In 2023, China was the largest importer of crude petroleum oils and oils obtained from bituminous minerals, valued at $116.66 billion. The United States followed at $108.07 billion, while India, Japan, and South Korea imported $60.87 billion, $50.77 billion, and $44.29 billion, respectively. Europe's top importers included Germany ($28.72 billion), Netherlands ($21.58 billion), Italy ($18.89 billion), Spain ($18.73 billion), and France ($17.91 billion).
Key trends to watch:
- China and India's demand growth may continue, driven by industrial and economic expansion.
- The U.S. might maintain high import levels due to its industrial needs and energy consumption patterns.
- European importers may seek alternative sources amid geopolitical tensions impacting supply chains.
- Renewable energy adoption could influence long-term import strategies worldwide.
Top countries in Top Importers of Crude Petroleum Oils and Oils Obtained From Bituminous Minerals
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 116,660 | 2016 | |
| 2 | 2 United States | 108,070 | 2016 | |
| 3 | 3 India | 60,870 | 2016 | |
| 4 | 4 Japan | 50,770 | 2016 | |
| 5 | 5 South Korea | 44,290 | 2016 | |
| 6 | 6 Germany | 28,720 | 2016 | |
| 7 | 7 Netherlands | 21,580 | 2016 | |
| 8 | 8 Italy | 18,890 | 2016 | |
| 9 | 9 Spain | 18,730 | 2016 | |
| 10 | 10 France | 17,910 | 2016 |
