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Exports In 2023, Australia exported $1.51B in Refined Petroleum, making it the 56th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 21st most exported product in Australia. The main destination of Refined Petroleum exports from Australia are: Singapore ($440M), Malaysia ($395M), Japan ($272M), China ($111M), and Thailand ($46.9M).

The fastest growing export markets for Refined Petroleum of Australia between 2022 and 2023 were Malaysia ($304M), United States ($44.5M), and Thailand ($43.5M).

Imports In 2023, Australia imported $35.3B in Refined Petroleum, becoming the 3rd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Australia. Australia imports Refined Petroleum primarily from: South Korea ($11.1B), Singapore ($8.23B), Malaysia ($5.57B), Chinese Taipei ($2.64B), and China ($1.92B).

The fastest growing import markets in Refined Petroleum for Australia between 2022 and 2023 were Malaysia ($1.83B), South Korea ($1.07B), and China ($502M).

COMPANIES In 2023, leading companies such as Lawrence Wholesale (1) were at the forefront of shipping Refined Petroleum from Australia to the United States.

Historical Data

Trade Balance

Color
EXPORTS (2023)$1.51B
IMPORTS (2023)$35.3B
NET TRADE (2023)-$33.8B

In 2023, Australia exported $1.51B in Refined Petroleum. The main destinations of Australia exports on Refined Petroleum were Singapore ($440M), Malaysia ($395M), Japan ($272M), China ($111M), and Thailand ($46.9M).

In 2023, Australia imported $35.3B in Refined Petroleum, mainly from South Korea ($11.1B), Singapore ($8.23B), Malaysia ($5.57B), Chinese Taipei ($2.64B), and China ($1.92B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Australia WERE (2022 - 2023):
Malaysia$304M (334%)
United States$44.5M (46.4k%)
Thailand$43.5M (1.29k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Australia WERE (2022 - 2023):
South Korea-$81.3M (-99.6%)
Chinese Taipei-$24.9M (-76.8%)
Saudi Arabia-$24M (-99.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Australia's main exporting competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALChina+ $71.6M
TOP IMPORT POTENTIALIndia+ $910M

Refined Petroleum’s highest export potential is China. With an export gap of $71.6M.   Refined Petroleum’s highest import potential is India with an import gap of $910M.

See methodology.

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