Mineral fuels, mineral oils and products of their distillation | OEC

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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 Mineral fuels, mineral oils and products of their distillation.

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).

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

Ranking Mineral fuels, mineral oils and products of their distillation 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. 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

Trade By Country

Year

Top Origin (2021): Russia, $258B

Top Destination (2021): China, $326B

Mineral fuels, mineral oils and products of their distillation are the world's 2nd most traded product.

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).

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Market Dynamics

Trade by country

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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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Market Concentration

Cumulative market share

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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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Net Trade

Year

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).

Disaggregation

Value

Disaggregation

YearCountry

In 2021, the world most traded Mineral fuels, mineral oils and products..., disaggragated by their HS6 level were Mineral fuels, mineral oils and products... ($2.44T)

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.

Product Complexity

Diversification Frontier

Specialization

Year

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.

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Exporters and Importers

Market Dynamics

Market Concentration

Net Trade

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Country Comparison

Product Complexity

Diversification Frontier

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