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2023
Exports $107BWorld Rnk 1 / 214
Flag Rnk 2 / 1217
2023
Destination $1.59B Mexico
2022 - 2023
FASTEST GROWING MARKET $1.59BUnited Kingdom
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $68.8BWorld Rnk 1 / 226
Flag Rnk 8 / 1215
2023
Origin $1.16B Canada
2022 - 2023
FASTEST GROWING ORIGIN $1.16BIndia
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $107B in Refined Petroleum, making it the 1st largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in United States. The main destination of Refined Petroleum exports from United States are: Mexico ($29.7B), Canada ($13.5B), Chile ($6.77B), Brazil ($5.04B), and Peru ($5.02B).

The fastest growing export markets for Refined Petroleum of United States between 2022 and 2023 were United Kingdom ($1.59B), Poland ($522M), and Trinidad and Tobago ($459M).

Imports In 2023, United States imported $68.8B in Refined Petroleum, becoming the 1st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 8th most imported product in United States. United States imports Refined Petroleum primarily from: Canada ($13.1B), India ($5.15B), South Korea ($4.63B), Mexico ($4.62B), and Netherlands ($3.82B).

The fastest growing import markets in Refined Petroleum for United States between 2022 and 2023 were India ($1.16B), Brazil ($532M), and Iraq ($450M).

COMPANIES In 2023, leading companies such as Dole Fresh Fruit (7.46k), TE Connectivity (228), and Disney Cruise Line (86) were at the forefront of shipping Refined Petroleum to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Refined Petroleum exports accounted up to $9.93B and imports accounted up to $3.5B, resulting in a positive trade balance of $6.43B. Between November 2023 and November 2024 the exports of United States'   Refined Petroleum have increased by $313M (3.25%) from $9.62B to $9.93B, while imports decreased by $-951M (-21.4%) from $4.45B to $3.5B.

Destinations In November 2024, Refined Petroleum were exported mostly to Mexico ($2.79B), Canada ($890M), Netherlands ($642M), Ecuador ($472M), and Chile ($452M), and were imported mostly from Canada ($907M), Mexico ($336M), South Korea ($316M), India ($260M), and Netherlands ($215M).

Growth In November 2024, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Mexico ($897M or 40.6%), Costa Rica ($235M or 207%), and Argentina ($166M or 347%). In November 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Saudi Arabia ($-167M or -50.7%), Qatar ($-106M or -38.2%), and South Korea ($-69.9M or -20.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$313M(3.25%)
IMPORT GROWTH (November 2023 - November 2024)$-951M(-21.4%)
MAIN EXPORTER (November 2024)Texas$6.27B
MAIN DESTINATION (November 2024)Mexico$2.79B

This section shows Refined Petroleum's exports and imports data at subnational level for United States. 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)$107B
IMPORTS (2023)$68.8B
NET TRADE (2023)$37.8B

In 2023, United States exported $107B in Refined Petroleum. The main destinations of United States exports on Refined Petroleum were Mexico ($29.7B), Canada ($13.5B), Chile ($6.77B), Brazil ($5.04B), and Peru ($5.02B).

In 2023, United States imported $68.8B in Refined Petroleum, mainly from Canada ($13.1B), India ($5.15B), South Korea ($4.63B), Mexico ($4.62B), and Netherlands ($3.82B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR United States WERE (2022 - 2023):
United Kingdom$1.59B (86.5%)
Poland$522M (649%)
Trinidad and Tobago$459M (454%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY United States WERE (2022 - 2023):
Mexico-$8.92B (-23.1%)
Brazil-$8.24B (-62.1%)
Chile-$3.76B (-35.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Refined Petroleum were:
Singapore $55.9B
India $55.8B
In 2023, United States's main importing competitors in Refined Petroleum were:
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 POTENTIALCanada+ $1.7B
TOP IMPORT POTENTIALCanada+ $4.2B

Refined Petroleum’s highest export potential is Canada. With an export gap of $1.7B.   Refined Petroleum’s highest import potential is Canada with an import gap of $4.2B.

See methodology.

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