NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

271320 (Harmonized System 1992 for 6-digit)

2023
World Trade $15.1BRnk 226 / 4644
2023
Top Exporter | Top Importer $2.21B | $2.48BCanada | United States
2023
Product Complexity -0.78Rnk 3587 / 4656
2022 - 2023
Export Growth (CAGR) -9.12%Rnk 2595 / 4644
2023
Share of World Trade 0.067%Rnk 226 / 4644

About

Overview This page contains the latest trade data of Petroleum bitumen. In 2023, Petroleum bitumen were the world's 226th most traded product, with a total trade of $15.1B. Between 2022 and 2023 the exports of Petroleum bitumen decreased by -9.12%, from $16.6B to $15.1B. Trade in Petroleum bitumen represent 0.067% of total world trade.

Petroleum bitumen are a part of Petroleum Coke.

Exports In 2023 the top exporters of Petroleum bitumen  were Canada ($2.21B), Singapore ($1.57B), Iraq ($1.33B), United Arab Emirates ($1.01B), and South Korea ($981M).

Imports In 2023 the top importers of Petroleum bitumen were United States ($2.48B), China ($1.42B), India ($1.34B), Indonesia ($612M), and Australia ($516M).

Ranking Petroleum bitumen ranks 3587th in the Product Complexity Index (PCI).

Description Petroleum bitumen is the thick, sticky, black substance that is composed of large molecules. The oil sands of Canada are one of the largest sources of petroleum bitumen. The substance is refined into crude oil, which can then be used for fuel for vehicles or in the production of plastics.

Latest Trends

Latest Data

View
Flow
Y-AXIS SCALE

The following visualization shows the latest trends on Petroleum bitumen. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* 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.

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Exporters and Importers

Top Origin (2023)Canada$2.21B
Top Destination (2023)United States$2.48B

In 2023 Petroleum bitumen were the world's 226th most traded product (out of 4,644).

In 2023, the top exporters of Petroleum bitumen were Canada ($2.21B), Singapore ($1.57B), Iraq ($1.33B), United Arab Emirates ($1.01B), and South Korea ($981M).

In 2023, the top importers of Petroleum bitumen were United States ($2.48B), China ($1.42B), India ($1.34B), Indonesia ($612M), and Australia ($516M).

Explore Visualizations

Exporters of Petroleum bitumen (2023)
[Click to Select a Country]

Importers of Petroleum bitumen (2023)
[Click to Select a Country]

Market Dynamics

Color
Top Origin Growth (2022 -  2023)Iraq$438M
Top Destination Growth (2022 -  2023)India$172M

Between 2022 and 2023, the exports of Petroleum bitumen grew the fastest in Iraq ($438M), Greece ($228M), Thailand ($52.7M), Austria ($51.1M), and Lithuania ($50.5M).

Between 2022 and 2023, the fastest growing importers of Petroleum bitumen were India ($172M), Indonesia ($91.6M), Mexico ($80.3M), South Africa ($77.1M), and Cameroon ($67.9M).

Explore Visualizations

Exporters of Petroleum bitumen (2022 - 2023)

Importers of Petroleum bitumen (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Petroleum bitumen.

In 2023, market concentration measured using Shannon Entropy, was 4.59. This means that most of the exports of Petroleum bitumen are explained by 24 countries.

Explore Visualizations

Value of Exports in Petroleum bitumen

Net Trade

TOP NET EXPORTER (2023)Canada$2.14B
TOP NET IMPORTER (2023)United States$2.06B

This map shows which countries export or import more of Petroleum bitumen. Each country is colored based on the difference in exports and imports of Petroleum bitumen during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Petroleum bitumen were Canada ($2.14B), Singapore ($1.57B), Iraq ($1.23B), South Korea ($970M), and United Arab Emirates ($871M).

In 2023, the countries that had a largest trade value in imports than in exports of Petroleum bitumen were United States ($2.06B), India ($1.27B), China ($1.13B), Indonesia ($608M), and Australia ($515M).

Net Trade (2023)

Country Comparison

Flow
Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Petroleum bitumen.
It is possible to select the main countries that export or import Petroleum bitumen in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Petroleum bitumen 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 (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms