Overview: This page contains the latest trade data of Refined Petroleum. In 2019, Refined Petroleum were the world's 3rd most traded product, with a total trade of $688B. Between 2018 and 2019 the exports of Refined Petroleum decreased by -10.4%, from $768B to $688B. Trade in Refined Petroleum represent 3.8% of total world trade.
Exports: In 2019 the top exporters of Refined Petroleum were United States ($84.9B), Russia ($66.2B), Netherlands ($46.2B), Singapore ($43.1B), and India ($39.2B).
Imports: In 2019 the top importers of Refined Petroleum were United States ($54B), Netherlands ($41.8B), Singapore ($41.4B), Mexico ($29.3B), and Germany ($23.5B).
Tariffs: In 2018 the average tariff for Refined Petroleum was 13.1%, making it the 268th 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 748th 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.