UN Comtrade: In-Depth Look at Petroleum Gas (HS 2711)
Focusing solely on Petroleum Gas (HS 2711), this commodity represents a dynamic and critical segment of global energy trade, encompassing Liquefied Natural Gas (LNG), gaseous natural gas, propane, and butane.
Global Trade Value (2023)
The total global trade value for Petroleum Gas experienced significant volatility but remains one of the world's highest-value traded commodities.
2023 Global Trade Value: Approximately $558 Billion USD
Context: This figure was a notable decrease from the record-high values seen in 2022, which were inflated by global energy market shocks and spikes in natural gas prices.
Top Traded Sub-Products (HS 6-Digit)
The trade value is split across the different forms of the gas:
| HS 6-Digit Code | Product Description | 2023 Global Trade Value (Approx.) |
| 2711.21 | Gaseous Natural Gas | $222 Billion |
| 2711.11 | Liquefied Natural Gas (LNG) | $220 Billion |
| 2711.12 | Propane, liquefied | $79.5 Billion |
LNG and gaseous natural gas make up the vast majority of the trade value, reflecting their essential role in global power generation and industrial consumption.
UN Comtrade: Petroleum Gas (HS 2711) Trade Value by Region (2023)
This table summarizes the primary global trade flows for Petroleum Gas (HS 2711), including Liquefied Natural Gas (LNG), by major geographic and economic regions, based on data derived from the UN Comtrade database for 2023.
Regional Trade Flow Summary (Approximate 2023 Values)
| Rank | Region | Export Value (Approx. USD Billion) | Import Value (Approx. USD Billion) | Net Trade Balance (USD Billion) | Primary Trade Status |
| 1 | East Asia | $2.5 | $144.3 | -$141.8 | Strong Net Importer (High Demand) |
| 2 | Western Europe | $86.8 | $110.0 | -$23.2 | Net Importer (Driven by Energy Needs) |
| 3 | North America | $94.2 | $25.2 | +$69.0 | Strong Net Exporter (Shale Revolution) |
| 4 | Middle East | $85.1 | $10.5 | +$74.6 | Major Net Exporter (Resource Rich) |
| 5 | Oceania (Australia) | $50.8 | $0.1 | +$50.7 | Strong Net Exporter (LNG focus) |
| 6 | Eurasia (incl. Russia) | $40.0 | $1.5 | +$38.5 | Net Exporter (Pipeline and LNG) |
Note: Regional totals are approximate, as they require aggregation of numerous country-specific UN Comtrade records. The global trade value for HS 2711 in 2023 was approximately $558 Billion USD.
.jpg "Key Players in the Petroleum Gas Global Market (2023)")
Key Players in the Petroleum Gas Global Market (2023)
The market for Petroleum Gas is characterized by a high degree of concentration among a few major producers (exporters) and massive consumer markets (importers).
Top 3 Exporters (Trade Surplus)
These countries are the primary sources driving the global supply, often with significant infrastructure for pipeline gas or LNG liquefaction.
| Rank | Country | Export Value (2023, USD Billion) | Key Role |
| 1 | United States | $80.7 | Leading global LNG exporter, leveraging its shale gas revolution. |
| 2 | Qatar | $71.4 | Major LNG producer, a long-time cornerstone of Asian and global gas supply. |
| 3 | Norway | $70.1 | Dominant supplier of pipeline natural gas to Europe. |
Top 3 Importers (Trade Deficit)
These countries represent the largest demand centers for global gas trade, importing the gas for residential heating, power generation, and industry.
| Rank | Country | Import Value (2023, USD Billion) | Key Role |
| 1 | China | $83.1 | The world's largest overall gas importer, driving demand for LNG. |
| 2 | Japan | $52.2 | Long-time major LNG consumer, primarily for power generation. |
| 3 | Italy | $46.4 | Key European import hub, critical for replacing pipeline gas supply from Russia. |
UN Comtrade: Petroleum Gas (HS 2711) Trade Value Growth and Decline by Country (2022 to 2023)
This table summarizes the largest positive and negative annual growth rates for the value of Petroleum Gas trade, highlighting the high volatility and structural changes in the global market.
A. Export Value (Supply) Changes
Focusing on countries with the most significant positive growth (i.e., new capacity/market share) or decline (i.e., severe price or volume loss):
| Rank (by Growth Rate) | Country | 2023 Export Value (USD Billion) | Annual Growth Rate (2022-2023) | Key Market Driver |
| Top Growth: Oman | Oman | 11.0 (Estimate) | Up 35.3 percent | Driven by new LNG production capacity increasing physical export volumes. |
| 2nd Growth: Mozambique | Mozambique | N/A | Up 19.8 percent | Start-up of new Floating LNG (FLNG) projects entering the export market. |
| Top Decline: Belgium | Belgium | 16.7 | Down 67.0 percent | Severe value drop due to the collapse of high European hub prices and reduced re-export volumes. |
| Major Decline: Norway | Norway | 70.1 | Down 57.1 percent | Value loss due to the normalization of European natural gas prices from their extreme 2022 highs. |
| Major Decline: Russia | Russia | 40.0 | Down 50.5 percent | Value decline from lower prices and the closure of major pipeline routes to the EU. |
B. Import Value (Demand) Changes
Focusing on countries with the most significant shifts in their import bill.
| Rank (by Value) | Country | 2023 Import Value (USD Billion) | Annual Growth Rate (2022-2023) | Key Market Driver |
| High Volume: China | 83.1 | Large Negative Value Change | Import bill lowered significantly as the average price for LNG dropped, despite high import volumes. | |
| High Volume: Japan | 52.2 | Large Negative Value Change | Similar to China; lower global LNG prices reduced the total cost of imports. | |
| High Growth: Thailand | N/A | N/A | Up ~40 percent (in Volume) | One of the highest physical growth markets in Asia, rapidly increasing LNG imports for power needs. |
| High Growth: Germany | N/A | N/A | High Positive Value Change | Aggressive ramp-up of LNG infrastructure to secure non-Russian gas, leading to a large increase in import value and volume. |
%20-%202023%20Value.jpg "UN Comtrade: Top Exporters and Importers of Liquefied Petroleum Gases (LPGs) - 2023 Value")
UN Comtrade: Top Exporters and Importers of Liquefied Petroleum Gases (LPGs) - 2023 Value
The following tables present the leading countries in the trade of the principal refinery-associated products within the Petroleum Gas (HS 2711) category: Liquefied Propane (HS 2711.12) and Liquefied Butanes (HS 2711.13), based on 2023 trade values.
A. Liquefied Propane (HS 2711.12) Trade Value
| Rank | Top Exporters | 2023 Export Value (USD Billion) | Rank | Top Importers | 2023 Import Value (USD Billion) |
| 1 | Qatar | 31.6 – 59.2 | 1 | China | 15.7 – 15.9 |
| 2 | United States | 20.6 – 25.2 | 2 | Korea, Rep. | 3.9 – 12.8 |
| 3 | United Arab Emirates (UAE) | 5.6 – 35.2 | 3 | India | 5.6 |
| 4 | Saudi Arabia | 9.5 | 4 | Japan | 5.4 – 6.1 |
| 5 | Canada | 2.8 | 5 | European Union | 6.8 |
B. Liquefied Butanes (HS 2711.13) Trade Value
| Rank | Top Exporters | 2023 Export Value (USD Billion) | Rank | Top Importers | 2023 Import Value (USD Billion) |
| 1 | United States | 6.0 | 1 | India | 5.9 |
| 2 | United Arab Emirates (UAE) | 4.1 | 2 | China | 3.8 |
| 3 | Qatar | 2.3 | 3 | Indonesia | 1.7 |
| 4 | Saudi Arabia | N/A | 4 | South Korea | N/A |
| 5 | Kuwait | N/A | 5 | Mexico | N/A |
📊 UN Comtrade: Trade Value Growth Rates for Primary Refinery-Associated Petroleum Gases (2022 to 2023)
This table focuses on the growth and decline in trade value for Liquefied Propane (HS 2711.12) and Liquefied Butanes (HS 2711.13), which are the main refinery-associated products within the Petroleum Gas category (HS 2711). The data highlights shifts in production and market share between 2022 and 2023.
A. Liquefied Propane (HS 2711.12) - Export Growth/Decline
The global trade value for Propane increased by 16.6% in 2023, driven primarily by strong U.S. supply and Asian petrochemical demand.
| Country | 2023 Export Value (USD Billion) | Annual Change in Export Value (2022-2023) | Key Market Driver |
| United States | 25.2 | High Positive Growth | Record production capacity expansion, focusing supply on high-demand Asian petrochemical markets. |
| Saudi Arabia | 9.5 | Significant Decline in Value | Value fell due to a reduction in crude oil output and a subsequent lower volume of Propane exports. |
| Qatar | 31.6 | Value Stable | High volume is consistent; stable, long-term contracts minimized the effect of short-term price drops. |
| China (Importer) | 15.9 | High Import Volume Growth | Largest destination market; high demand for Propane as a petrochemical feedstock. |
B. Liquefied Butanes (HS 2711.13) - Value Decline
The global trade value for Butanes decreased by 29.6% in 2023, primarily due to falling market prices from the 2022 peak.
| Country | 2023 Trade Value (USD Billion) | Annual Change in Trade Value (2022-2023) | Key Market Driver |
| United States (Exporter) | 6.0 | Large Negative Value Change | Export value fell sharply due to lower average prices, despite high volumes. |
| India (Importer) | 5.9 | Large Negative Value Change | Import bill significantly reduced due to the global drop in Butanes/LPG prices. |
| China (Importer) | 3.83 | Large Negative Value Change | Lower global prices meant less spending on the large required import volumes. |
.jpg "Synthesis of UN Comtrade Data for Petroleum Gas (HS 2711)")
Conclusion: Synthesis of UN Comtrade Data for Petroleum Gas (HS 2711)
Based on the UN Comtrade data analysis for Petroleum Gas (HS 2711), the global market is characterized by extreme price-driven volatility and a rapid structural shift driven by the expansion of Liquefied Natural Gas (LNG) and U.S. shale production.
Key Findings Summarized
| Trade Segment | 2023 Global Trade Value (Approx.) | Key Dynamic (2022-2023) | Leading Countries |
| Total Petroleum Gas (HS 2711) | $558 Billion | Sharp Decline (from $881B in 2022) | Exporters: USA, Qatar, Norway. Importers: China, Japan. |
| Gaseous/LNG (Primary Component) | >$440 Billion | Volatility & Re-shaping | Asia (Import) and the US/Middle East (Export) drive the entire market. |
| Refinery Gases (Propane/Butanes) | >$95 Billion | Propane Growth, Butane Decline | USA (Growing Exporter), China (Growing Importer). |
1. Market Volatility and Price Normalization
The most significant finding is the massive 36.7% drop in the total trade value of HS 2711 in 2023 compared to 2022. This was not primarily a drop in physical volume, but a correction of global prices from the geopolitical peaks of 2022.
The decline sharply impacted value-driven exporters like Norway and Russia, who saw their export values drop by over 50%.
2. Structural Growth and Market Leadership
United States: The U.S. cemented its role as a global energy powerhouse. Its export value for total Petroleum Gas ($80.7B) and Propane ($25.2B) showed strong positive growth, as increased physical production and capacity expansion successfully overcame the global price decline.
Asia's Demand Sink: East Asian countries, led by China ($83.1B) and Japan ($52.2B), remain the dominant global importers, determining long-term growth for LNG and refinery gases.
3. Emerging Players
New suppliers like Oman (Up 35.3%) and Mozambique (Up 19.8%) demonstrated the highest percentage growth rates, signaling the successful activation of new LNG/LPG projects and the continued diversification of the global supply chain.
In conclusion, while the value of global petroleum gas trade remains colossal, the period between 2022 and 2023 marked a definitive shift from a supply market defined by crisis pricing to one shaped by American capacity growth and Asian demand resilience.