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2023
Exports $12.9BWorld Rnk 19 / 214
Flag Rnk 6 / 1216
2023
Destination $1.15B Belgium
2022 - 2023
FASTEST GROWING MARKET $1.15BBelgium
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $27.1BWorld Rnk 10 / 226
Flag Rnk 4 / 1214
2023
Origin $1.59B Netherlands
2022 - 2023
FASTEST GROWING ORIGIN $1.59BUnited States
2023
ECONOMIC COMPLEXITY of United Kingdom1.5Rnk 11 / 132

About

Exports In 2023, United Kingdom exported $12.9B in Refined Petroleum, making it the 19th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 6th most exported product in United Kingdom. The main destination of Refined Petroleum exports from United Kingdom are: Belgium ($2.74B), United States ($2.2B), Ireland ($1.83B), Netherlands ($1.73B), and Nigeria ($1.11B).

The fastest growing export markets for Refined Petroleum of United Kingdom between 2022 and 2023 were Belgium ($1.15B), Nigeria ($267M), and Angola ($187M).

Imports In 2023, United Kingdom imported $27.1B in Refined Petroleum, becoming the 10th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in United Kingdom. United Kingdom imports Refined Petroleum primarily from: Netherlands ($3.84B), United States ($3.43B), Kuwait ($3.28B), Saudi Arabia ($2.55B), and India ($2.19B).

The fastest growing import markets in Refined Petroleum for United Kingdom between 2022 and 2023 were United States ($1.59B), Kuwait ($861M), and China ($600M).

COMPANIES In 2023, leading companies such as Dole Fresh Fruit (2.16k), BOEING (2), and Chevron (2) were at the forefront of shipping Refined Petroleum from United Kingdom to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United Kingdom's Refined Petroleum exports accounted up to £635M and imports accounted up to £1.31B, resulting in a negative trade balance of £672M. Between November 2023 and November 2024 the exports of United Kingdom's   Refined Petroleum have decreased by £-86.7M (-12%) from £722M to £635M, while imports decreased by £-838M (-39.1%) from £2.15B to £1.31B.

Destinations In November 2024, Refined Petroleum were exported mostly to Netherlands (£258M), Ireland (£80.3M), Nigeria (£77.9M), Belgium (£42.9M), and Senegal (£36.3M), and were imported mostly from Netherlands (£271M), Kuwait (£206M), Belgium (£167M), United Arab Emirates (£119M), and United States (£76.1M).

Growth In November 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Belgium (£-119M or -47.8%), United States (£-34.8M or -18.5%), and Colombia (£-21.4M or -45.3%). In November 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from South Korea (£-49.9M or -99.5%), United Arab Emirates (£-47.5M or -37.9%), and Latvia (£-19.8M or -97.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)£-86.7M(-12%)
IMPORT GROWTH (November 2023 - November 2024)£-838M(-39.1%)
MAIN EXPORTER (November 2024)Milford£329M
MAIN DESTINATION (November 2024)Netherlands£258M

This section shows Refined Petroleum's exports and imports data at subnational level for United Kingdom. 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 (2023)$12.9B
IMPORTS (2023)$27.1B
NET TRADE (2023)-$14.1B

In 2023, United Kingdom exported $12.9B in Refined Petroleum. The main destinations of United Kingdom exports on Refined Petroleum were Belgium ($2.74B), United States ($2.2B), Ireland ($1.83B), Netherlands ($1.73B), and Nigeria ($1.11B).

In 2023, United Kingdom imported $27.1B in Refined Petroleum, mainly from Netherlands ($3.84B), United States ($3.43B), Kuwait ($3.28B), Saudi Arabia ($2.55B), and India ($2.19B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United Kingdom WERE (2022 - 2023):
Belgium$1.15B (72.2%)
Nigeria$267M (31.7%)
Angola$187M (4.67k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United Kingdom WERE (2022 - 2023):
Ireland-$1.54B (-45.8%)
Ghana-$1.14B (-90.1%)
United States-$1.04B (-32.1%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United Kingdom's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, United Kingdom'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
View
TOP EXPORT POTENTIALUnited States+ $739M
TOP IMPORT POTENTIALIndia+ $1.21B

Refined Petroleum’s highest export potential is United States. With an export gap of $739M.   Refined Petroleum’s highest import potential is India with an import gap of $1.21B.

See methodology.

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