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2022
Exports $484MWorld Rnk 53 / 149
Flag Rnk 249 / 1217
2022
Destination $22M Spain
2021 - 2022
FASTEST GROWING MARKET $22MGermany
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $51BWorld Rnk 7 / 158
Flag Rnk 2 / 1215
2022
Origin $2.98B Kazakhstan
2021 - 2022
FASTEST GROWING ORIGIN $2.98BKazakhstan
2022
ECONOMIC COMPLEXITY of Italy1.29Rnk 17 / 133

About

Exports In 2022, Italy exported $484M in Crude Petroleum, making it the 53rd largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 249th most exported product in Italy. The main destination of Crude Petroleum exports from Italy are: Spain ($318M), Germany ($42.7M), France ($38.7M), Turkey ($33.9M), and Netherlands ($27.9M).

The fastest growing export markets for Crude Petroleum of Italy between 2021 and 2022 were Germany ($22M), Spain ($20.1M), and Gibraltar ($12.4M).

Imports In 2022, Italy imported $51B in Crude Petroleum, becoming the 7th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most imported product in Italy. Italy imports Crude Petroleum primarily from: Kazakhstan ($11.6B), Azerbaijan ($6.72B), Russia ($6.33B), Libya ($6.06B), and Iraq ($4.66B).

The fastest growing import markets in Crude Petroleum for Italy between 2021 and 2022 were Kazakhstan ($2.98B), Russia ($2.49B), and United States ($2.4B).

Latest Trends

August 2024

About

Overview In August 2024 Italy's Crude Petroleum exports accounted up to €46.2M and imports accounted up to €2.19B, resulting in a negative trade balance of €2.14B. Between August 2023 and August 2024 the exports of Italy's   Crude Petroleum have increased by €1.77M (3.98%) from €44.5M to €46.2M, while imports decreased by €-939M (-30.1%) from €3.13B to €2.19B.

Destinations In August 2024, Crude Petroleum were exported mostly to Spain (€22.2M), Turkey (€13M), Germany (€11M), France (€4.24k), and Croatia (€178), and were imported mostly from Libya (€515M), Azerbaijan (€427M), Kazakhstan (€360M), Iraq (€232M), and Nigeria (€190M).

Growth In August 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to Spain (€19.8M or 161%). In August 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Nigeria (€-76.6M or -43.3%) and Algeria (€-18.3M or -33.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€1.77M(3.98%)
IMPORT GROWTH (August 2023 - August 2024)€-939M(-30.1%)
MAIN DESTINATION (August 2024)Spain€22.2M

This section shows Crude Petroleum's exports and imports data at subnational level for Italy. 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)$484M
IMPORTS (2022)$51B
NET TRADE (2022)-$50.5B

In 2022, Italy exported $484M in Crude Petroleum. The main destinations of Italy exports on Crude Petroleum were Spain ($318M), Germany ($42.7M), France ($38.7M), Turkey ($33.9M), and Netherlands ($27.9M).

In 2022, Italy imported $51B in Crude Petroleum, mainly from Kazakhstan ($11.6B), Azerbaijan ($6.72B), Russia ($6.33B), Libya ($6.06B), and Iraq ($4.66B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Italy WERE (2021 - 2022):
Germany$22M (106%)
Spain$20.1M (6.73%)
Gibraltar$12.4M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Italy WERE (2021 - 2022):
Turkey-$30.8M (-47.5%)
Malta-$21.3M (-100%)
India-$13.3M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Italy's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, Italy's main importing competitors in Crude Petroleum were:
China $287B
United States $199B
India $170B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALFrance+ $69.3M
TOP IMPORT POTENTIALRussia+ $2.3B

Crude Petroleum’s highest export potential is France. With an export gap of $69.3M.   Crude Petroleum’s highest import potential is Russia with an import gap of $2.3B.

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