2022
Exports
$768MWorld Rnk 71 / 214
Flag Rnk 35 / 1208
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$37.7BWorld Rnk 5 / 225
Flag Rnk 1 / 1206
2022
ECONOMIC COMPLEXITY of Australia
-0.24Rnk 78 / 133

About

Exports In 2022, Australia exported $768M in Refined Petroleum, making it the 71st largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 35th most exported product in Australia. The main destination of Refined Petroleum exports from Australia are: Singapore ($268M), China ($95.5M), Japan ($90.9M), Malaysia ($81.3M), and New Zealand ($43.1M).

The fastest growing export markets for Refined Petroleum of Australia between 2021 and 2022 were China ($39.1M), Saudi Arabia ($26.2M), and Singapore ($20.5M).

Imports In 2022, Australia imported $37.7B in Refined Petroleum, becoming the 5th 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 ($10.5B), Singapore ($10.4B), Malaysia ($3.65B), Chinese Taipei ($3.48B), and India ($3.11B).

The fastest growing import markets in Refined Petroleum for Australia between 2021 and 2022 were South Korea ($7.17B), Singapore ($3.77B), and Chinese Taipei ($2.57B).

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

Latest Trends

Sep 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 Refined 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)$768M
IMPORTS (2022)$37.7B
NET TRADE (2022)-$36.9B

In 2022, Australia exported $768M in Refined Petroleum. The main destinations of Australia exports on Refined Petroleum were Singapore ($268M), China ($95.5M), Japan ($90.9M), Malaysia ($81.3M), and New Zealand ($43.1M).

In 2022, Australia imported $37.7B in Refined Petroleum, mainly from South Korea ($10.5B), Singapore ($10.4B), Malaysia ($3.65B), Chinese Taipei ($3.48B), and India ($3.11B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Australia WERE (2021 - 2022):
China$39.1M (69.2%)
Saudi Arabia$26.2M (56.2k%)
Singapore$20.5M (8.28%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Australia WERE (2021 - 2022):
Japan-$89.6M (-49.6%)
Philippines-$37.7M (-95%)
South Africa-$28.1M (-97.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Australia's main exporting competitors in Refined Petroleum were:
In 2022, Australia's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
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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