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2023
Exports $1.38BWorld Rnk 58 / 214
Flag Rnk 1 / 1156
2023
Destination $629M Libya
2022 - 2023
FASTEST GROWING MARKET $629MLibya
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $2.33BWorld Rnk 77 / 226
Flag Rnk 1 / 1204
2023
Origin $233M Greece
2022 - 2023
FASTEST GROWING ORIGIN $233MSpain

About

Exports In 2023, Cyprus exported $1.38B in Refined Petroleum, making it the 58th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most exported product in Cyprus. The main destination of Refined Petroleum exports from Cyprus are: Libya ($646M), Lebanon ($406M), Nigeria ($154M), Greece ($89M), and Italy ($38.9M).

The fastest growing export markets for Refined Petroleum of Cyprus between 2022 and 2023 were Libya ($629M), Lebanon ($111M), and Nigeria ($98.8M).

Imports In 2023, Cyprus imported $2.33B in Refined Petroleum, becoming the 77th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Cyprus. Cyprus imports Refined Petroleum primarily from: Greece ($786M), Israel ($586M), Spain ($296M), Italy ($150M), and Algeria ($87.4M).

The fastest growing import markets in Refined Petroleum for Cyprus between 2022 and 2023 were Spain ($233M), Greece ($170M), and Algeria ($75.9M).

Latest Trends

Dec 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 (2023)$1.38B
IMPORTS (2023)$2.33B
NET TRADE (2023)-$954M

In 2023, Cyprus exported $1.38B in Refined Petroleum. The main destinations of Cyprus exports on Refined Petroleum were Libya ($646M), Lebanon ($406M), Nigeria ($154M), Greece ($89M), and Italy ($38.9M).

In 2023, Cyprus imported $2.33B in Refined Petroleum, mainly from Greece ($786M), Israel ($586M), Spain ($296M), Italy ($150M), and Algeria ($87.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Cyprus WERE (2022 - 2023):
Libya$629M (3.68k%)
Lebanon$111M (37.4%)
Nigeria$98.8M (180%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Cyprus WERE (2022 - 2023):
Togo-$44M (-100%)
Yemen-$38.2M (-100%)
Singapore-$34.1M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Cyprus's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, Cyprus's main importing competitors in Refined Petroleum were:
United States $68.8B
Singapore $55.7B
Australia $35.3B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
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N/A
N/AN/A
N/AN/A

Refined Petroleum’s highest export potential is N/A. With an export gap of N/A.   Refined Petroleum’s highest import potential is N/A with an import gap of N/A.

See methodology.

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