2022
Exports
$62.6BWorld Rnk 7 / 149
Flag Rnk 1 / 947
2022
PRODUCT COMPLEXITY IN Crude Petroleum
-2.25Rnk 1011 / 1025
2022
Imports
$41.9kWorld Rnk 113 / 158
Flag Rnk 1093 / 1175
2022
ECONOMIC COMPLEXITY of Kuwait
0.44Rnk 46 / 133

About

Exports In 2022, Kuwait exported $62.6B in Crude Petroleum, making it the 7th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Kuwait. The main destination of Crude Petroleum exports from Kuwait are: China ($21.3B), South Korea ($9.26B), India ($9.12B), Japan ($7.19B), and Chinese Taipei ($6.4B).

The fastest growing export markets for Crude Petroleum of Kuwait between 2021 and 2022 were China ($7.85B), South Korea ($2.93B), and Japan ($2.5B).

Imports In 2022, Kuwait imported $41.9k in Crude Petroleum, becoming the 113th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1093rd most imported product in Kuwait. Kuwait imports Crude Petroleum primarily from: United Arab Emirates ($41.7k) and Singapore ($194).

The fastest growing import markets in Crude Petroleum for Kuwait between 2021 and 2022 were United Arab Emirates ($41.6k) and Singapore ($194).

Latest Trends

Aug 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$62.6B
IMPORTS (2022)$41.9k
NET TRADE (2022)$62.6B

In 2022, Kuwait exported $62.6B in Crude Petroleum. The main destinations of Kuwait exports on Crude Petroleum were China ($21.3B), South Korea ($9.26B), India ($9.12B), Japan ($7.19B), and Chinese Taipei ($6.4B).

In 2022, Kuwait imported $41.9k in Crude Petroleum, mainly from United Arab Emirates ($41.7k) and Singapore ($194).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Kuwait WERE (2021 - 2022):
China$7.85B (58.5%)
South Korea$2.93B (46.3%)
Japan$2.5B (53.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Kuwait WERE (2021 - 2022):
Singapore-$182M (-94.4%)
Pakistan-$90.9M (-34.6%)
New Zealand-$39.7M (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Kuwait's main exporting competitors in Crude Petroleum were:
In 2022, Kuwait's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.39B
TOP IMPORT POTENTIALUnited Arab Emirates+ $107k

Crude Petroleum’s highest export potential is India. With an export gap of $1.39B.   Crude Petroleum’s highest import potential is United Arab Emirates with an import gap of $107k.

See methodology.

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