Overview: In 2018, Refined Petroleum were the world's 3rd most traded product, with a total trade of $753B. Between 2017 and 2018 the exports of Refined Petroleum grew by 31.3%, from $573B to $753B. Trade in Refined Petroleum represent 4.1% of total world trade.
Exports: In 2018 the top exporters of Refined Petroleum were United States ($95.8B), Russia ($77.5B), Singapore ($52.4B), Netherlands ($46.9B), and South Korea ($43.6B).
Imports: In 2018 the top importers of Refined Petroleum were United States ($56B), Singapore ($48B), Netherlands ($48B), Mexico ($31.3B), and China ($27.2B).
Tariffs: In 2018 the average tariff for Refined Petroleum was 13.1%, been the 268 lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Refined Petroleum are Austria (147%), Bermuda (25%), Uzbekistan (24.7%), Poland (21.9%), and Nepal (21.5%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Singapore (0%), Switzerland (0%), and Norway (0%).
Ranking: Refined Petroleum ranks 812th in the Product Complexity Index (PCI).