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2022
Exports $1.11BWorld Rnk 39 / 149
Flag Rnk 410 / 1216
2022
Destination $163M Malaysia
2021 - 2022
FASTEST GROWING MARKET $163MBurma
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $287BWorld Rnk 1 / 158
Flag Rnk 1 / 1212
2022
Origin $17.6B Saudi Arabia
2021 - 2022
FASTEST GROWING ORIGIN $17.6BSaudi Arabia
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $1.11B in Crude Petroleum, making it the 39th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 410th most exported product in China. The main destination of Crude Petroleum exports from China are: Malaysia ($397M), Burma ($295M), South Korea ($181M), Singapore ($116M), and United States ($92.2M).

The fastest growing export markets for Crude Petroleum of China between 2021 and 2022 were Burma ($163M), United States ($92.2M), and Malaysia ($47M).

Imports In 2022, China imported $287B in Crude Petroleum, becoming the 1st largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in China. China imports Crude Petroleum primarily from: Saudi Arabia ($56.1B), Russia ($51B), Iraq ($33.8B), Oman ($25.2B), and Angola ($21.5B).

The fastest growing import markets in Crude Petroleum for China between 2021 and 2022 were Saudi Arabia ($17.6B), Russia ($15.6B), and Iraq ($10.6B).

Latest Trends

October 2024

About

Overview In October 2024 China's Crude Petroleum exports accounted up to $104M and imports accounted up to $24.3B, resulting in a negative trade balance of $24.2B. Between June 2023 and October 2024 the exports of China's   Crude Petroleum have increased by $27.5M (35.6%) from $77M to $104M, while imports decreased by $-8.05B (-24.9%) from $32.4B to $24.3B.

Destinations In October 2024, Crude Petroleum were exported mostly to Malaysia ($63.4M) and Singapore ($41M), and were imported mostly from Russia ($5.24B), Malaysia ($3.92B), Saudi Arabia ($3.24B), Iraq ($2.62B), and Brazil ($1.61B).

Growth In October 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to . In October 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Oman ($-1.46B or -47.5%), Iraq ($-1.24B or -32.1%), and Norway ($-521M or -80.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - October 2024)$27.5M(35.6%)
IMPORT GROWTH (October 2023 - October 2024)$-8.05B(-24.9%)
MAIN EXPORTER (October 2024)Liaoning Province$344M
MAIN DESTINATION (October 2024)Malaysia$63.4M

This section shows Crude Petroleum's exports and imports data at subnational level for China. 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 Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.11B
IMPORTS (2022)$287B
NET TRADE (2022)-$286B

In 2022, China exported $1.11B in Crude Petroleum. The main destinations of China exports on Crude Petroleum were Malaysia ($397M), Burma ($295M), South Korea ($181M), Singapore ($116M), and United States ($92.2M).

In 2022, China imported $287B in Crude Petroleum, mainly from Saudi Arabia ($56.1B), Russia ($51B), Iraq ($33.8B), Oman ($25.2B), and Angola ($21.5B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR China WERE (2021 - 2022):
Burma$163M (124%)
United States$92.2M (1%)
Malaysia$47M (13.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY China WERE (2021 - 2022):
Singapore-$70.6M (-37.8%)
India-$70.5M (-100%)
South Korea-$49.9M (-21.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, China's main importing competitors in Crude Petroleum were:
United States $199B
India $170B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $166M
TOP IMPORT POTENTIALRussia+ $13.1B

Crude Petroleum’s highest export potential is United States. With an export gap of $166M.   Crude Petroleum’s highest import potential is Russia with an import gap of $13.1B.

See methodology.

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