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2018
Exports $512MWorld Rnk 77 / 214
Flag Rnk 2 / 1147
2018
Destination $51.5M Lebanon
2021 - 2022
FASTEST GROWING MARKET $51.5MNigeria
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2018
Imports $2.93BWorld Rnk 73 / 225
Flag Rnk 1 / 1204
2018
Origin $323M Israel
2021 - 2022
FASTEST GROWING ORIGIN $323MIsrael

About

Exports In 2018, Cyprus exported $512M in Refined Petroleum, making it the 77th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Cyprus. The main destination of Refined Petroleum exports from Cyprus are: Lebanon ($301M), Nigeria ($51.5M), Togo ($44M), Yemen ($38.2M), and Gibraltar ($32.9M).

The fastest growing export markets for Refined Petroleum of Cyprus between 2021 and 2022 were Nigeria ($51.5M), Togo ($44M), and Yemen ($38.2M).

Imports In 2022, Cyprus imported $2.93B in Refined Petroleum, becoming the 73rd 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: Israel ($723M), Greece ($707M), Turkey ($615M), Italy ($416M), and Netherlands ($112M).

The fastest growing import markets in Refined Petroleum for Cyprus between 2021 and 2022 were Israel ($323M), Italy ($269M), and Turkey ($236M).

Latest Trends

Oct 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)$512M
IMPORTS (2022)$2.93B
NET TRADE (2022)-$2.42B

In 2022, Cyprus exported $512M in Refined Petroleum. The main destinations of Cyprus exports on Refined Petroleum were Lebanon ($301M), Nigeria ($51.5M), Togo ($44M), Yemen ($38.2M), and Gibraltar ($32.9M).

In 2022, Cyprus imported $2.93B in Refined Petroleum, mainly from Israel ($723M), Greece ($707M), Turkey ($615M), Italy ($416M), and Netherlands ($112M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Cyprus WERE (2021 - 2022):
Nigeria$51.5M (1%)
Togo$44M (1%)
Yemen$38.2M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Cyprus WERE (2021 - 2022):
Kenya-$65.1M (-99.9%)
Libya-$63.6M (-78.8%)
Italy-$16.7M (-99.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Cyprus's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Cyprus'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
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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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