Refined Petroleum in United States

2019
Exports | Imports
: $84.9B | $54B, World Rnk 1 / 214
Flag Rnk 1 / 1217 | World Rnk 1 / 225
Flag Rnk 7 / 1215

2019
Destination | Origin
: $26.7B | $11.1B, Mexico | Canada

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $1.47B | $1.31B, Brazil |  Netherlands

2019
ECONOMIC COMPLEXITY of United States
: 1.64, Rnk 9 / 157

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 (7.48%), Netherlands Antilles (7.48%), Antigua and Barbuda (7.48%), Bahamas (7.48%), and Saint Kitts and Nevis (7.48%).

Overview: In January 2021 United States' Refined Petroleum exports accounted up to $5.34B and imports accounted up to $3.55B, resulting in a positive trade balance of $1.79B. Between January 2020 and January 2021 the exports of United States'   Refined Petroleum have decreased by $-2.12B (-28.4%) from $7.46B to $5.34B, while imports decreased by $-784M (-18.1%) from $4.33B to $3.55B.

Destinations: In January 2021 Refined Petroleum exported mostly to Mexico ($1.59B), Brazil ($638M), Canada ($614M), Peru ($253M), and Japan ($201M), and imported mostly from Russia ($1.01B), Canada ($705M), Netherlands ($177M), India ($156M), and Mexico ($152M).

Growth: In January 2021, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-690M or -30.2%), Canada ($-403M or -39.6%), and Chile ($-170M or -51%). In January 2021, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Canada ($-316M or -30.9%), India ($-154M or -49.6%), and United Kingdom ($-118M or -65.7%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $-2.12B, (-28.4%)

IMPORT GROWTH (January 2020 - January 2021): $-784M, (-18.1%)

MAIN EXPORTER (January 2021): Texas, $3.39B

MAIN DESTINATION (January 2021): Mexico, $1.59B

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.

Value

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).

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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:

Flow

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):

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Market Concentration

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Flow
Type

In 2018, United States's main exporting competitors in Refined Petroleum were:

In 2018, United States's main importing competitors in Refined Petroleum were:

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Tariffs by Country

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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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