Refined Petroleum in United States 2019 Exports | Imports : $84.9B | $54B, World Rnk 1 / 214 Rnk 1 / 1217 | World Rnk 1 / 225 Rnk 7 / 1215
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $1.47B | $1.31B, Brazil | Netherlands
2019 ECONOMIC COMPLEXITY of United States: 1.59, Rnk 9 / 147
2019 PRODUCT COMPLEXITY IN Refined Petroleum: -0.87, Rnk 800 / 1029
Exports In 2019, United States exported $84.9B 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 ($26.7B), Canada ($9.62B), Brazil ($8.16B), Chile ($3.22B), and Colombia ($3.13B).
The fastest growing export markets for Refined Petroleum of United States between 2018 and 2019 were Brazil ($1.47B), Colombia ($722M), and Trinidad and Tobago ($684M).
Imports In 2019, United States imported $54B 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 ($11.1B), Russia ($4.85B), South Korea ($4.24B), Netherlands ($3.94B), and India ($3.13B).
The fastest growing import markets in Refined Petroleum for United States between 2018 and 2019 were Netherlands ($1.31B), Brazil ($942M), and South Korea ($831M).
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 (Most Favoured Nation duty rate treatement, 7.48%), Netherlands Antilles (Most Favoured Nation duty rate treatement, 7.48%), Antigua and Barbuda (Most Favoured Nation duty rate treatement, 7.48%), Bahamas (Most Favoured Nation duty rate treatement, 7.48%), and Saint Kitts and Nevis (Most Favoured Nation duty rate treatement, 7.48%).
July 2021
Overview In July 2021 United States' Refined Petroleum exports accounted up to $7.91B and imports accounted up to $5.73B, resulting in a positive trade balance of $2.17B. Between July 2020 and July 2021 the exports of United States' Refined Petroleum have increased by $3.5B (79.4%) from $4.41B to $7.91B, while imports increased by $2.96B (106%) from $2.78B to $5.73B.
Destinations In July 2021, Refined Petroleum were exported mostly to Mexico ($2.53B), Canada ($901M), Brazil ($880M), Panama ($380M), and Chile ($364M), and were imported mostly from Russia ($1.25B), Canada ($850M), Netherlands ($432M), Saudi Arabia ($283M), and Mexico ($281M).
Growth In July 2021, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Mexico ($1.26B or 99.6%), Canada ($491M or 119%), and Panama ($269M or 242%). In July 2021, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Russia ($617M or 97.8%), Canada ($385M or 82.8%), and Netherlands ($309M or 252%).
EXPORT GROWTH (July 2020 - July 2021): $3.5B, (79.4%)
IMPORT GROWTH (July 2020 - July 2021): $2.96B, (106%)
MAIN EXPORTER (July 2021): Texas, $4.74B
MAIN DESTINATION (July 2021): Mexico, $2.53B
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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EXPORTS (2019): $84.9B
IMPORTS (2019): $54B
NET TRADE (2019): $30.9B
In 2019, United States exported $84.9B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($26.7B), Canada ($9.62B), Brazil ($8.16B), Chile ($3.22B), and Colombia ($3.13B).
In 2019, United States imported $54B in Refined Petroleum, mainly from Canada ($11.1B), Russia ($4.85B), South Korea ($4.24B), Netherlands ($3.94B), and India ($3.13B).
IN 2019, United States HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:
IN 2019, United States HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United States WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United States WERE (2018 - 2019):
In 2019, United States's main exporting competitors in Refined Petroleum were:
In 2019, United States's main importing competitors in Refined Petroleum were:
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 (Most Favoured Nation duty rate treatement, 7.48%), Netherlands Antilles (Most Favoured Nation duty rate treatement, 7.48%), Antigua and Barbuda (Most Favoured Nation duty rate treatement, 7.48%), Bahamas (Most Favoured Nation duty rate treatement, 7.48%), and Saint Kitts and Nevis (Most Favoured Nation duty rate treatement, 7.48%).