Overview This page contains the latest trade data of Crude Petroleum. In 2020, Crude Petroleum were the world's 3rd most traded product, with a total trade of $640B. Between 2019 and 2020 the exports of Crude Petroleum decreased by -35.5%, from $992B to $640B. Trade in Crude Petroleum represent 3.82% of total world trade.
Crude Petroleum are a part of Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral.... They include Petroleum oils, oils from bituminous minerals, crude.
Exports In 2020 the top exporters of Crude Petroleum were Saudi Arabia ($95.7B), Russia ($74.4B), United States ($52.3B), Canada ($47.2B), and Iraq ($45.2B).
Imports In 2020 the top importers of Crude Petroleum were China ($150B), United States ($75.1B), India ($59B), South Korea ($42.2B), and Japan ($38.4B).
Tariffs In 2018 the average tariff for Crude Petroleum was 1.84%, making it the 1250th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Crude Petroleum are Cayman Islands (22%), Bhutan (19.6%), Comoros (18.9%), Sao Tome and Principe (10%), and Anguilla (10%). The countries with the lowest tariffs are Angola (0%), Cote d'Ivoire (0%), Egypt (0%), Ghana (0%), and Guinea (0%).
Ranking Crude Petroleum ranks 1020th in the Product Complexity Index (PCI).