Processed petroleum oils export import. Global sales for exports of refined petroleum oils from all countries totaled US$435.4 billion in 2020.
Overall, the value of exported refined petroleum oils decreased by an average -37.5% for all exporting countries since 2016 when refined oil shipments were valued at $510.5 billion. From 2019 to 2020, the value of global refined oil exports fell by -37.5%.
The 5 biggest exporters of processed petroleum oils in 2020 were the United States, Russia, Netherlands, Singapore and India. Collectively, that cohort of mineral fuel exporters account for 44.7% of the value for all globally exported refined petroleum oils.
Among continents, shippers in Asia delivered the highest dollar worth of refined oil exports during 2020 with shipments valued at $172.4 billion or 39.6% of the global total. In second place were European exporters at 38.8% while 16% of worldwide refined oil shipments originated from North America.
Smaller percentages came from Africa (2.7%), Latin America (2.3%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia and Papua New Guinea.
For research purposes, the 4-digit Harmonized Tariff System code prefix is 2710 for refined petroleum oils. That category excludes crude oil.
Refined Oil Exports by Country
Below are the 15 countries that exported the highest dollar value worth of refined oil during 2020.
- United States: US$60.7 billion (13.9% of refined oil exports)
- Russia: $45.4 billion (10.4%)
- Netherlands: $34.7 billion (8%)
- Singapore: $27.4 billion (6.3%)
- India: $26.2 billion (6%)
- China: $25.5 billion (5.9%)
- South Korea: $23.2 billion (5.3%)
- United Arab Emirates: $19.6 billion (4.5%)
- Malaysia: $12.8 billion (2.9%)
- Belgium: $10.5 billion (2.4%)
- Spain: $9.6 billion (2.2%)
- Germany: $9.5 billion (2.2%)
- Italy: $8.3 billion (1.9%)
- United Kingdom: $7.4 billion (1.7%)
- Canada: $7.2 billion (1.7%)
By value, the listed 15 countries shipped 75.3% of globally exported refined oils in 2020.
Among the top exporters, the mildest decreases compared to belong to: Malaysia (down -14.3%), Germany (down -24.6%), United States (down -30.6%) and Russia (down -32.2%).
Those countries that posted the severest declines in their exported refined oil sales year over year were: United Arab Emirates (down -45.3%), Italy (down -41.7%), South Korea (down -41%), Canada (down -40.8%) and Singapore (down -40.3%).