2023
Exports
$4.94BWorld Rnk 35 / 214
Flag Rnk 22 / 1189
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$31.9BWorld Rnk 5 / 226
Flag Rnk 2 / 1209
2023
ECONOMIC COMPLEXITY of Mexico
1.09Rnk 25 / 132

About

Exports In 2023, Mexico exported $4.94B in Refined Petroleum, making it the 35th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 22nd most exported product in Mexico. The main destination of Refined Petroleum exports from Mexico are: United States ($4.62B), Singapore ($154M), Morocco ($22.8M), Colombia ($18.9M), and Guatemala ($18M).

The fastest growing export markets for Refined Petroleum of Mexico between 2022 and 2023 were Singapore ($74.7M), Morocco ($22.8M), and Spain ($10.9M).

Imports In 2023, Mexico imported $31.9B in Refined Petroleum, becoming the 5th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Mexico. Mexico imports Refined Petroleum primarily from: United States ($29.7B), China ($536M), Singapore ($438M), Japan ($432M), and Netherlands ($235M).

The fastest growing import markets in Refined Petroleum for Mexico between 2022 and 2023 were Singapore ($433M), China ($296M), and Japan ($74.1M).

COMPANIES In 2024, leading companies such as Schaeffler Group (3) and NOURYON FUNCTIONAL CHEMICALS LLC (1) were at the forefront of shipping Refined Petroleum from Mexico to the United States.

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)$4.94B
IMPORTS (2023)$31.9B
NET TRADE (2023)-$26.9B

In 2023, Mexico exported $4.94B in Refined Petroleum. The main destinations of Mexico exports on Refined Petroleum were United States ($4.62B), Singapore ($154M), Morocco ($22.8M), Colombia ($18.9M), and Guatemala ($18M).

In 2023, Mexico imported $31.9B in Refined Petroleum, mainly from United States ($29.7B), China ($536M), Singapore ($438M), Japan ($432M), and Netherlands ($235M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Mexico WERE (2022 - 2023):
Singapore$74.7M (94.6%)
Morocco$22.8M (3.89M%)
Spain$10.9M (12.2k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Mexico WERE (2022 - 2023):
United States-$835M (-15.3%)
Brazil-$19.4M (-89.7%)
Guatemala-$4.28M (-19.2%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Mexico's main exporting competitors in Refined Petroleum were:
In 2023, Mexico'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+ $1.07B
TOP IMPORT POTENTIALChina+ $402M

Refined Petroleum’s highest export potential is United States. With an export gap of $1.07B.   Refined Petroleum’s highest import potential is China with an import gap of $402M.

See methodology.

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