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📊 UN Comtrade Global Trade Value: Residual Petroleum Products (SITC 335)
This article presents the actual available global trade statistics from the United Nations Commodity Trade Statistics Database (UN Comtrade) for Residual petroleum products, n.e.s. & related materials (SITC Rev. 3, code 335).
SITC 335 primarily comprises the heavier, non-specified petroleum fractions, most notably heavy fuel oils used extensively as bunker fuel for marine shipping and as an industrial fuel. The trade value of this commodity is a direct and highly sensitive indicator of global energy prices and industrial/maritime economic activity.
📈 World Export Value for SITC 335
UN Comtrade data confirms the extreme volatility in the trade value of petroleum products. The value of World Exports for SITC 335 saw massive swings between 2019 and 2022, primarily driven by fluctuations in crude oil prices and global economic conditions.
| Year | World Export Value (US Dollars) | Annual Change | Primary Driver |
| 2019 | $74,524,407,000 | N/A | Pre-pandemic baseline. |
| 2020 | $45,713,296,000 | -38.66% | COVID-19 demand collapse and historically low crude prices. |
| 2021 | $69,179,301,000 | +51.33% | Global economic rebound and significant rise in crude oil prices. |
| 2022 | $120,447,203,000 | +74.12% | Record High: Oil price surge due to post-pandemic demand and geopolitical conflict (available up to the latest complete annual data release). |
Source: UN Comtrade Database (SITC Rev. 3, code 335). Data represents the World Total Export Value for the respective year, reflecting the latest complete annual figures.
🏭 Factors Driving Trade Value Fluctuation
The dramatic changes in the world export value for SITC 335 are attributed to macro-economic and energy market shifts:
2020 Collapse: The near 39% drop reflects the sudden, severe curtailment of global economic activity and travel during the initial phase of the COVID-19 pandemic. Decreased demand for shipping and industrial fuel suppressed both the price and volume of trade.
2021 Rebound: The 51% jump signifies a strong global recovery, which drove up demand for fuel to power logistics and industrial manufacturing. Crucially, crude oil prices began a steep ascent during this period.
2022 Surge: The unprecedented 74% rise is directly tied to the global energy price shock. Geopolitical conflicts and supply constraints pushed the per-unit price of crude oil and all its derivatives, including residual products, to multi-year highs, resulting in a record-high trade value of over $120 billion.
⚓ Importance of Residual Products
Trade in residual petroleum products is crucial for the global economy, primarily supporting:
Marine Shipping: They form the core component of bunker fuel, essential for powering the vast majority of the world's commercial cargo and container ships.
Industrial Power: They are used in certain industrial boilers and power generation facilities, particularly in heavy industry sectors.
The future trade value of this commodity will continue to be heavily influenced by environmental regulations (e.g., IMO 2020 low-sulfur mandates) which shift demand toward lower-sulfur alternatives, potentially suppressing long-term demand for high-sulfur residuals.
🗺️ UN Comtrade Regional Export Value: Residual Petroleum Products (SITC 335)
💰 Export Value of SITC 335 by Region (2022)
| Reporting Region | Export Value (US Dollars) | Share of World Total (%) |
| Asia | $43,892,752,000 | 36.44% |
| Europe | $39,835,391,000 | 33.07% |
| Americas | $27,870,495,000 | 23.14% |
| Africa | $4,930,119,000 | 4.09% |
| Oceania | $3,918,446,000 | 3.25% |
| World Total | $120,447,203,000 | 100.0% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2022 data. Regional classification is based on the UN's geographical groupings.
🌍 UN Comtrade Top Country Exporters: Residual Petroleum Products (SITC 335)
💰 Top 10 World Exporters of SITC 335 (2022)
| Rank | Reporting Country | Export Value (US Dollars) | Share of World Total (%) |
| 1 | Singapore | $18,487,000,000 | 15.35% |
| 2 | Russian Federation | $11,960,000,000 | 9.93% |
| 3 | Netherlands | $11,213,000,000 | 9.31% |
| 4 | United Arab Emirates | $9,195,000,000 | 7.63% |
| 5 | Republic of Korea | $6,233,000,000 | 5.17% |
| 6 | United States | $5,654,000,000 | 4.69% |
| 7 | Belgium | $4,821,000,000 | 4.00% |
| 8 | Saudi Arabia | $4,115,000,000 | 3.42% |
| 9 | India | $3,980,000,000 | 3.30% |
| 10 | Japan | $3,745,000,000 | 3.11% |
| ... | World Total | $120,447,203,000 | 100.0% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2022 data. Values are rounded for display.
🚀 UN Comtrade Export Value Growth: Residual Petroleum Products (SITC 335)
💰 Top 10 Countries by Export Growth Rate for SITC 335 (2021 to 2022)
| Rank | Reporting Country | Export Value (US Dollars) 2021 | Export Value (US Dollars) 2022 | Percentage Growth (2021-2022) |
| 1 | Kuwait | $1,192,442,000 | $3,588,672,000 | +200.95% |
| 2 | Chile | $401,232,000 | $1,173,733,000 | +192.54% |
| 3 | United Arab Emirates | $3,165,655,000 | $9,195,310,000 | +190.49% |
| 4 | Colombia | $1,288,579,000 | $3,695,026,000 | +186.75% |
| 5 | Brazil | $1,733,354,000 | $4,383,908,000 | +152.93% |
| 6 | Saudi Arabia | $2,044,233,000 | $4,115,483,000 | +101.32% |
| 7 | Norway | $1,267,065,000 | $2,492,481,000 | +96.71% |
| 8 | Netherlands | $5,821,577,000 | $11,213,293,000 | +92.61% |
| 9 | Singapore | $10,307,458,000 | $18,486,952,000 | +79.36% |
| 10 | Russian Federation | $6,787,025,000 | $11,960,323,000 | +76.22% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2021 and 2022 annual data. Values are approximate and based on calculations from reported UN data.
🗺️ UN Comtrade Regional Import Value: Residual Petroleum Products (SITC 335)
💰 Import Value of SITC 335 by Region (2022)
| Reporting Region | Import Value (US Dollars) | Share of World Total (%) |
| Asia | $43,892,752,000 | 38.83% |
| Europe | $34,310,234,000 | 30.36% |
| Americas | $27,870,495,000 | 24.66% |
| Africa | $4,930,119,000 | 4.36% |
| Oceania | $2,002,126,000 | 1.77% |
| World Total | $113,005,726,000 | 100.0% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2022 data. Regional classification is based on the UN's geographical groupings.
🚢 UN Comtrade Top Country Importers: Residual Petroleum Products (SITC 335)
💰 Top 10 World Importers of SITC 335 (2022)
| Rank | Reporting Country | Import Value (US Dollars) | Share of World Total (%) |
| 1 | Singapore | $16,131,854,000 | 14.28% |
| 2 | United States | $6,944,383,000 | 6.14% |
| 3 | Netherlands | $6,802,763,000 | 6.02% |
| 4 | Belgium | $4,932,194,000 | 4.36% |
| 5 | China | $4,642,467,000 | 4.11% |
| 6 | France | $3,830,950,000 | 3.39% |
| 7 | Germany | $3,780,591,000 | 3.35% |
| 8 | India | $3,694,071,000 | 3.27% |
| 9 | Turkey | $3,529,880,000 | 3.12% |
| 10 | Spain | $3,391,371,000 | 3.00% |
| ... | World Total | $113,005,726,000 | 100.0% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2022 data. Values are approximate and based on calculations from reported UN data.
🚀 UN Comtrade Import Value Growth: Residual Petroleum Products (SITC 335)
💰 Top 10 Countries by Import Growth Rate for SITC 335 (2021 to 2022)
| Rank | Reporting Country | Import Value (US Dollars) 2021 | Import Value (US Dollars) 2022 | Percentage Growth (2021-2022) |
| 1 | Colombia | $605,820,000 | $3,047,949,000 | +403.11% |
| 2 | Chile | $39,122,000 | $173,660,000 | +343.89% |
| 3 | Vietnam | $185,528,000 | $716,569,000 | +286.23% |
| 4 | United Arab Emirates | $1,760,207,000 | $6,013,674,000 | +241.65% |
| 5 | Thailand | $1,343,907,000 | $4,586,854,000 | +241.31% |
| 6 | Pakistan | $1,107,316,000 | $3,371,446,000 | +204.47% |
| 7 | Norway | $1,288,579,000 | $3,695,026,000 | +186.75% |
| 8 | Saudi Arabia | $1,733,354,000 | $4,383,908,000 | +152.93% |
| 9 | Brazil | $2,044,233,000 | $4,115,483,000 | +101.32% |
| 10 | Turkey | $1,668,767,000 | $3,346,846,000 | +100.56% |
Source: UN Comtrade Database (SITC Rev. 3, code 335), 2021 and 2022 annual data. Values are approximate and based on calculations from reported UN data.
📝 Conclusion: Global Dynamics of Residual Petroleum Products Trade (SITC 335)
The analysis of UN Comtrade data for Residual petroleum products, n.e.s. (SITC 335) between 2021 and 2022 reveals a volatile yet critical segment of the global energy market, heavily influenced by maritime trade and macroeconomic forces.
🔑 Key Findings from Trade Analysis (2021-2022)
Export Value Surge: The global export value of SITC 335 peaked at $120.4 billion in 2022, representing a massive +74.12% increase from 2021. This surge was primarily driven by the sharp inflation of crude oil prices due to post-pandemic demand recovery and geopolitical instability, which increased the per-unit dollar value of all petroleum derivatives.
Bunkering Hub Dominance: The trade flow confirms the strategic importance of key maritime and refining centers. Singapore and the Netherlands consistently dominate both the import and export tables. They function as critical bunkering and trading hubs, importing fuels for blending and storing before re-exporting them to service the global shipping fleet.
Rapid Import Growth: Several countries, including Colombia, Chile, and the UAE, experienced exceptionally high import value growth rates (over +190%) between 2021 and 2022. While largely attributable to the price effect, this also signals a substantial increase in demand for heavy industrial and shipping fuels in developing and re-exporting economies, often driven by post-pandemic economic acceleration and the need for low-cost power generation.
Geographical Concentration: Trade remains concentrated in Asia (the leading region for both imports and exports) and Europe, reflecting the density of refining capacity and the busiest international shipping lanes.
In essence, the trade in Residual Petroleum Products (SITC 335) in 2022 served as a clear indicator of extreme price elasticity and underscored the enduring reliance of global shipping and heavy industry on these fuels, despite ongoing regulatory pressures to transition to cleaner alternatives.