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2022
Exports $17.2BWorld Rnk 16 / 214
Flag Rnk 4 / 1210
falsefalse United States
2021 - 2022
FASTEST GROWING MARKETfalseUnited States
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $19.8BWorld Rnk 16 / 225
Flag Rnk 2 / 1213
2021 - 2022
FASTEST GROWING ORIGINfalseN/A
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $17.2B in Refined Petroleum, making it the 16th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Canada. The main destination of Refined Petroleum exports from Canada are: United States ($15.5B), Peru ($423M), Panama ($191M), Netherlands ($162M), and Bahamas ($158M).

The fastest growing export markets for Refined Petroleum of Canada between 2021 and 2022 were United States ($5.07B), Peru ($268M), and Panama ($151M).

Imports In 2022, Canada imported $19.8B in Refined Petroleum, becoming the 16th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Canada. Canada imports Refined Petroleum primarily from: United States ($15.7B), Netherlands ($1.89B), United Kingdom ($571M), Kuwait ($267M), and India ($166M).

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

Latest Trends

July 2024

About

Overview In July 2024 Canada's Refined Petroleum exports accounted up to C$1.64B and imports accounted up to C$2B, resulting in a negative trade balance of C$356M. Between July 2023 and July 2024 the exports of Canada's   Refined Petroleum have increased by C$107M (6.94%) from C$1.54B to C$1.64B, while imports increased by C$226M (12.8%) from C$1.77B to C$2B.

Destinations In July 2024, Refined Petroleum were exported mostly to United States (C$1.45B), Belgium (C$45.7M), Gibraltar (C$45.5M), Bahamas (C$44.4M), and Panama (C$24.9M), and were imported mostly from United States (C$1.32B), Netherlands (C$277M), United Kingdom (C$189M), Belgium (C$74.9M), and Spain (C$47.9M).

Growth In July 2024, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to United States (C$456M or 33%), Peru (C$8.76M or 21.7%), and Japan (C$484k or 698%). In July 2024, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (C$237M or 19.9%), Netherlands (C$108M or 383%), and Qatar (C$60M or 1.31k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)C$107M(6.94%)
IMPORT GROWTH (July 2023 - July 2024)C$226M(12.8%)
MAIN EXPORTER (July 2024)New BrunswickC$937M
MAIN DESTINATION (July 2024)United StatesC$1.45B

This section shows Refined Petroleum's exports and imports data at subnational level for Canada. 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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$17.2B
IMPORTS (2022)$19.8B
NET TRADE (2022)-$2.65B

In 2022, Canada exported $17.2B in Refined Petroleum. The main destinations of Canada exports on Refined Petroleum were United States ($15.5B), Peru ($423M), Panama ($191M), Netherlands ($162M), and Bahamas ($158M).

In 2022, Canada imported $19.8B in Refined Petroleum, mainly from United States ($15.7B), Netherlands ($1.89B), United Kingdom ($571M), Kuwait ($267M), and India ($166M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$5.07B (48.8%)
Peru$268M (172%)
Panama$151M (374%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Canada WERE (2021 - 2022):
Bahamas-$97.8M (-38.3%)
Curaçao-$50.4M (-100%)
Mexico-$50.1M (-43.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Canada's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.2B
TOP IMPORT POTENTIALUnited States+ $1.7B

Refined Petroleum’s highest export potential is United States. With an export gap of $4.2B.   Refined Petroleum’s highest import potential is United States with an import gap of $1.7B.

See methodology.

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