HS Icon Oils petroleum, bituminous, distillates, except crude

271000 (Harmonized System 1992 for 6-digit)

Overview This page contains the latest trade data of Oils petroleum, bituminous, distillates, except crude. In 2020, Oils petroleum, bituminous, distillates, except crude were the world's 3rd most traded product, with a total trade of $451B. Between 2019 and 2020 the exports of Oils petroleum, bituminous, distillates, except crude decreased by -36.6%, from $710B to $451B. Trade in Oils petroleum, bituminous, distillates, except crude represent 2.69% of total world trade.

Oils petroleum, bituminous, distillates, except crude are a part of Refined Petroleum.

Exports In 2020 the top exporters of Oils petroleum, bituminous, distillates, except crude  were United States ($58.4B), Russia ($48B), Netherlands ($29.7B), Singapore ($27B), and India ($25.3B).

Imports In 2020 the top importers of Oils petroleum, bituminous, distillates, except crude were United States ($31B), Singapore ($30.2B), Netherlands ($23.8B), Mexico ($18.1B), and China ($16.2B).

Tariffs In 2018 the average tariff for Oils petroleum, bituminous, distillates, except crude was 8.59%, making it the 2668th lowest tariff using the HS6 product classification.

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Ranking Oils petroleum, bituminous, distillates, except crude ranks 3779th in the Product Complexity Index (PCI).

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The following visualization shows the latest trends on Oils petroleum, bituminous, distillates, except crude. 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): United States, $58.4B

Top Destination (2020): United States, $31B

Oils petroleum, bituminous, distillates, except crude are the world's 3rd most traded product.

In 2020, the top exporters of Oils petroleum, bituminous, distillates, except crude were United States ($58.4B), Russia ($48B), Netherlands ($29.7B), Singapore ($27B), and India ($25.3B).

In 2020, the top importers of Oils petroleum, bituminous, distillates, except crude were United States ($31B), Singapore ($30.2B), Netherlands ($23.8B), Mexico ($18.1B), and China ($16.2B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2019 -  2020): Brunei, $1.42B

Top Destination Growth (2019 - 2020): Paraguay, $590M

Between 2019 and 2020, the exports of Oils petroleum, bituminous, distillates, except crude grew the fastest in Brunei ($1.42B), Bahamas ($198M), Republic of the Congo ($175M), Nigeria ($109M), and Namibia ($101M).

Between 2019 and 2020, the fastest growing importers of Oils petroleum, bituminous, distillates, except crude were Paraguay ($590M), Cape Verde ($213M), Liberia ($205M), Ghana ($139M), and Seychelles ($85.1M).

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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 Oils petroleum, bituminous, distillates, except crude.

In 2020,  market concentration measured using Shannon Entropy, was 4.98. This means that most of the exports of Oils petroleum, bituminous, distillates, except crude are explained by 31 countries.

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TOP NET EXPORTER (2020): Russia, $46.7B

TOP NET IMPORTER (2020): Mexico, $16.8B

This map shows which countries export or import more of Oils petroleum, bituminous, distillates, except crude. Each country is colored based on the difference in exports and imports of Oils petroleum, bituminous, distillates, except crude during 2020.

In 2020, the countries that had a largest trade value in exports than in imports of Oils petroleum, bituminous, distillates, except crude were Russia ($46.7B), United States ($27.4B), India ($19.9B), United Arab Emirates ($12.4B), and South Korea ($10.3B).

In 2020, the countries that had a largest trade value in imports than in exports of Oils petroleum, bituminous, distillates, except crude were Mexico ($16.8B), France ($10.3B), Australia ($9.89B), Hong Kong ($7.38B), and Nigeria ($7.13B).

Disaggregation

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Value

In 2019, the world most traded Oils petroleum, bituminous, distillates, except crude, disaggragated by their HS6 level were Oils petroleum, bituminous, distillates, except crude ($451B)

Country Comparison

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This visualization shows the countries that have an important ratio of their trade related to Oils petroleum, bituminous, distillates, except crude.
It is possible to select the main countries that export or import Oils petroleum, bituminous, distillates, except crude 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 Oils petroleum, bituminous, distillates, except crude was 8.59%. The countries with the highest tariffs for importing Oils petroleum, bituminous, distillates, except crude were Austria (38.6%), Finland (0.69%), Latvia (0%), Turkmenistan (0%), and Estonia (0%).

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.