Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes

27 (Harmonized System 1992 for 2-digit)

About

Overview This page contains the latest trade data of Mineral fuels, mineral oils and products of their distillation. In 2021, Mineral fuels, mineral oils and products of their distillation were the world's 2nd most traded product, with a total trade of $2.44T. Between 2020 and 2021 the exports of Mineral fuels, mineral oils and products of their distillation grew by 62.6%, from $1.5T to $2.44T. Trade in Mineral fuels, mineral oils and products of their distillation represent 11.6% of total world trade.

Mineral fuels, mineral oils and products of their distillation are a part of Mineral Products. They include Crude Petroleum, Refined Petroleum, Petroleum Gas, Coal Briquettes, Electricity, Coal Tar Oil, Petroleum Coke, Coke, Petroleum Jelly, and Lignite, among others.

Exports In 2021 the top exporters of Mineral fuels, mineral oils and products of their distillation  were Russia ($258B), United States ($242B), Saudi Arabia ($180B), Canada ($120B), and United Arab Emirates ($112B).

Imports In 2021 the top importers of Mineral fuels, mineral oils and products of their distillation were China ($326B), United States ($206B), India ($159B), Japan ($137B), and South Korea ($124B).

Ranking Mineral fuels, mineral oils and products of their distillation ranks 96th in the Product Complexity Index (PCI).

Latest Data

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The following visualization shows the latest trends on Mineral fuels, mineral oils and products of their distillation. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Exporters and Importers

Top Origin (2021)Russia$258B
Top Destination (2021)China$326B

In 2021 Mineral fuels, mineral oils and products of their distillation were the world's 2nd most traded product (out of 96).

In 2021, the top exporters of Mineral fuels, mineral oils and products of their distillation were Russia ($258B), United States ($242B), Saudi Arabia ($180B), Canada ($120B), and United Arab Emirates ($112B).

In 2021, the top importers of Mineral fuels, mineral oils and products of their distillation were China ($326B), United States ($206B), India ($159B), Japan ($137B), and South Korea ($124B).

Explore Visualizations

Exporters of Mineral fuels, mineral oils and products of their distillation (2021)
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Importers of Mineral fuels, mineral oils and products of their distillation (2021)
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Market Dynamics

Color
Top Origin Growth (2020 -  2021)Russia$96.4B
Top Destination Growth (2020 -  2021)China$95.2B

Between 2020 and 2021, the exports of Mineral fuels, mineral oils and products of their distillation grew the fastest in Russia ($96.4B), United States ($84.1B), Saudi Arabia ($68.3B), Norway ($65.4B), and Canada ($51.2B).

Between 2020 and 2021, the fastest growing importers of Mineral fuels, mineral oils and products of their distillation were China ($95.2B), United States ($87.5B), India ($57.7B), South Korea ($43.8B), and Netherlands ($43.4B).

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Exporters of Mineral fuels, mineral oils and products of their distillation (2020 - 2021)

Importers of Mineral fuels, mineral oils and products of their distillation (2020 - 2021)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Mineral fuels, mineral oils and products of their distillation.

In 2021, market concentration measured using Shannon Entropy, was 5.26. This means that most of the exports of Mineral fuels, mineral oils and products of their distillation are explained by 38 countries.

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Value of Exports in Mineral fuels, mineral oils and products of their distillation

Net Trade

TOP NET EXPORTER (2021)Russia$255B
TOP NET IMPORTER (2021)China$286B

This map shows which countries export or import more of Mineral fuels, mineral oils and products of their distillation. Each country is colored based on the difference in exports and imports of Mineral fuels, mineral oils and products of their distillation during 2021.

In 2021, the countries that had a largest trade value in exports than in imports of Mineral fuels, mineral oils and products of their distillation were Russia ($255B), Saudi Arabia ($172B), Norway ($102B), Canada ($90.3B), and United Arab Emirates ($88.9B).

In 2021, the countries that had a largest trade value in imports than in exports of Mineral fuels, mineral oils and products of their distillation were China ($286B), Japan ($127B), India ($108B), South Korea ($84.2B), and Italy ($61.8B).

Net Trade (2021)

Disaggregation

Value
Disaggregation

In 2021, the world most traded Mineral fuels, mineral oils and products..., disaggragated by their HS6 level were Crude Petroleum ($951B), Refined Petroleum ($746B), Petroleum Gas ($438B), Coal Briquettes ($143B), and Electricity ($71B)

HS6 Disaggregation for Mineral fuels, mineral oils and products of their distillation (2021)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Mineral fuels, mineral oils and products of their distillation.
It is possible to select the main countries that export or import Mineral fuels, mineral oils and products of their distillation in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Mineral fuels, mineral oils and products of their distillation by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2021)

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