Refined Oil Exports by Country

Texan Oil Refinery

Texan Oil Refinery

Global sales from refined oil exports by country amounted to US$504.9 billion in 2016.

Overall, the value of refined oil exports were down by an average -50.3% for all exporting countries since 2012 when refined oil shipments were valued at $1.015 trillion. Year over year, the value of global refined oil exports dipped -15.6% from 2015 to 2016.

Among continents, European countries generated the highest dollar worth of refined oil exports during 2016 with shipments valued at $206.9 billion or 41% of the global total. In second place were Asian exporters at 39.1% while 14.8% of worldwide refined oil shipments originated from North America.

Latin America (excluding Mexico) and the Caribbean accounted for 2.3% of global refined petroleum shipments, the same percentage achieved by African exporters. Led by Australia, Papua New Guinea and New Zealand, exported refined petroleum shipped from Oceania achieved a much smaller worldwide share at 0.4%.

The 4-digit Harmonized Tariff System code prefix for refined oil is 2710.

Refined Oil Exports by Country


Below are the 15 countries that exported the highest dollar value worth of refined oil during 2016:

  1. United States: US$64.1 billion (12.7% of total refined oil exports)
  2. Russia: $46 billion (9.1%)
  3. Netherlands: $37.4 billion (7.4%)
  4. Singapore: $36.1 billion (7.2%)
  5. India: $27 billion (5.3%)
  6. South Korea: $25.5 billion (5%)
  7. Saudi Arabia: $23.7 billion (4.7%)
  8. Belgium: $20 billion (4%)
  9. China: $19.4 billion (3.8%)
  10. United Arab Emirates: $15.2 billion (3%)
  11. Malaysia: $11.1 billion (2.2%)
  12. Germany: $11 billion (2.2%)
  13. Italy: $10.5 billion (2.1%)
  14. Taiwan: $9.5 billion (1.9%)
  15. United Kingdom: $9.2 billion (1.8%)

The listed 15 countries shipped 72.4% of global refined oil exports in 2016 by value.

Among the above countries, only two increased the value of their refined oil exports since 2012: United Arab Emirates (up 10.4%) and Saudi Arabia (up 4.2%).

Those countries that posted declines in their exported sales were led by: United Kingdom (down -67%), Italy (down -57.9%), Russia (down -55.7%), Taiwan (down -55%) and South Korea (down -53.5%).


The following countries posted the highest positive net exports for refined oil during 2016. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s refined oil exports and its import purchases for that same commodity.

  1. Russia: US$45.2 billion (net export surplus down -55.6% since 2012)
  2. India: $23.3 billion (down -51.1%)
  3. Saudi Arabia: $23.2 billion (up 4.3%)
  4. United States: $22.9 billion (up 119.4%)
  5. South Korea: $13.7 billion (down -52.7%)
  6. Netherlands: $13.1 billion (down -34.9%)
  7. United Arab Emirates: $9.1 billion (up 37.6%)
  8. Kuwait: $9.1 billion (down -65.2%)
  9. China: $8.2 billion (reversing a -$11.7 billion deficit)
  10. Qatar: $5.3 billion (down -34.4%)
  11. Greece: $4.8 billion (down -45.1%)
  12. Italy: $4.3 billion (down -68.9%)
  13. Belgium: $4.1 billion (down -58%)
  14. Algeria: $4.1 billion (down -25.2%)
  15. Belarus: $3.5 billion (down -63.3%)

Russia has the highest surplus in the international trade of refined oil. In turn, this positive cashflow confirms Russia’s strong competitive advantage for this specific product category.


The following countries posted the highest negative net exports for refined oil during 2016. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s refined oil import purchases and its exports for that same commodity.

  1. Mexico: -US$15.7 billion (net export deficit down -29.4% since 2012)
  2. Indonesia: -$9.5 billion (down -63.7%)
  3. Australia: -$9.4 billion (down -29.6%)
  4. France: -$8.3 billion (down -61.3%)
  5. Hong Kong: -$6.7 billion (down -53.8%)
  6. Gibraltar: -$6.5 billion (down -57.7%)
  7. Brazil: -$6.1 billion (down -44.1%)
  8. Vietnam: -$6.1 billion (down -20.5%)
  9. Germany: -$6 billion (down -62.3%)
  10. United Kingdom: -$5.2 billion (up 2,705%)
  11. Turkey: -$4.6 billion (down -48.5%)
  12. Nigeria: -$4.5 billion (down -138.7%)
  13. Philippines: -$3.8 billion (down -16.8%)
  14. Panama: -$3.6 billion (up 33.5%)
  15. Lebanon: -$3.5 billion (down -35.9%)

Mexico incurred the highest deficit in the international trade of processed petroleum oils despite running a $15.5 billion surplus for crude oil. In turn, this negative cashflow highlights Mexico ‘s strong competitive disadvantage for this specific product category but also signals opportunities for refined oil-supplying countries that help satisfy the powerful demand.


Refined Oil Exporting Companies

According to Forbes 2015 Global 2000 rankings, the following oil and gas companies are among the top 40 largest companies in the world:

  • Exxon Mobile (United States)
  • PetroChina (China)
  • Royal Dutch Shell (Netherlands)
  • BP (United Kingdom)
  • Chevron (United States)
  • Gazprom (Russia)
  • Total (France)
  • Sinopec-China Petroleum (China)
  • Petrobras (Brazil)
  • Rosneft (Russia)

The above corporations are presented in the same order as they appear in the Forbes listing.


Searchable List of Refined Oil Exporting Countries

You can change the presentation order by clicking the triangle icon at the top of any of the columns below.

RankExporter2016 Refined Oil Exports% World Total
1.United StatesUS$64.1 billion12.7%
2.Russia$46 billion9.1%
3.Netherlands$37.4 billion7.4%
4.Singapore$36.1 billion7.2%
5.India$27 billion5.3%
6.South Korea$25.5 billion5%
7.Saudi Arabia$23.7 billion4.7%
8.Belgium$20 billion4%
9.China$19.4 billion3.8%
10.United Arab Emirates$15.2 billion3%
11.Malaysia$11.1 billion2.2%
12.Germany$11 billion2.2%
13.Italy$10.5 billion2.1%
14.Taiwan$9.5 billion1.9%
15.United Kingdom$9.2 billion1.8%
16.Kuwait$9.2 billion1.8%
17.Spain$8.3 billion1.6%
18.Canada$8.1 billion1.6%
19.Japan$7.6 billion1.5%
20.Greece$7.2 billion1.4%
21.France$7 billion1.4%
22.Sweden$6.5 billion1.3%
23.Qatar$5.5 billion1.1%
24.Algeria$5.3 billion1.1%
25.Thailand$4.8 billion1%
26.Finland$4.2 billion0.8%
27.Belarus$4.1 billion0.8%
28.Venezuela$3.3 billion0.7%
29.Norway$3.2 billion0.6%
30.Lithuania$3.2 billion0.6%
31.Portugal$2.9 billion0.6%
32.Turkey$2.8 billion0.6%
33.Oman$2.4 billion0.5%
34.Mexico$2.3 billion0.5%
35.Poland$2.2 billion0.4%
36.South Africa$2 billion0.4%
37.Colombia$2 billion0.4%
38.Denmark$1.9 billion0.4%
39.Bahrain$1.9 billion0.4%
40.Romania$1.8 billion0.4%
41.Peru$1.7 billion0.3%
42.Bulgaria$1.7 billion0.3%
43.Australia$1.6 billion0.3%
44.Slovakia$1.6 billion0.3%
45.Iran$1.4 billion0.3%
46.Brazil$1.2 billion0.2%
47.Austria$1.1 billion0.2%
48.Trinidad/Tobago$1 billion0.2%
49.Egypt$944.6 million0.2%
50.Czech Republic$875.7 million0.2%
51.Hungary$844.8 million0.2%
52.Estonia$812.9 million0.2%
53.Kazakhstan$812.6 million0.2%
54.Croatia$740.8 million0.1%
55.Slovenia$724.7 million0.1%
56.Nigeria$620.9 million0.1%
57.Ireland$577.2 million0.1%
58.Israel$569.1 million0.1%
59.Panama$434.9 million0.1%
60.Switzerland$430.9 million0.1%
61.Hong Kong$404.8 million0.1%
62.Indonesia$400.4 million0.1%
63.Libya$392.6 million0.1%
64.Cyprus$385.3 million0.1%
65.Ecuador$380.8 million0.1%
66.Iraq$352.9 million0.1%
67.Pakistan$350.7 million0.1%
68.Angola$331.9 million0.1%
69.Argentina$320.2 million0.1%
70.Latvia$293.8 million0.1%
71.Azerbaijan$285.4 million0.1%
72.Papua New Guinea$283.2 million0.1%
73.Curaçao$280.5 million0.1%
74.Chile$274.7 million0.1%
75.Senegal$262.1 million0.1%
76.Tunisia$222.7 million0.0%
77.Turkmenistan$210.6 million0.04%
78.Côte d'Ivoire$208.3 million0.04%
79.Philippines$196.8 million0.04%
80.Morocco$192.3 million0.04%
81.Bahamas$177.1 million0.04%
82.Viet Nam$159.2 million0.03%
83.Sri Lanka$158.2 million0.03%
84.Serbia$154 million0.03%
85.Niger$151.4 million0.03%
86.Guatemala$125.4 million0.02%
87.Gibraltar$124.5 million0.02%
88.Ghana$122.1 million0.02%
89.Malta$121.9 million0.02%
90.Cameroon$120.5 million0.02%
91.Rwanda$108.2 million0.02%
92.Netherlands Antilles$99.8 million0.02%
93.Congo$97.8 million0.02%
94.El Salvador$89.8 million0.02%
95.Suriname$88.5 million0.02%
96.Gabon$77.1 million0.02%
97.Barbados$67.9 million0.01%
98.Sudan$67.9 million0.01%
99.Iceland$57.9 million0.01%
100.Bosnia/Herzegovina$56.7 million0.01%
101.Ukraine$54.7 million0.01%
102.New Zealand$46.1 million0.01%
103.Bolivia$45.8 million0.01%
104.Bangladesh$45.6 million0.01%
105.Madagascar$44.3 million0.01%
106.Paraguay$40.2 million0.01%
107.Macedonia$38.6 million0.01%
108.Kyrgyzstan$38.2 million0.01%
109.Aruba$36.3 million0.01%
110.North Korea$33.5 million0.01%
111.Uruguay$33.5 million0.01%
112.Brunei Darussalam$27.7 million0.01%
113.Namibia$27.6 million0.01%
114.Democratic Rep. Congo$24.2 million0.00%
115.British Virgin Islands$22.1 million0.00%
116.Cuba$15.4 million0.003%
117.Montenegro$13.9 million0.003%
118.Lebanon$13.4 million0.003%
119.Benin$13.2 million0.003%
120.Marshall Islands$12.9 million0.003%
121.US Minor Outlying Is.$12.7 million0.003%
122.Samoa$12 million0.002%
123.Togo$11.2 million0.002%
124.Burkina Faso$10.6 million0.002%
125.Mozambique$9.7 million0.002%
126.Kenya$9.3 million0.002%
127.Seychelles$8.3 million0.002%
128.Georgia$8.2 million0.002%
129.Nicaragua$7.9 million0.002%
130.Equatorial Guinea$6.8 million0.001%
131.Moldova$6.5 million0.001%
132.Belize$6.5 million0.001%
133.Botswana$4.9 million0.001%
134.Tanzania$4.6 million0.001%
135.Luxembourg$4.4 million0.001%
136.Albania$3.8 million0.001%
137.Uzbekistan$3.2 million0.001%
138.Costa Rica$2.8 million0.001%
139.Bonaire/St Eustatius/Saba$2.8 million0.001%
140.Saint Lucia$2.7 million0.001%
141.Jordan$2.5 million0.000%
142.Burundi$2.2 million0.000%
143.Fiji$2.2 million0.0004%
144.Dominican Republic$2.2 million0.0004%
145.Falkland Is. (Malvinas)$1.5 million0.0003%
146.Macao$1.4 million0.0003%
148.St Vincent/Grenadines$673,0000.0001%
160.Myanmar (Burma)$157,0000.00003%
163.French South Antarctic$120,0000.00002%
166.Faroe Islands$72,0000.00001%
170.French Polynesia$46,0000.00001%
171.Central African Republic$41,0000.00001%
175.St Maarten (Dutch part)$27,0000.00001%
179.Wallis/Futuna Islands$24,0000.000005%
184.St. Pierre/Miquelon$14,0000.000003%
186.New Caledonia$11,0000.000002%
188.Saint Kitts/Nevis$9,0000.000002%
190.Cayman Islands$9,0000.000002%
192.Cook Islands$3,0000.000001%
196.Solomon Islands$2,0000.000000%
199.Cocos (Keeling) Is.$1,0000.0000002%

See also Highest Value Russian Export Products, Russia’s Top Import Partners, Crude Oil Exports by Country and Largest Oil and Gas Export Companies

Research Sources:
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on June 2, 2017

Trade Map, International Trade Centre. Accessed on June 2, 2017

Investopedia, Net Exports Definition. Accessed on June 2, 2017

Wikipedia, Big Oil. Accessed on June 2, 2017
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 2, 2017