Overview This page contains the latest trade data of Petroleum bitumen. In 2019, Petroleum bitumen were the world's 274th most traded product, with a total trade of $10.8B. Between 2018 and 2019 the exports of Petroleum bitumen decreased by -0.89%, from $10.9B to $10.8B. Trade in Petroleum bitumen represent 0.06% of total world trade.
Exports In 2019 the top exporters of Petroleum bitumen were South Korea ($1.28B), Singapore ($993M), Canada ($979M), Spain ($669M), and Germany ($644M).
Imports In 2019 the top importers of Petroleum bitumen were China ($1.65B), United States ($1.2B), Indonesia ($477M), France ($429M), and Australia ($365M).
Tariffs In 2018 the average tariff for Petroleum bitumen was 5.07%, making it the 4087th lowest tariff using the HS6 product classification.
The countries with the highest import tariffs for Petroleum bitumen are Trinidad and Tobago (33.1%), Turkmenistan (30%), Barbados (26.8%), Belize (26.4%), and Bermuda (25%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Sri Lanka (0%), and Maldives (0%).
Ranking Petroleum bitumen ranks 3654th 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.