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2022
Exports $18.2BWorld Rnk 14 / 214
Flag Rnk 6 / 1216
2022
Destination $2.49B Ireland
2021 - 2022
FASTEST GROWING MARKET $2.49BIreland
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $24.9BWorld Rnk 11 / 225
Flag Rnk 5 / 1214
2022
Origin $1.8B Netherlands
2021 - 2022
FASTEST GROWING ORIGIN $1.8BNetherlands
2022
ECONOMIC COMPLEXITY of United Kingdom1.42Rnk 12 / 133

About

Exports In 2022, United Kingdom exported $18.2B in Refined Petroleum, making it the 14th 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: Ireland ($4.05B), Netherlands ($3.56B), United States ($3.03B), Belgium ($2.33B), and Nigeria ($923M).

The fastest growing export markets for Refined Petroleum of United Kingdom between 2021 and 2022 were Ireland ($2.49B), Netherlands ($1.44B), and United States ($1.23B).

Imports In 2022, United Kingdom imported $24.9B in Refined Petroleum, becoming the 11th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in United Kingdom. United Kingdom imports Refined Petroleum primarily from: Netherlands ($4.26B), United Arab Emirates ($2.61B), Saudi Arabia ($2.47B), Kuwait ($2.17B), and United States ($1.91B).

The fastest growing import markets in Refined Petroleum for United Kingdom between 2021 and 2022 were Netherlands ($1.8B), Saudi Arabia ($1.72B), and Kuwait ($1.65B).

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

July 2024

About

Overview In July 2024 United Kingdom's Refined Petroleum exports accounted up to £764M and imports accounted up to £1.8B, resulting in a negative trade balance of £1.03B. Between July 2023 and July 2024 the exports of United Kingdom's   Refined Petroleum have decreased by £-42.4M (-5.26%) from £807M to £764M, while imports increased by £209M (13.1%) from £1.59B to £1.8B.

Destinations In July 2024, Refined Petroleum were exported mostly to Netherlands (£163M), Belgium (£161M), Ireland (£112M), United States (£53.8M), and Nigeria (£42.2M), and were imported mostly from Netherlands (£549M), United States (£350M), Kuwait (£287M), Belgium (£204M), and United Arab Emirates (£112M).

Growth In July 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 July 2024, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from United States (£308M or 10.4k%), Saudi Arabia (£138M or 435%), and Netherlands (£129M or 65%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)£-42.4M(-5.26%)
IMPORT GROWTH (July 2023 - July 2024)£209M(13.1%)
MAIN EXPORTER (July 2024)Milford£329M
MAIN DESTINATION (July 2024)Netherlands£163M

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 (2022)$18.2B
IMPORTS (2022)$24.9B
NET TRADE (2022)-$6.74B

In 2022, United Kingdom exported $18.2B in Refined Petroleum. The main destinations of United Kingdom exports on Refined Petroleum were Ireland ($4.05B), Netherlands ($3.56B), United States ($3.03B), Belgium ($2.33B), and Nigeria ($923M).

In 2022, United Kingdom imported $24.9B in Refined Petroleum, mainly from Netherlands ($4.26B), United Arab Emirates ($2.61B), Saudi Arabia ($2.47B), Kuwait ($2.17B), and United States ($1.91B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United Kingdom WERE (2021 - 2022):
Ireland$2.49B (161%)
Netherlands$1.44B (68.1%)
United States$1.23B (68.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United Kingdom WERE (2021 - 2022):
Bahamas-$63.6M (-100%)
Qatar-$44.3M (-97.9%)
Burkina Faso-$41.5M (-70.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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