Refined Petroleum in United Kingdom | The Observatory of Economic Complexity

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Exports In 2022, United Kingdom exported $18.2B in Refined Petroleum, making it the 14th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 6th most exported product in United Kingdom. The main destination of Refined Petroleum exports from United Kingdom are: Ireland ($4.05B), Netherlands ($3.56B), United States ($3.03B), Belgium ($2.33B), and Nigeria ($923M).

The fastest growing export markets for Refined Petroleum of United Kingdom between 2021 and 2022 were Ireland ($2.49B), Netherlands ($1.44B), and United States ($1.23B).

Imports In 2022, United Kingdom imported $24.9B in Refined Petroleum, becoming the 11th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in United Kingdom. United Kingdom imports Refined Petroleum primarily from: Netherlands ($4.26B), United Arab Emirates ($2.61B), Saudi Arabia ($2.47B), Kuwait ($2.17B), and United States ($1.91B).

The fastest growing import markets in Refined Petroleum for United Kingdom between 2021 and 2022 were Netherlands ($1.8B), Saudi Arabia ($1.72B), and Kuwait ($1.65B).

COMPANIES In 2023, leading companies such as DOLE FRESH FRUIT COMPANY (8.64k) and Boeing (234) were at the forefront of shipping Refined Petroleum from United Kingdom to the United States.

Latest Trends

January 2024

About

Overview In January 2024 United Kingdom's Refined Petroleum exports accounted up to £930M and imports accounted up to £1.78B, resulting in a negative trade balance of £846M. Between January 2023 and January 2024 the exports of United Kingdom's Refined Petroleum have decreased by £-133M (-12.5%) from £1.06B to £930M, while imports decreased by £-202M (-10.2%) from £1.98B to £1.78B.

Destinations In January 2024, Refined Petroleum were exported mostly to Belgium (£282M), Netherlands (£189M), Ireland (£148M), United States (£115M), and Nigeria (£55.1M), and were imported mostly from Netherlands (£378M), United States (£336M), Kuwait (£291M), Sweden (£157M), and United Arab Emirates (£156M).

Growth In January 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Belgium (£-119M or -47.8%), United States (£-34.8M or -18.5%), and Colombia (£-21.4M or -45.3%). In January 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from South Korea (£-49.9M or -99.5%), United Arab Emirates (£-47.5M or -37.9%), and Latvia (£-19.8M or -97.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)£-133M(-12.5%)

IMPORT GROWTH (January 2023 - January 2024)£-202M(-10.2%)

MAIN EXPORTER (January 2024)Milford£328M

MAIN DESTINATION (January 2024)Belgium£282M

This section shows Refined Petroleum's exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Refined Petroleum over time.

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