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2022
Exports $1.11BWorld Rnk 39 / 149
Flag Rnk 566 / 4606
2022
Destination $163M Malaysia
2021 - 2022
FASTEST GROWING MARKET $163MBurma
2022
Imports $287BWorld Rnk 1 / 158
Flag Rnk 1 / 4539
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 Petroleum oils, oils from bituminous minerals, crude, making it the 39th largest exporter of Petroleum oils, oils from bituminous minerals, crude in the world. At the same year, Petroleum oils, oils from bituminous minerals, crude was the 566th most exported product in China. The main destination of Petroleum oils, oils from bituminous minerals, crude exports from China are: Malaysia ($397M), Burma ($295M), South Korea ($181M), Singapore ($116M), and United States ($92.2M).

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

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

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

COMPANIES In 2023, leading companies such as CrimsonLogic (98.6k), IKEA Group (48.7k), and Itourscm (19.1k) were at the forefront of shipping Petroleum oils, oils from bituminous minerals, crude from China to the United States.

Latest Trends

July 2024

About

Overview In July 2024 China's Petroleum oils, oils from bituminous minerals, crude exports accounted up to $20.3M and imports accounted up to $25.8B, resulting in a negative trade balance of $25.8B. Between February 2023 and July 2024 the exports of China's   Petroleum oils, oils from bituminous minerals, crude have decreased by $-29.2M (-58.9%) from $49.5M to $20.3M, while imports increased by $1.88B (7.87%) from $23.9B to $25.8B.

Destinations In July 2024, Petroleum oils, oils from bituminous minerals, crude were exported mostly to Singapore ($20.3M), and were imported mostly from Russia ($4.46B), Saudi Arabia ($4.07B), Malaysia ($3.47B), Iraq ($2.76B), and Oman ($2.15B).

Growth In July 2024, the decrease in Petroleum oils, oils from bituminous minerals, crude's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the increase in Petroleum oils, oils from bituminous minerals, crude's year-by-year imports was explained primarily by an increase in imports from Malaysia ($385M or 53.4%), Qatar ($326M or 104%), and Saudi Arabia ($312M or 6.68%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (February 2023 - July 2024)$-29.2M(-58.9%)
IMPORT GROWTH (July 2023 - July 2024)$1.88B(7.87%)
MAIN EXPORTER (July 2024)Shandong Province$137M
MAIN DESTINATION (July 2024)Singapore$20.3M

This section shows Petroleum oils, oils from bituminous minerals, crude'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 Petroleum oils, oils from bituminous minerals, crude over time.

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Unit Prices

Flow
Value

The following visualization shows the unit prices for Petroleum oils, oils from bituminous minerals, crude throughout time. Products without a clear unit are excluded.

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

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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 Petroleum oils, oils from bituminous minerals, crude. The main destinations of China exports on Petroleum oils, oils from bituminous minerals, crude were Malaysia ($397M), Burma ($295M), South Korea ($181M), Singapore ($116M), and United States ($92.2M).

In 2022, China imported $287B in Petroleum oils, oils from bituminous minerals, crude, 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 Petroleum oils, oils from bituminous minerals, crude 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 Petroleum oils, oils from bituminous minerals, crude 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 Petroleum oils, oils from bituminous minerals, crude were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, China's main importing competitors in Petroleum oils, oils from bituminous minerals, crude were:
United States $199B
India $170B

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Trade Value of Petroleum oils, oils from bituminous minerals, crude by Exporters

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