The top importers of mineral fuels and oils in 2023 are China ($176.54B), the United States ($163.42B), and Japan ($110.88B). From 2022 to 2023, China's imports increased by 5.2%, while the United States saw a minimal rise of 0.8%. Japan experienced a 3.4% growth in imports. Over the last five years, China has demonstrated a CAGR of 4.5%, the United States 3.0%, and Japan 2.5%.
Future trends to watch include potential shifts in China's import strategy as it seeks to diversify energy suppliers and increase renewable energy sources. US import patterns might change with energy policy adjustments, while Japan may continue focusing on energy efficiency and alternative energy sources to reduce dependency.
Top countries in Top Importers of Mineral Fuels and Oils
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 176,540 | 2016 | |
| 2 | 2 United States | 163,420 | 2016 | |
| 3 | 3 Japan | 110,880 | 2016 | |
| 4 | 4 India | 89,310 | 2016 | |
| 5 | 5 South Korea | 81,760 | 2016 | |
| 6 | 6 Germany | 75,500 | 2016 | |
| 7 | 7 Netherlands | 52,460 | 2016 | |
| 8 | 8 Singapore | 51,080 | 2016 | |
| 9 | 9 France | 47,090 | 2016 | |
| 10 | 10 Italy | 41,140 | 2016 |
