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2022
Exports $46.5BWorld Rnk 8 / 214
Flag Rnk 11 / 1216
2022
Destination $3.56B Singapore
2021 - 2022
FASTEST GROWING MARKET $3.56BHong Kong
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $20.3BWorld Rnk 15 / 225
Flag Rnk 18 / 1212
2022
Origin $965M South Korea
2021 - 2022
FASTEST GROWING ORIGIN $965MQatar
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $46.5B in Refined Petroleum, making it the 8th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 11th most exported product in China. The main destination of Refined Petroleum exports from China are: Singapore ($8.48B), Hong Kong ($7.59B), Liberia ($3.22B), Netherlands ($2.69B), and Panama ($2.65B).

The fastest growing export markets for Refined Petroleum of China between 2021 and 2022 were Hong Kong ($3.56B), Singapore ($3.21B), and Netherlands ($2.36B).

Imports In 2022, China imported $20.3B in Refined Petroleum, becoming the 15th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 18th most imported product in China. China imports Refined Petroleum primarily from: South Korea ($3.46B), Qatar ($2.98B), Russia ($2.9B), Singapore ($2.06B), and India ($1.95B).

The fastest growing import markets in Refined Petroleum for China between 2021 and 2022 were Qatar ($965M), United Arab Emirates ($798M), and Japan ($517M).

COMPANIES In 2023, leading companies such as Panasonic (48), Reebok (24), and CrimsonLogic (16) were at the forefront of shipping Refined Petroleum from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Refined Petroleum exports accounted up to $2.81B and imports accounted up to $2.31B, resulting in a positive trade balance of $500M. Between October 2023 and October 2024 the exports of China's   Refined Petroleum have decreased by $-1.44B (-33.8%) from $4.25B to $2.81B, while imports decreased by $-189M (-7.55%) from $2.5B to $2.31B.

Destinations In October 2024, Refined Petroleum were exported mostly to Hong Kong ($541M), Singapore ($441M), Australia ($195M), Philippines ($156M), and South Korea ($145M), and were imported mostly from Russia ($703M), Malaysia ($458M), South Korea ($296M), Singapore ($233M), and United Arab Emirates ($191M).

Growth In October 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Panama ($-172M or -57.7%), Liberia ($-117M or -36.2%), and Pakistan ($-70.5M or -39.3%). In October 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Malaysia ($-93.9M or -37.6%), Greece ($-68.8M or -100%), and Indonesia ($-66.3M or -89.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-1.44B(-33.8%)
IMPORT GROWTH (October 2023 - October 2024)$-189M(-7.55%)
MAIN EXPORTER (October 2024)Beijing$3.13B
MAIN DESTINATION (October 2024)Hong Kong$541M

This section shows Refined Petroleum'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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$46.5B
IMPORTS (2022)$20.3B
NET TRADE (2022)$26.3B

In 2022, China exported $46.5B in Refined Petroleum. The main destinations of China exports on Refined Petroleum were Singapore ($8.48B), Hong Kong ($7.59B), Liberia ($3.22B), Netherlands ($2.69B), and Panama ($2.65B).

In 2022, China imported $20.3B in Refined Petroleum, mainly from South Korea ($3.46B), Qatar ($2.98B), Russia ($2.9B), Singapore ($2.06B), and India ($1.95B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR China WERE (2021 - 2022):
Hong Kong$3.56B (88.1%)
Singapore$3.21B (61%)
Netherlands$2.36B (711%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY China WERE (2021 - 2022):
South Korea-$1.03B (-72%)
Philippines-$809M (-24.9%)
Chile-$247M (-93%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, China'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 POTENTIALPakistan+ $831M
TOP IMPORT POTENTIALRussia+ $3.13B

Refined Petroleum’s highest export potential is Pakistan. With an export gap of $831M.   Refined Petroleum’s highest import potential is Russia with an import gap of $3.13B.

See methodology.

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