In 2023, China dominated the global import of petroleum oils, accounting for the largest share, while the United States and India followed. Noteworthy year-on-year changes include China’s slight increase in import share, while the US, Japan, and Germany showed a decline. Emerging markets like Zambia and Mozambique displayed notable percentage increases, while Brazil and Switzerland saw sharp declines.
Future trends to watch include China’s continued expansion in market share, potential recovery for developed nations like the US and Japan, and the increasing significance of smaller markets and emerging economies in import dynamics, driven by evolving industrial demands and energy needs.
Top countries in Import of Petroleum Oils, Oils from Bituminous Minerals Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 23.81 | 2023 | +3.25% | +1.43% | View data |
| 2 | 2 United States | 11.91 | 2023 | -3.31% | -4.62% | View data |
| 3 | 3 India | 10.72 | 2023 | +2% | +0.16% | View data |
| 4 | 4 South Korea | 7.24 | 2023 | +1.25% | -0.56% | View data |
| 5 | 5 Japan | 6.21 | 2023 | -2.03% | -3.62% | View data |
| 6 | 6 Germany | 3.59 | 2023 | -1.4% | -2.98% | View data |
| 7 | 7 Netherlands | 3.15 | 2023 | +0.52% | -1.05% | View data |
| 8 | 8 Spain | 3.01 | 2023 | +0.8% | -1.01% | View data |
| 9 | 9 Italy | 2.57 | 2023 | -1.36% | -3.13% | View data |
| 10 | 10 Singapore | 2.48 | 2023 | +0.91% | -0.87% | View data |
