Mineral fuels, mineral oils and products of their distillation27 (Harmonized System 1992 for 2-digit)
2020 World Trade: $1.49T, Rnk 3 / 96
2020 Top Exporter | Top Importer: $161B | $227B, Russia | China
2020 Product Complexity: -2.5, Rnk 96 / 96
2019 - 2020 Export Growth (CAGR): -33.6%, Rnk 93 / 96
2018 Mean Tariff: 3.67%, Rnk 88 / 96
2020 Share of World Trade: 8.88%, Rnk 3 / 96
Overview This page contains the latest trade data of Mineral fuels, mineral oils and products of their distillation. In 2020, Mineral fuels, mineral oils and products of their distillation 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 decreased by -33.6%, from $2.24T to $1.49T. Trade in Mineral fuels, mineral oils and products of their distillation represent 8.88% 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 2020 the top exporters of Mineral fuels, mineral oils and products of their distillation 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 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 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).
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.
Trade By Country
Mineral fuels, mineral oils and products of their distillation are the world's 3rd most traded product.
In 2020, the top exporters of Mineral fuels, mineral oils and products of their distillation 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 were China ($227B), United States ($119B), India ($102B), Japan ($95.2B), and South Korea ($80.9B).
Trade by country
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 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 were Paraguay ($598M), Brunei ($317M), Uzbekistan ($208M), Liberia ($195M), and Cape Verde ($180M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Mineral fuels, mineral oils and products of their distillation.
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 are explained by 38 countries.
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 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 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 were China ($196B), Japan ($87.9B), India ($75B), South Korea ($55B), and Italy ($35.5B).
In 2020, the world most traded Mineral fuels, mineral oils and products..., disaggragated by their HS6 level were Mineral fuels, mineral oils and products... ($1.49T)
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.
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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