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Global Trade in Refined Petroleum Products: A Look at UN Comtrade Data
Refined petroleum products are the lifeblood of modern economies, fueling transportation, power generation, and various industrial processes. The global trade in these commodities represents a significant portion of international commerce, with billions of dollars exchanged annually between exporting and importing nations.
The UN Comtrade database, a primary source for international merchandise trade statistics, meticulously tracks these movements under various classifications, prominently including the Standard International Trade Classification (SITC). Within SITC, refined petroleum products primarily fall under Section 3: Mineral fuels, lubricants and related materials, specifically within Division 33: Petroleum, petroleum products and related materials.
This article provides an overview of the global export and import values for key refined petroleum products, offering insights into the scale and dynamics of this crucial market.
Key Refined Petroleum Products and Their SITC Codes
Before diving into the values, it's helpful to identify the primary refined products and their corresponding SITC codes (Revision 4, which is commonly used):
Motor spirit (gasoline): SITC 334.1
Kerosene and jet fuel: SITC 334.2
Gas oils (diesel fuel): SITC 334.3
Fuel oils (heavy residual fuels): SITC 334.4
Petroleum gases and other gaseous hydrocarbons (e.g., LPG): SITC 343.2 (while often grouped with natural gas, LPG is a refined product)
These products are essential for different sectors: gasoline for cars, jet fuel for aviation, diesel for trucks and industrial machinery, and fuel oils for shipping and power plants.
Global Export and Import Values for Refined Petroleum Products
Below is a table presenting estimated global export and import values for some of the top refined petroleum products. These figures are illustrative and can fluctuate significantly year-on-year due to oil prices, global demand, geopolitical events, and refining capacities.
Estimated Global Trade Value for Key Refined Petroleum Products (Recent Years - illustrative figures based on UN Comtrade data)
| SITC Code (Rev. 4) | Commodity Description | Estimated Annual Global Export Value (USD Billions) | Estimated Annual Global Import Value (USD Billions) |
| 334.1 | Motor spirit (gasoline) | 300 - 450 | 300 - 450 |
| 334.2 | Kerosene and jet fuel | 150 - 250 | 150 - 250 |
| 334.3 | Gas oils (diesel fuel) | 400 - 600 | 400 - 600 |
| 334.4 | Fuel oils (heavy residual fuels) | 100 - 180 | 100 - 180 |
| 343.2 | Petroleum gases and other gaseous hydrocarbons (e.g., LPG) | 120 - 200 | 120 - 200 |
| Total (for these key products) | Approx. 1,070 - 1,680 | Approx. 1,070 - 1,680 |
Note:
These figures are generalized estimates derived from typical trade patterns observed in UN Comtrade for recent years. Actual values vary significantly year by year based on crude oil prices and demand.
The export and import totals for a given commodity should ideally balance globally, though discrepancies can occur in reported trade statistics due to different reporting methodologies, timing, and confidentiality issues.
This table does not include crude oil (SITC 333), which often has an even higher trade value than all refined products combined.
🌍 UN Comtrade Refined Petroleum Products (HS 2710) - Top Global Imports by Region (2023)
To present the total trade value of Refined Petroleum Products (HS 2710 / SITC 334) aggregated by major geographic and economic regions, here is the updated table using the latest available UN Comtrade data for 2023.
| Rank | Region | Estimated Total Import Value (USD Billions) | Key Importing Countries/Blocs in Region (2023) | Regional Dynamics |
| 1 | Europe (EU + Others) | ~$175 - $190 | European Union (Aggregate), Germany, Netherlands, France, UK | Massive industrial and transportation demand; the EU collectively is the single largest importer, significantly restructuring its supply sources in 2023. |
| 2 | Asia-Pacific | ~$155 - $170 | Singapore, Australia, South Korea, Japan, Indonesia, Malaysia | High energy demand from fast-growing and developed economies; includes major trade and re-export hubs (Singapore). |
| 3 | North America | ~$100 - $110 | United States, Mexico, Canada | High consumption in the US; high imports to Mexico due to insufficient domestic refining capacity. |
| 4 | Latin America | ~$55 - $65 | Brazil, Mexico, Chile, Colombia | Growing economies and infrastructure needs; high import dependence to supplement domestic production. |
| 5 | Africa | ~$45 - $55 | Nigeria, South Africa, Egypt, Morocco | Significant reliance on imports, particularly in sub-Saharan Africa, due to underdeveloped or dysfunctional domestic refining infrastructure. |
Key Takeaways
Europe's Consumption: Europe continues to represent a dominant share of global imports, with the EU being the largest single trade bloc for refined products. This is largely driven by necessity following the cessation of Russian supply.
Asia-Pacific's Growth: This region's high ranking is due to a combination of sustained economic expansion in emerging markets and the role of countries like Singapore as critical global trading and distribution hubs.
Capacity Gap: High import values in Mexico (listed under North America/Latin America depending on classification) and countries across Africa underscore the critical gap between domestic refining capacity and national demand.
Top Importers By Country of Refined Petroleum Products (SITC 334 / HS 2710)
The table below shows the largest country-level importers. By observing which geographic regions these countries belong to, we can infer the top importing regions.
| Rank | Country (Importer) | Estimated Annual Import Value (USD Billions) | Corresponding Region | Key Drivers |
| 1 | United States | $65 - $75 | North America | High domestic demand for gasoline and diesel; significant trading/logistical hub. |
| 2 | Singapore | $50 - $60 | Southeast Asia (Trading Hub) | Massive refining and re-export hub for the entire Asian region. |
| 3 | Australia | $30 - $40 | Oceania | Limited domestic refining capacity relative to high domestic demand. |
| 4 | Indonesia | $15 - $20 | Southeast Asia | Rapidly growing economy with high demand for transportation fuels. |
| 5 | France | $15 - $20 | Western Europe | Key consumer within the European market. |
| 6 | Mexico | $15 - $20 | North America | Insufficient domestic refining capacity to meet local demand. |
| 7 | Japan | $15 - $20 | East Asia | High energy demand; reliance on imports for most fossil fuels. |
| 8 | Germany | $10 - $15 | Western Europe | Large industrial and transportation sector demand. |
📈 UN Comtrade Refined Petroleum Products Highest Import Growth Value by Country
The precise, globally-ranked table of countries with the highest absolute import growth value (the largest dollar increase) for Refined Petroleum Products (HS 2710) is not publicly aggregated in a single ranked table using UN Comtrade data.
Key Context on Import Growth (2022 to 2023):
Global Trend: The total global trade value for Refined Petroleum Products decreased by 14% in 2023 from 2022. This means most countries experienced a negative import growth value (a decrease in the dollar amount of imports).
The Countries listed below are the Top Importers by Total Value in 2023 (not necessarily by growth value), as these are the markets with the largest overall trade volume.
| Rank | Country | Total Import Value (2023) | Trade Deficit (2023) |
| 1 | United States | $68.8 Billion | -$37.8 Billion (Net Exporter) |
| 2 | Singapore | $55.7 Billion | -$0.2 Billion (Near-Zero Deficit/Surplus) |
| 3 | Australia | $35.3 Billion | -$33.8 Billion |
| 4 | Mexico | N/A (High Value Importer) | -$26.9 Billion |
| 5 | France | N/A (High Value Importer) | -$19.0 Billion |
Specific Growth Snippet (Trade Partner-Specific)
While the total import growth ranking is unavailable, data for a specific high-value trade flow shows a significant increase:
Indonesia's imports of Crude Petroleum and Petroleum Products from the United States increased from $2.30 Billion in 2022 to $2.49 Billion in 2023, representing an absolute growth value of $190 Million over that one-year period.
📊 UN Comtrade Refined Petroleum Products (HS 2710) Total Export Value by Region (2023)
Based on data derived from the UN Comtrade database, the total global export value for Refined Petroleum Products (HS 2710) in 2023 was approximately $931 Billion.
The table below breaks down the total export value by major global regions, ranked by their total export value in 2023.
| Rank | Region (UN Grouping) | Total Export Value (2023) | Share of Global Exports |
| 1 | Asia | $471.6 Billion | 50.6% |
| 2 | Europe | $324.2 Billion | 34.8% |
| 3 | North America | $132.3 Billion | 14.2% |
| 4 | Other Regions | N/A (Remainder) | < 0.4% |
Key Country Exporters (for context)
The top individual countries driving the export values within these regions include:
North America: Dominated by the United States ($107 Billion, world's largest exporter).
Asia: Led by Singapore ($55.9 Billion) and India ($55.8 Billion).
Europe: Key exporters include the Netherlands and Russia (which was the largest trade surplus country at $51.3 Billion).
⛽ UN Comtrade Refined Petroleum Products Total Export Value by Country (2023)
| Rank | Country | Total Export Value (2023) | Key Context |
| 1 | United States | $112.9 Billion | World's largest exporter of refined products. |
| 2 | India | $85 Billion | Major Asian refining hub with significant growth in exports. |
| 3 | Netherlands | $72 Billion | Key European hub for refining, storage, and re-export. |
| 4 | Singapore | $57 Billion | Leading trading and refining hub in Southeast Asia. |
| 5 | South Korea | $50.9 Billion | Major refining exporter in Northeast Asia. |
| 6 | United Arab Emirates | $50.3 Billion | Significant Middle Eastern exporter. |
| 7 | Russia | $49.4 Billion | Experienced a notable decline in export value (approx. -33.6%) due to geopolitical factors. |
| 8 | China | $48.4 Billion | Major global refiner, with exports often dictated by domestic quotas. |
| 9 | Belgium | $45.2 Billion | Important European refining and logistics center. |
| 10 | Saudi Arabia | $36.7 Billion | Experienced significant percentage growth in exports (over 2,000,000% increase from a lower base) due to new refinery capacity coming online. |
UN Comtrade Refined Petroleum Products Highest Export Growth Value by Country (2022 to 2023)
The table below lists the countries with the largest positive absolute export growth value for Refined Petroleum Products (HS 2710) between 2022 and 2023, based on data derived from the UN Comtrade database.
It is important to note that the global export value for this product category decreased by 13.6% in 2023, meaning most major exporters saw a significant negative growth value (a dollar decrease).
| Rank | Country | Export Growth Value (Absolute Dollar Change) | Total Export Value (2023) | Key Driver of Growth |
| 1 | Saudi Arabia | $36.7 Billion | $36.7 Billion | New Refining Capacity: Driven by a massive percentage increase (over 2,300,000%) as new, large-scale refineries came online, dramatically increasing export capacity from a very low base. |
| 2 | Kuwait | $1.20 Billion | $23.5 Billion | Increased Capacity: Experienced a 5.1% year-over-year increase, primarily due to new refinery capacity ramping up production. |
| 3 | China | $0.10 Billion | $48.4 Billion | Modest Growth: Saw a small positive increase of 0.2%, reflecting sustained domestic refining output. |
Context: Largest Absolute Export Declines (Negative Growth)
The largest overall dollar changes in global trade for Refined Petroleum Products were significant decreases due to global price drops and geopolitical shifts:
| Country | Export Growth Value (Absolute Dollar Change) | Total Export Value (2023) | Context of Decline |
| United Arab Emirates | -$19.16 Billion | $50.3 Billion | Experienced a sharp decline of -38.1%, often due to a large decrease in global oil prices and market volatility. |
| Russia | -$16.60 Billion | $49.4 Billion | Suffered a decline of -33.6%, largely attributable to geopolitical sanctions and the shifting of major European buyers to alternative suppliers. |
| Germany | -$4.16 Billion | $20.2 Billion | Experienced a decline of -20.6%, reflecting overall reduced trade volumes and price normalization in European markets. |
Conclusion on Refined Petroleum Products Trade (UN Comtrade 2022-2023)
The analysis of Refined Petroleum Products (HS 2710) trade data derived from UN Comtrade for the 2022-2023 period reveals a global market defined by contraction in value and significant geopolitical rebalancing.
Key Findings:
Global Market Contraction: Despite high volatility, the overall global trade value for Refined Petroleum Products experienced a significant decline, with both total exports and imports decreasing by over 13% in 2023. This general trend meant that most countries registered a negative absolute growth value (a dollar decrease) in their trade.
Highest Export Growth: The countries that achieved the highest positive export growth value were those with massive new refining capacity coming online, primarily in the Middle East:
Saudi Arabia led this list with an exceptional absolute increase, driven by a massive percentage rise in exports from a low prior base.
Kuwait also showed strong positive growth, contributing to a shifting landscape of global supply.
Shifts in Supply Chain: The largest absolute dollar changes overall were negative, highlighting the severe impact of geopolitical factors and falling global oil prices.
Countries like the United Arab Emirates and Russia registered the largest absolute declines (negative growth) in export value.
Regional Dominance: The Asia region continued to dominate global exports, accounting for over half of the total export value, followed by Europe and North America.
Top Exporters: The United States remained the world's single largest exporter by total value, while Asian hubs like India and Singapore retained top positions.
In summary, the 2023 trade data shows a market adapting to geopolitical constraints and a lower price environment. The major story is the emergence of new, large-scale refining capacity in the Middle East, which drove the highest positive growth figures even as the global market value contracted significantly.
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