Oil

Classification 52 for Standard International Trade Classification (SITC).

Overview This page contains the latest trade data of Oil. In 2018, Oil were the world's 5th most traded product, with a total trade of $978B. Between 2017 and 2018 the exports of Oil grew by 69.3%, from $578B to $978B. Trade in Oil represent 5.12% of total world trade.

Oil include Mineral fuels, lubricants and related materials.

Exports In 2018 the top exporters of Oil  were Russia ($137B), United Arab Emirates ($87.7B), United States ($82B), Canada ($78.6B), and Norway ($68.5B).

Imports In 2018 the top importers of Oil were World ($214B), China ($114B), United States ($99.2B), Netherlands ($59.9B), and South Korea ($43.1B).

Historical Data

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Exporters and Importers

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Trade By Country

Top Origin (2018): Russia, $137B

Top Destination (2018): World, $214B

Oil are the world's 5th most traded product.

In 2018, the top exporters of Oil were Russia ($137B), United Arab Emirates ($87.7B), United States ($82B), Canada ($78.6B), and Norway ($68.5B).

In 2018, the top importers of Oil were World ($214B), China ($114B), United States ($99.2B), Netherlands ($59.9B), and South Korea ($43.1B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United Arab Emirates, $87.7B

Top Destination Growth (2017 - 2018): World, $214B

Between 2017 and 2018, the exports of Oil grew the fastest in United Arab Emirates ($87.7B), Qatar ($65.6B), Kuwait ($54.5B), Angola ($35.8B), and United States ($35B).

Between 2017 and 2018, the fastest growing importers of Oil were World ($214B), China ($38B), Netherlands ($25.8B), South Korea ($15.1B), and Thailand ($13.2B).

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Market Concentration

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Cumulative market share

Value

This chart shows the evolution of the market concentration of exports of Oil.

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TOP NET EXPORTER (2018): Russia, $136B

TOP NET IMPORTER (2018): World, $213B

This map shows which countries export or import more of Oil. Each country is colored based on the difference in exports and imports of Oil during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Oil were Russia ($136B), United Arab Emirates ($84.7B), Norway ($66.5B), Qatar ($65.6B), and Canada ($61B).

In 2018, the countries that had a largest trade value in imports than in exports of Oil were World ($213B), China ($110B), Netherlands ($58B), South Korea ($41.2B), and Japan ($39.9B).

Disaggregation

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Value

In 2018, the world most traded Oil, disaggragated by their HS6 level were Mineral fuels, lubricants and related materials ($978B)