2023
Exports
$125BWorld Rnk 2 / 150
Flag Rnk 1 / 1217
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$170BWorld Rnk 2 / 159
Flag Rnk 2 / 1215
2023
ECONOMIC COMPLEXITY of United States
1.5Rnk 10 / 132

About

Exports In 2023, United States exported $125B in Crude Petroleum, making it the 2nd largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in United States. The main destination of Crude Petroleum exports from United States are: Netherlands ($14B), South Korea ($12.1B), China ($10.7B), Canada ($10.3B), and United Kingdom ($10.2B).

The fastest growing export markets for Crude Petroleum of United States between 2022 and 2023 were Netherlands ($5.01B), Germany ($4.49B), and China ($4.45B).

Imports In 2023, United States imported $170B in Crude Petroleum, becoming the 2nd largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most imported product in United States. United States imports Crude Petroleum primarily from: Canada ($97.1B), Mexico ($20.4B), Saudi Arabia ($10.8B), Iraq ($6.01B), and Brazil ($5.38B).

The fastest growing import markets in Crude Petroleum for United States between 2022 and 2023 were Venezuela ($3.46B), Nigeria ($695M), and Guyana ($484M).

Latest Trends

November 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-272M(-2.76%)
IMPORT GROWTH (November 2023 - November 2024)$-2.79B(-18%)
MAIN EXPORTER (November 2024)Texas$10.1B
MAIN DESTINATION (November 2024)Netherlands$2.06B

This section shows Crude Petroleum's exports and imports data at subnational level for United States. 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 (2023)$125B
IMPORTS (2023)$170B
NET TRADE (2023)-$45.1B

In 2023, United States exported $125B in Crude Petroleum. The main destinations of United States exports on Crude Petroleum were Netherlands ($14B), South Korea ($12.1B), China ($10.7B), Canada ($10.3B), and United Kingdom ($10.2B).

In 2023, United States imported $170B in Crude Petroleum, mainly from Canada ($97.1B), Mexico ($20.4B), Saudi Arabia ($10.8B), Iraq ($6.01B), and Brazil ($5.38B).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR United States WERE (2022 - 2023):
Netherlands$5.01B (55.7%)
Germany$4.49B (121%)
China$4.45B (70.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY United States WERE (2022 - 2023):
India-$7.04B (-56.1%)
South Korea-$1.87B (-13.4%)
Canada-$1.46B (-12.4%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Crude Petroleum were:
In 2023, United States's main importing competitors in Crude Petroleum were:
China $319B
India $140B

Explore Visualizations

Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $4.7B
TOP IMPORT POTENTIALIraq+ $3.44B

Crude Petroleum’s highest export potential is China. With an export gap of $4.7B.   Crude Petroleum’s highest import potential is Iraq with an import gap of $3.44B.

See methodology.

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