HS Icon Petroleum Gas

2711 (Harmonized System 1992 for 4-digit)

Overview:  This page contains the latest trade data of Petroleum Gas. In 2019, Petroleum Gas were the world's 9th most traded product, with a total trade of $300B. Between 2018 and 2019 the exports of Petroleum Gas decreased by -9.51%, from $331B to $300B. Trade in Petroleum Gas represent 1.65% of total world trade.

Exports: In 2019 the top exporters of Petroleum Gas  were Qatar ($44.2B), Australia ($34.1B), United States ($32.3B), Russia ($26.3B), and Norway ($23B).

Imports: In 2019 the top importers of Petroleum Gas were China ($47.8B), Japan ($42.3B), South Korea ($21.8B), India ($16.4B), and Italy ($15.8B).

Tariffs: In 2018 the average tariff for Petroleum Gas was 3.79%, making it the 1039th lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Petroleum Gas are Bermuda (25%), Jordan (23.3%), Iran (19.5%), Nepal (15%), and Zambia (13.6%). The countries with the lowest tariffs are Madagascar (0%), Mauritius (0%), Hong Kong (0%), Lebanon (0%), and Sri Lanka (0%).

Ranking: Petroleum Gas ranks 950th in the Product Complexity Index (PCI).

Description: Petroleum gas is primarily used for heating, cooking, and hot water. Other gaseous hydrocarbons are used in the production of plastics, fertilizers, solvents, and other products.

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2019): Qatar, $44.2B

Top Destination (2019): China, $47.8B

Petroleum Gas are the world's 9th most traded product.

In 2019, the top exporters of Petroleum Gas were Qatar ($44.2B), Australia ($34.1B), United States ($32.3B), Russia ($26.3B), and Norway ($23B).

In 2019, the top importers of Petroleum Gas were China ($47.8B), Japan ($42.3B), South Korea ($21.8B), India ($16.4B), and Italy ($15.8B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Qatar, $8.17B

Top Destination Growth (2018 - 2019): China, $1.78B

Between 2018 and 2019, the exports of Petroleum Gas grew the fastest in Qatar ($8.17B), Australia ($2.88B), United States ($1.88B), Myanmar ($856M), and Azerbaijan ($838M).

Between 2018 and 2019, the fastest growing importers of Petroleum Gas were China ($1.78B), Norway ($1.52B), Bangladesh ($1.34B), Poland ($1.02B), and United Arab Emirates ($661M).

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Market Concentration

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Cumulative market share

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

In 2019,  market concentration measured using Shannon Entropy, was 4.56. This means that most of the exports of Petroleum Gas are explained by 23 countries.

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TOP NET EXPORTER (2019): Qatar, $44.2B

TOP NET IMPORTER (2019): China, $45.3B

This map shows which countries export or import more of Petroleum Gas. Each country is colored based on the difference in exports and imports of Petroleum Gas during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Petroleum Gas were Qatar ($44.2B), Australia ($33.9B), Russia ($25.1B), United States ($22.5B), and Norway ($21.3B).

In 2019, the countries that had a largest trade value in imports than in exports of Petroleum Gas were China ($45.3B), Japan ($42.2B), South Korea ($21.4B), India ($16.1B), and Italy ($15.5B).

Disaggregation

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Value

In 2019, the world most traded Petroleum Gas, disaggragated by their HS6 level were Natural gas, liquefied ($143B), Natural gas in gaseous state ($99.5B), Propane, liquefied ($31.6B), Butanes, liquefied ($16.4B), and Petroleum gases & gaseous hydrocarbons nes,... ($4.97B)

Import Tariffs

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In 2018, the average tariff for importing Petroleum Gas was 3.79%. The countries with the highest tariffs for importing Petroleum Gas were Bermuda (25%), Jordan (23.3%), Iran (19.5%), Nepal (15%), and Zambia (13.6%).

Product Complexity

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Diversification Frontier

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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.

Country by Relatedness

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The following visualization shows the relatedness of Petroleum Gas to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.