2023
Exports
$23.7BWorld Rnk 12 / 214
Flag Rnk 2 / 991
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$173MWorld Rnk 155 / 226
Flag Rnk 47 / 1168
2023
ECONOMIC COMPLEXITY of Kuwait
0.21Rnk 53 / 132

About

Exports In 2023, Kuwait exported $23.7B in Refined Petroleum, making it the 12th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Kuwait. The main destination of Refined Petroleum exports from Kuwait are: United Kingdom ($3.28B), France ($2.24B), United Arab Emirates ($1.84B), Japan ($1.76B), and Singapore ($1.71B).

The fastest growing export markets for Refined Petroleum of Kuwait between 2022 and 2023 were Singapore ($1.3B), Ethiopia ($983M), and Egypt ($896M).

Imports In 2023, Kuwait imported $173M in Refined Petroleum, becoming the 155th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 47th most imported product in Kuwait. Kuwait imports Refined Petroleum primarily from: United Arab Emirates ($96.2M), Belgium ($19.8M), Oman ($8.78M), Germany ($5.04M), and United States ($4.87M).

The fastest growing import markets in Refined Petroleum for Kuwait between 2022 and 2023 were Belgium ($6.5M), United Arab Emirates ($5.55M), and Uzbekistan ($1.96M).

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)$23.7B
IMPORTS (2023)$173M
NET TRADE (2023)$23.5B

In 2023, Kuwait exported $23.7B in Refined Petroleum. The main destinations of Kuwait exports on Refined Petroleum were United Kingdom ($3.28B), France ($2.24B), United Arab Emirates ($1.84B), Japan ($1.76B), and Singapore ($1.71B).

In 2023, Kuwait imported $173M in Refined Petroleum, mainly from United Arab Emirates ($96.2M), Belgium ($19.8M), Oman ($8.78M), Germany ($5.04M), and United States ($4.87M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Kuwait WERE (2022 - 2023):
Singapore$1.3B (314%)
Ethiopia$983M (286%)
Egypt$896M (132%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Kuwait WERE (2022 - 2023):
South Korea-$1.57B (-100%)
Pakistan-$761M (-33.8%)
South Africa-$470M (-67.8%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Kuwait's main exporting competitors in Refined Petroleum were:
In 2023, Kuwait's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $670M
TOP IMPORT POTENTIALIndia+ $26M

Refined Petroleum’s highest export potential is United States. With an export gap of $670M.   Refined Petroleum’s highest import potential is India with an import gap of $26M.

See methodology.

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