined Petroleum
: -0.99, Rnk 835 / 1028

Exports In 2020, United States exported $58.4B 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 ($16.8B), Canada ($6.59B), Brazil ($5.94B), Panama ($2.4B), and Chile ($2.39B).

The fastest growing export markets for Refined Petroleum of United States between 2019 and 2020 were Germany ($401M), Ecuador ($258M), and South Korea ($209M).

Imports In 2020, United States imported $31B in Refined Petroleum, becoming the 1st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 10th most imported product in United States. United States imports Refined Petroleum primarily from: Canada ($6.65B), Russia ($4.62B), South Korea ($2.37B), Netherlands ($1.92B), and India ($1.63B).

The fastest growing import markets in Refined Petroleum for United States between 2019 and 2020 were Malaysia ($167M), Sweden ($118M), and Singapore ($66.8M).

Tariffs In 2019, the average tariff for United States in Refined Petroleum was 5.3%. The countries with the highest import tariffs for Refined Petroleum were Burundi (Most Favoured Nation duty rate treatement, 7.83%), Democratic Republic of the Congo (Most Favoured Nation duty rate treatement, 7.83%), Somalia (Most Favoured Nation duty rate treatement, 7.83%), South Sudan (Most Favoured Nation duty rate treatement, 7.83%), and Afghanistan (Most Favoured Nation duty rate treatement, 7.83%).

January 2022

Subnational Monthly Trade

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Time Scale
Flow
Value

EXPORT GROWTH (January 2021 - January 2022): $2.62B, (49.2%)

IMPORT GROWTH (January 2021 - January 2022): $1.19B, (33.5%)

MAIN EXPORTER (January 2022): Texas, $4.56B

MAIN DESTINATION (January 2022): Mexico, $2.21B

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

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EXPORTS (2020): $58.4B

IMPORTS (2020): $31B

NET TRADE (2020): $27.4B

In 2020, United States exported $58.4B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($16.8B), Canada ($6.59B), Brazil ($5.94B), Panama ($2.4B), and Chile ($2.39B).

In 2020, United States imported $31B in Refined Petroleum, mainly from Canada ($6.65B), Russia ($4.62B), South Korea ($2.37B), Netherlands ($1.92B), and India ($1.63B).

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IN 2020, United States HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:

IN 2020, United States HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:

Flow

THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United States WERE (2019 - 2020):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United States WERE (2019 - 2020):

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Market Concentration

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In 2019, United States's main exporting competitors in Refined Petroleum were:

In 2019, United States's main importing competitors in Refined Petroleum were:

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Tariffs by Country

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In 2019, the average tariff for United States in Refined Petroleum was 5.3%.

The countries with the highest tariffs for Refined Petroleum in United States were Burundi (Most Favoured Nation duty rate treatement, 7.83%), Democratic Republic of the Congo (Most Favoured Nation duty rate treatement, 7.83%), Somalia (Most Favoured Nation duty rate treatement, 7.83%), South Sudan (Most Favoured Nation duty rate treatement, 7.83%), and Afghanistan (Most Favoured Nation duty rate treatement, 7.83%).