Overview This page contains the latest trade data of Refined Petroleum. In 2021, Refined Petroleum were the world's 3rd most traded product, with a total trade of $746B. Between 2020 and 2021 the exports of Refined Petroleum grew by 64.6%, from $454B to $746B. Trade in Refined Petroleum represent 3.55% of total world trade.
Refined Petroleum are a part of Mineral fuels, mineral oils and products of their distillation. They include Oils petroleum, bituminous, distillates, except crude.
Tariffs In 2018 the average tariff for Refined Petroleum was 7.54%, making it the 577th lowest tariff using the HS4 product classification.
Ranking Refined Petroleum ranks 831st in the Product Complexity Index (PCI).
Description Petroleum oils and oils obtained from bituminous minerals are used in the production of lubricants, fuels, and other oil-based products. These oils are also used in the production of asphalt, plastics, and other materials.