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

27 (Harmonized System 1992 for 2-digit)

Overview This page contains the latest trade data of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes. In 2020, Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were the world's 3rd most traded product, with a total trade of $1.49T. Between 2019 and 2020 the exports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes decreased by -33.6%, from $2.24T to $1.49T. Trade in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes represent 8.88% of total world trade.

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes are a part of Mineral Products. They include Mineral fuels, mineral oils and products of their distillation.

Exports In 2020 the top exporters of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes  were Russia ($161B), United States ($158B), Saudi Arabia ($109B), United Arab Emirates ($69.9B), and Canada ($68.5B).

Imports In 2020 the top importers of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were China ($227B), United States ($119B), India ($102B), Japan ($95.2B), and South Korea ($80.9B).

Tariffs In 2018 the average tariff for Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was 3.67%, making it the 88th lowest tariff using the HS2 product classification.

The countries with the highest import tariffs for Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes are Austria (25.6%), Bermuda (20.9%), Cayman Islands (19.3%), and Comoros (18.6%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).

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

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The following visualization shows the latest trends on Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes. 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

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Exporters and Importers

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Trade By Country

Top Origin (2020): Russia, $161B

Top Destination (2020): China, $227B

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes are the world's 3rd most traded product.

In 2020, the top exporters of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were Russia ($161B), United States ($158B), Saudi Arabia ($109B), United Arab Emirates ($69.9B), and Canada ($68.5B).

In 2020, the top importers of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were China ($227B), United States ($119B), India ($102B), Japan ($95.2B), and South Korea ($80.9B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Guyana, $1.17B

Top Destination Growth (2019 - 2020): Paraguay, $598M

Between 2019 and 2020, the exports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes grew the fastest in Guyana ($1.17B), Laos ($575M), Chad ($306M), South Africa ($157M), and Bahamas ($152M).

Between 2019 and 2020, the fastest growing importers of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were Paraguay ($598M), Brunei ($317M), Uzbekistan ($208M), Liberia ($195M), and Cape Verde ($180M).

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Market Concentration

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Cumulative market share

Value

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

In 2020,  market concentration measured using Shannon Entropy, was 5.27. This means that most of the exports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes are explained by 38 countries.

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TOP NET EXPORTER (2020): Russia, $159B

TOP NET IMPORTER (2020): China, $196B

This map shows which countries export or import more of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes. Each country is colored based on the difference in exports and imports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were Russia ($159B), Saudi Arabia ($104B), United Arab Emirates ($57.8B), Australia ($51.2B), and Canada ($49.2B).

In 2020, the countries that had a largest trade value in imports than in exports of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were China ($196B), Japan ($87.9B), India ($75B), South Korea ($55B), and Italy ($35.5B).

Disaggregation

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Value
Disaggregation

In 2019, the world most traded Mineral fuels, mineral oils and products..., disaggragated by their HS6 level were Petroleum oils, oils from bituminous minerals,... ($640B), Oils petroleum, bituminous, distillates, except crude ($451B), Natural gas, liquefied ($99.6B), Natural gas in gaseous state ($68.9B), and Bituminous coal, not agglomerated ($67.4B)

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; bituminous substances; mineral waxes.
It is possible to select the main countries that export or import Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in the world, or by continent, as well as select the measure of interest.

Import Tariffs

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In 2018, the average tariff for importing Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was 3.67%. The countries with the highest tariffs for importing Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were Austria (25.6%), Bermuda (20.9%), Cayman Islands (19.3%), and Comoros (18.6%).

Product Complexity

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Diversification Frontier

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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.