Refined Petroleum in United States

EXPORTS (2019): $84.9B, World Rnk 1 / 214
Flag Rnk 1 / 1217

TOP DESTINATION (2019): $26.7B, Mexico

FASTEST GROWING MARKET (2018 - 2019): $1.47B, Brazil

IMPORTS (2019): $54B, World Rnk 1 / 225
Flag Rnk 7 / 1215

TOP ORIGIN (2019): $11.1B, Canada

FASTEST GROWING ORIGIN (2018 - 2019): $1.31B, Netherlands

ECONOMIC COMPLEXITY of United States (2019): 1.59, Rnk 9 / 147

PRODUCT COMPLEXITY  IN Refined Petroleum (2019): -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 March 2021 United States' Refined Petroleum exports accounted up to $5.49B and imports accounted up to $4.95B, resulting in a positive trade balance of $535M. Between March 2020 and March 2021 the exports of United States'   Refined Petroleum have decreased by $-1.4B (-20.3%) from $6.89B to $5.49B, while imports increased by $1.74B (54.1%) from $3.21B to $4.95B.

Destinations: In March 2021 Refined Petroleum exported mostly to Mexico ($1.58B), Canada ($636M), Brazil ($443M), Panama ($197M), and Singapore ($190M), and imported mostly from Canada ($845M), Russia ($770M), Netherlands ($203M), South Korea ($196M), and Singapore ($133M).

Growth: In March 2021, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Brazil ($-384M or -52.3%), Chile ($-228M or -50.4%), and Singapore ($-155M or -83.7%). In March 2021, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Russia ($554M or 87.1%), Canada ($300M or 46.9%), and Netherlands ($286M or 168%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (March 2020 - March 2021): $-1.4B, (-20.3%)

IMPORT GROWTH (March 2020 - March 2021): $1.74B, (54.1%)

MAIN EXPORTER (March 2021): Texas, $2.7B

MAIN DESTINATION (March 2021): Mexico, $1.58B

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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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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