Refined Oil Exports by Country

Texan Oil Refinery

Texan Oil Refinery

Global sales from refined oil exports by country amounted to US$626.5 billion in 2017.

Overall, the value of exported refined petroleum oils fell by an average -39.9% for all exporting countries since 2013 when refined oil shipments were valued at $1.042 trillion. Year over year, the value of global refined oil exports rose 23.7% from 2016 to 2017.

Among continents, Asian countries generated the highest dollar worth of refined oil exports during 2017 with shipments valued at $257.6 billion or 41.1% of the global total. In second place were European exporters at 39.1% while 14.6% of worldwide refined oil shipments originated from North America.

Both at 2.3%, smaller percentages came from Latin America excluding Mexico but including the Caribbean and also from the African continent. A tiny 0.4% of worldwide shipments for refined petroleum oils were shipped from Oceania led by Australia and Papua New Guinea.

The 4-digit Harmonized Tariff System code prefix is 2710 for refined petroleum oils excluding crude oil.

Refined Oil Exports by Country


Below are the 15 countries that exported the highest dollar value worth of refined oil during 2017.

  1. United States: US$77.8 billion (12.4% of exported refined petroleum)
  2. Russia: $58.2 billion (9.3%)
  3. Singapore: $45.8 billion (7.3%)
  4. Netherlands: $44.2 billion (7%)
  5. South Korea: $33.5 billion (5.3%)
  6. Saudi Arabia: $31.7 billion (5.1%)
  7. Belgium: $25.5 billion (4.1%)
  8. China: $25.5 billion (4.1%)
  9. United Arab Emirates: $25.2 billion (4%)
  10. India: $24.1 billion (3.9%)
  11. Italy: $14.5 billion (2.3%)
  12. Malaysia: $13.2 billion (2.1%)
  13. Spain: $12.7 billion (2%)
  14. Germany: $12.3 billion (2%)
  15. Canada: $11.3 billion (1.8%)

The listed 15 countries shipped 72.7% of global refined petroleum oil exports in 2017 by value.

Among the above suppliers grew the value of their refined oil exports since 2013 namely Saudi Arabia via a 66.4% increase and China with its 4.1% gain.

Those countries that posted declines in the international sale of refined petroleum oils were led by: India (down -64%), Belgium (down -47.6%), Russia (down -46.8%), Netherlands (down -42.1%) and Canada (down -38.6%).


The following countries posted the highest positive net exports for refined petroleum oils during 2017. 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$57.4 billion (net export surplus down -46.7% since 2013)
  2. United States: $29.9 billion (up 28.4%)
  3. Saudi Arabia: $29.2 billion (up 69.5%)
  4. India: $21.1 billion (down -66.4%)
  5. South Korea: $18.8 billion (down -15.2%)
  6. United Arab Emirates: $18.3 billion (down -22.3%)
  7. Netherlands: $15.3 billion (down -38.4%)
  8. China: $11 billion (reversing a -$7.5 billion deficit)
  9. Kuwait: $9 billion (down -62.5%)
  10. Qatar: $6.9 billion (down -7%)
  11. Italy: $6.8 billion (up 3.4%)
  12. Belgium: $6.7 billion (down -43%)
  13. Greece: $6.1 billion (down -30.7%)
  14. Algeria: $4.8 billion (up 21.2%)
  15. Spain: $4.6 billion (up 78.6%)

Despite enduring a significant profitability deterioration over the latest 5-year period, 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 petroleum oils during 2017. 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$22.4 billion (net export deficit up 14.1% since 2013)
  2. Indonesia: -$14.1 billion (down -46.4%)
  3. Australia: -$12.9 billion (down -15.9%)
  4. Brazil: -$10.1 billion (down -23.9%)
  5. France: -$9.7 billion (down -53.9%)
  6. Hong Kong: -$9 billion (down -35.2%)
  7. Vietnam: -$8.1 billion (up 29.6%)
  8. Germany: -$8 billion (down -57.1%)
  9. Nigeria: -$7.8 billion (up 27.8%)
  10. Pakistan: -$7.3 billion (down -16.8%)
  11. Turkey: -$6.1 billion (down -35.1%)
  12. Gibraltar: -$6 billion (down -58.6%)
  13. United Kingdom: -$5.3 billion (up 221.9%)
  14. Philippines: -$5.2 billion (up 18.1%)
  15. Panama: -$4.8 billion (up 1,550,818%)

Mexico incurred the highest deficit in the international trade of processed petroleum oils despite running a $19.9 billion surplus for crude oil in 2017. 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 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.

RankExporter2017 Refined Oil Exports% World Total
1.United StatesUS$77.8 billion12.4%
2.Russia$58.2 billion9.3%
3.Singapore$45.8 billion7.3%
4.Netherlands$44.2 billion7%
5.South Korea$33.5 billion5.3%
6.Saudi Arabia$31.7 billion5.1%
7.Belgium$25.5 billion4.1%
8.China$25.5 billion4.1%
9.United Arab Emirates$25.2 billion4%
10.India$24.1 billion3.9%
11.Italy$14.5 billion2.3%
12.Malaysia$13.2 billion2.1%
13.Spain$12.7 billion2%
14.Germany$12.3 billion2%
15.Canada$11.3 billion1.8%
16.United Kingdom$11.3 billion1.8%
17.Taiwan$10.4 billion1.7%
18.Greece$9.6 billion1.5%
19.Kuwait$9.2 billion1.5%
20.Japan$8.9 billion1.4%
21.France$8.8 billion1.4%
22.Sweden$7.7 billion1.2%
23.Qatar$7.2 billion1.2%
24.Algeria$6.5 billion1%
25.Thailand$6.1 billion1%
26.Norway$5.2 billion0.8%
27.Finland$5 billion0.8%
28.Lithuania$3.9 billion0.6%
29.Portugal$3.8 billion0.6%
30.Turkey$3.7 billion0.6%
31.Venezuela$3.1 billion0.5%
32.Oman$2.8 billion0.4%
33.Peru$2.6 billion0.4%
34.Belarus$2.6 billion0.4%
35.Egypt$2.4 billion0.4%
36.Mexico$2.4 billion0.4%
37.South Africa$2.4 billion0.4%
38.Bahrain$2.3 billion0.4%
39.Denmark$2.3 billion0.4%
40.Romania$2.1 billion0.3%
41.Colombia$2.1 billion0.3%
42.Slovakia$2 billion0.3%
43.Australia$1.8 billion0.3%
44.Poland$1.8 billion0.3%
45.Brazil$1.8 billion0.3%
46.Bulgaria$1.7 billion0.3%
47.Iran$1.6 billion0.3%
48.Iraq$1.4 billion0.2%
49.Austria$1.4 billion0.2%
50.Trinidad/Tobago$1.3 billion0.2%
51.Hungary$1.2 billion0.2%
52.Kazakhstan$1.2 billion0.2%
53.Czech Republic$1.1 billion0.2%
54.Croatia$1.1 billion0.2%
55.Slovenia$972.5 million0.2%
56.Estonia$940.4 million0.2%
57.Indonesia$909 million0.1%
58.Israel$861.2 million0.1%
59.Ireland$742.3 million0.1%
60.Ecuador$722.2 million0.1%
61.Panama$703 million0.1%
62.Curaçao$658.4 million0.1%
63.Cyprus$597.6 million0.1%
64.Libya$576.6 million0.1%
65.Switzerland$545.2 million0.1%
66.Argentina$537.3 million0.1%
67.Hong Kong$469.6 million0.1%
68.Chile$446.8 million0.1%
69.Papua New Guinea$408.9 million0.1%
70.Kenya$349.0 million0.1%
71.Turkmenistan$316.3 million0.1%
72.Sri Lanka$294.6 million0.05%
73.Philippines$276.8 million0.04%
74.Latvia$266.2 million0.04%
75.Côte d'Ivoire$255.9 million0.04%
76.Angola$243.6 million0.04%
77.Vietnam$243.4 million0.04%
78.Morocco$234 million0.04%
79.Jamaica$231.5 million0.04%
80.Serbia$227.7 million0.04%
81.Azerbaijan$217.7 million0.03%
82.Tunisia$198.3 million0.03%
83.Ukraine$180.9 million0.03%
84.Bahamas$174.7 million0.03%
85.Malta$168.4 million0.03%
86.Nigeria$167 million0.03%
87.Mauritius$159 million0.03%
88.Gabon$147.2 million0.02%
89.Pakistan$142.9 million0.02%
90.Suriname$139.3 million0.02%
91.Uganda$130.3 million0.02%
92.Tanzania$115.1 million0.02%
93.Congo$114.8 million0.02%
94.El Salvador$96 million0.02%
95.Barbados$94.6 million0.02%
96.New Zealand$73.7 million0.01%
97.Aruba$69.8 million0.01%
98.Cuba$69.6 million0.01%
99.Bosnia/Herzegovina$66.4 million0.01%
100.Guatemala$65.9 million0.01%
101.Dominican Republic$64.9 million0.01%
102.Togo$64.5 million0.01%
103.Iceland$57.3 million0.01%
104.Cameroon$54.8 million0.01%
105.Sudan$54.6 million0.01%
106.Gibraltar$53.3 million0.01%
107.Tokelau$51.1 million0.01%
108.Georgia$48.5 million0.01%
109.Macedonia$47.7 million0.01%
110.Kyrgyzstan$47 million0.01%
111.Paraguay$45.9 million0.01%
112.Bangladesh$43.3 million0.01%
113.Lebanon$40.8 million0.01%
114.Madagascar$35.7 million0.01%
115.Saint Lucia$35.5 million0.01%
116.Ghana$26.5 million0.004%
117.Liberia$18.4 million0.003%
118.Benin$17.7 million0.003%
119.Senegal$16.6 million0.003%
120.Moldova$16.3 million0.003%
121.Andorra$15.9 million0.003%
122.Uruguay$15.9 million0.003%
123.Seychelles$13.6 million0.002%
124.Uzbekistan$13.5 million0.002%
125.Mozambique$13 million0.002%
126.Samoa$12.9 million0.002%
127.Cayman Islands$12.5 million0.002%
128.Democ. Rep. Congo$11.5 million0.002%
129.Nicaragua$11.1 million0.002%
130.US Minor Outlying Is$10.6 million0.002%
131.Equatorial Guinea$10.5 million0.002%
132.Albania$9.7 million0.002%
133.Belize$9.6 million0.002%
134.Namibia$8.7 million0.001%
135.Bonaire/St Eustatius/Saba$8.3 million0.001%
136.Marshall Islands$7.7 million0.001%
137.Swaziland$7.1 million0.001%
138.Brunei Darussalam$6.9 million0.001%
139.Macao, China$5.9 million0.001%
140.British Virgin Islands$4 million0.001%
141.Luxembourg$4 million0.001%
142.Haiti$3.9 million0.001%
143.Jordan$3.6 million0.001%
144.Costa Rica$3.5 million0.001%
145.Zambia$3.3 million0.001%
146.Djibouti$2.6 million0.0004%
147.Bolivia$1.9 million0.0003%
148.North Korea$1.6 million0.0003%
149.Greenland$1 million0.0002%
150.Faroe Islands$865,0000.0001%
155.Cabo Verde$310,0000.00005%
156.Myanmar (Burma)$295,0000.00005%
162.Turks/Caicos Islands$144,0000.00002%
167.French Polynesia$88,0000.00001%
170.St Vincent/Grenadines$71,0000.00001%
171.Norfolk Island$68,0000.00001%
173.St. Pierre/Miquelon$46,0000.00001%
174.New Caledonia$35,0000.00001%
178.Solomon Islands$23,0000.000004%
179.French S./Antarctic Terr$23,0000.000004%
181.Wallis/Futuna Islands$21,0000.000003%
183.Central African Rep$14,0000.000002%
187.Saint Kitts/Nevis$7,0000.000001%
191.Burkina Faso$4,0000.000001%
193.Sierra Leone$3,0000.0000005%

See also Russia’s Top Trading 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 1, 2018

Trade Map, International Trade Centre. Accessed on June 1, 2018

Investopedia, Net Exports Definition. Accessed on June 1, 2018

Wikipedia, Big Oil. Accessed on June 1, 2018
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 1, 2018