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.jpg "UN Comtrade Data: Global Export & Import Value of Refined Petroleum Fuels (HS 2710)")
⛽ Global Trade in Refined Petroleum Fuels: A Look at UN Comtrade Data
The international trade of refined petroleum products—such as gasoline, diesel, and jet fuel—is a cornerstone of the global energy market. This category, often classified under the Harmonized System (HS) code 2710 in the UN Comtrade database as "Petroleum oils and oils from bituminous minerals, not crude," represents a massive segment of world merchandise trade.
Refined fuels are essential for transportation, industry, and power generation, making the trade flows highly sensitive to geopolitical events, refining capacity changes, and global energy demand shifts.
Key Market Dynamics (HS 2710)
According to recent data (primarily for 2023), the global trade in refined petroleum products demonstrated the following key trends:
Total Market Size: The global trade value for Refined Petroleum (HS 2710) reached approximately $931 billion in 2023.
Leading Exporters: Major exporting countries are often those with large refining capacities and strategic geographical locations. The United States, India, and Singapore consistently rank among the top global exporters.
Leading Importers: Key importers include large industrial economies and countries with insufficient domestic refining capacity to meet local demand, such as the United States (which is both a major exporter and importer due to regional trade), Singapore (a major trading and re-export hub), and Australia.
🌍 Top Exporters and Importers of Refined Petroleum (HS 2710)
The table below presents the top global exporters and importers of Petroleum oils (other than crude), or refined fuels (HS 2710), based on UN Comtrade statistics for the latest available comprehensive year (2023 or 2022/2023, depending on data availability). The values are typically reported in Billion US Dollars (Billion $).
| Rank | Top Exporters (2023 Estimate) | Export Value (Billion $) | Top Importers (2023 Estimate) | Import Value (Billion $) |
| 1 | United States | $107.0 | United States | $68.8 |
| 2 | Singapore | $55.9 | Singapore | $55.7 |
| 3 | India | $55.8 | Australia | $35.3 |
| 4 | Netherlands | (~ $48.3 - 2022) | Germany | (~ $50.2 - 2023 estimate) |
| 5 | Russia | (~ $44.6 - 2022) | Netherlands | (~ $38.0 - 2023 estimate) |
| 6 | China | (~ $38.6 - 2022) | Mexico | (~ $31.5 - 2023 estimate) |
| 7 | Saudi Arabia | (~ $35.1 - 2021) | France | (~ $28.6 - 2023 estimate) |
| 8 | South Korea (Rep. of Korea) | (~ $37.0 - 2021) | China | (~ $28.0 - 2023 estimate) |
Note: Values are rounded estimates based on the HS 2710 code, representing "Petroleum oils and oils from bituminous minerals, not crude; preparations, etc." Data compilation and exact values can vary slightly between reporting agencies and final data revisions. The data is largely sourced from UN Comtrade via trade statistics platforms.
Trade Balance
The trade data highlights significant global imbalances. Countries like Russia and India are noted for having large trade surpluses in this category, indicating their strong position as net exporters of refined products. Conversely, countries like Australia and Mexico exhibit substantial trade deficits, signifying their high reliance on imported refined fuels to satisfy domestic consumption.
🗺️ Global Export Value of Refined Petroleum Fuels (HS 2710) by Region (2023)
| Rank | Region | Export Value (Billion US$) | Global Share (%) |
| 1 | Asia | $471.6 | 48.4% |
| 2 | Europe | $324.8 | 33.3% |
| 3 | North America | $132.6 | 13.6% |
| 4 | Latin America | $21.5 | 2.2% |
| 5 | Africa | $20.5 | 2.1% |
| 6 | Oceania | $3.9 | 0.4% |
| World Total | $975.4 | 100.0% |
Note: Data represents estimates for Petroleum oils (other than crude) (HS 2710) for 2023.
📈 Highest Export Growth: Refined Petroleum Fuels (HS 2710)
(Change in Value and Percentage, 2022 to 2023)
This table highlights countries that reported the largest positive percentage change in export value for Petroleum oils (other than crude) (HS 2710) between 2022 and 2023, a period when the overall global market value declined.
| Rank | Country | Export Value (2023) | Percentage Growth (2022–2023) |
| 1 | Saudi Arabia | $36.7 Billion | +2,367,472% |
| 2 | Kuwait | $23.5 Billion | +5.1% |
| 3 | China | $48.4 Billion | +0.2% |
Note: The extreme percentage growth for Saudi Arabia likely reflects a major statistical reclassification or a base year with minimal exports, not a proportional one-year physical volume change.
🚢 Global Import Value of Refined Petroleum Fuels (HS 2710) by Region (2023)
| Rank | Region | Estimated Import Value (Billion US$) | Estimated Global Share (%) |
| 1 | Asia | $$$460 | 49.4% |
| 2 | Europe | $$$300 | 32.2% |
| 3 | North America | $$$145 | 15.6% |
| 4 | Rest of the World | $$$26 | 2.8% |
| World Total | $931 | 100.0% |
Note: The regional import values are estimates derived from UN Comtrade data for global trade in HS 2710 in 2023, based on major regional economic activity.
🚀 Highest Import Growth: Refined Petroleum Fuels (HS 2710) by Country
(Change in Value and Percentage, 2022 to 2023)
This table shows countries that recorded the most significant growth in the import value of Petroleum oils (other than crude) (HS 2710), such as gasoline, diesel, and jet fuel, from 2022 to 2023.
| Rank | Country | Import Value (2023) | Percentage Growth (YoY) |
| 1 | Ethiopia | $$$0.091 Billion | +171% |
| 2 | Turkey | $$$20.48 Billion | Highly Significant Growth |
| 3 | Rwanda | $$$0.72 Billion (2022) | +101% (2021–2022) |
Note: Global trade value for HS 2710 overall decreased by 14% in 2023, making positive growth in this sector highly unusual.
📝 Conclusion: Dynamics of Global Refined Petroleum Trade (HS 2710)
The analysis of global trade data for Refined Petroleum Fuels (HS 2710) reveals a highly concentrated and dynamic market driven by refining capacity, geopolitical events, and domestic consumption needs.
Market Size and Concentration:
The total global trade in refined fuels (exports and imports) stands at approximately $931 billion.
Trade is geographically concentrated, with Asia (nearly 50%) and Europe (over 30%) dominating both the export and import markets. These regions house the world's largest refining and trading hubs (e.g., Singapore, Netherlands).
Export Dynamics:
While the overall global export market value declined in 2022-2023, certain countries achieved significant growth, often due to new capacity or statistical reclassification.
The most dramatic reported increase came from Saudi Arabia (over 2,367,000% reported growth), and more moderate, sustainable growth was seen in key producers like Kuwait (+5.1%).
Import Dynamics:
Import growth highlights areas of rapidly expanding energy demand or significant supply shortfalls.
The highest percentage growth was seen in developing African nations like Ethiopia (+171%) and Rwanda (+101%).
Large, strategic economies like Turkey also saw highly significant growth, driven by shifts in global supply chains as importers adjust to geopolitical changes.
In summary, the trade of refined fuels in 2023 was characterized by strong regional market dominance by Asia and Europe, coupled with volatile and high-impact growth figures at the country level, reflecting a global energy system undergoing rapid adaptation.