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271000 (Harmonized System 1992 for 6-digit)

2022
World Trade $1.08TRnk 2 / 4648
2022
Top Exporter | Top Importer $138B | $81.7BUnited States | United States
2022
Product Complexity -0.83Rnk 3626 / 4653
2021 - 2022
Export Growth (CAGR) 45.8%Rnk 196 / 4648
2022
Share of World Trade 4.55%Rnk 2 / 4648

About

Overview This page contains the latest trade data of Oils petroleum, bituminous, distillates, except crude. In 2022, Oils petroleum, bituminous, distillates, except crude were the world's 2nd most traded product, with a total trade of $1.08T. Between 2021 and 2022 the exports of Oils petroleum, bituminous, distillates, except crude grew by 45.8%, from $739B to $1.08T. Trade in Oils petroleum, bituminous, distillates, except crude represent 4.55% of total world trade.

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

Exports In 2022 the top exporters of Oils petroleum, bituminous, distillates, except crude  were United States ($138B), India ($86.2B), Netherlands ($68.1B), Russia ($67.4B), and Singapore ($62.9B).

Imports In 2022 the top importers of Oils petroleum, bituminous, distillates, except crude were United States ($81.7B), Singapore ($58.5B), Netherlands ($51.1B), Mexico ($42.5B), and Australia ($37.7B).

Ranking Oils petroleum, bituminous, distillates, except crude ranks 3626th in the Product Complexity Index (PCI).

Description -

Latest Trends

Latest Data

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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.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)United States$138B
Top Destination (2022)United States$81.7B

In 2022 Oils petroleum, bituminous, distillates, except crude were the world's 2nd most traded product (out of 4,648).

In 2022, the top exporters of Oils petroleum, bituminous, distillates, except crude were United States ($138B), India ($86.2B), Netherlands ($68.1B), Russia ($67.4B), and Singapore ($62.9B).

In 2022, the top importers of Oils petroleum, bituminous, distillates, except crude were United States ($81.7B), Singapore ($58.5B), Netherlands ($51.1B), Mexico ($42.5B), and Australia ($37.7B).

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Exporters of Oils petroleum, bituminous, distillates, except crude (2022)
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Importers of Oils petroleum, bituminous, distillates, except crude (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)United States$53.7B
Top Destination Growth (2021 -  2022)United States$18.4B

Between 2021 and 2022, the exports of Oils petroleum, bituminous, distillates, except crude grew the fastest in United States ($53.7B), India ($36.8B), South Korea ($24.8B), Netherlands ($22.7B), and Singapore ($21.8B).

Between 2021 and 2022, the fastest growing importers of Oils petroleum, bituminous, distillates, except crude were United States ($18.4B), Australia ($17.9B), Mexico ($14.8B), Germany ($12.9B), and United Kingdom ($12.7B).

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Exporters of Oils petroleum, bituminous, distillates, except crude (2021 - 2022)

Importers of Oils petroleum, bituminous, distillates, except crude (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Oils petroleum, bituminous, distillates, except crude.

In 2022, market concentration measured using Shannon Entropy, was 4.99. This means that most of the exports of Oils petroleum, bituminous, distillates, except crude are explained by 31 countries.

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Value of Exports in Oils petroleum, bituminous, distillates, except crude

Net Trade

TOP NET EXPORTER (2022)India$73.1B
TOP NET IMPORTER (2022)Australia$36.9B

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 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Oils petroleum, bituminous, distillates, except crude were India ($73.1B), Russia ($66B), United States ($56.6B), Saudi Arabia ($40.4B), and United Arab Emirates ($38.4B).

In 2022, the countries that had a largest trade value in imports than in exports of Oils petroleum, bituminous, distillates, except crude were Australia ($36.9B), Mexico ($36.8B), France ($24.7B), Nigeria ($19.7B), and Indonesia ($19.6B).

Net Trade (2022)

Country Comparison

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Ranking

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.

Top 10 Exporters Countries of Oils petroleum, bituminous, distillates, except crude 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 (2022)

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