Crude Oil Exports by Country

August 31, 2017 by
Oil rig in action

Oil rig in action

Oil is the world’s number 2 export product outpaced only by exported cars. Amounting to 4.3% of the global value of all export products, crude oil shipments totaled US$678.1 billion for 2016.

That figure represents a -59.4% drop in value since 2012 and a -11.4% decline from 2015 to 2016.

Middle Eastern countries accounted for the highest dollar value worth of crude oil exports during 2016 with shipments valued at $310.6 billion or 45.8% of global crude oil exports. This compares with 17.7% for Europe, 12.6% for Africa, 9.3% for North America, 6.8% for Asia and 6.7% for Latin America (excluding Mexico) and Caribbean exporters.

The 4-digit Harmonized Tariff System code prefix for crude oil is 2709.

Crude Oil Exports by Country

Countries

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

  1. Saudi Arabia: US$136.2 billion (20.1% of total crude oil exports)
  2. Russia: $73.7 billion (10.9%)
  3. Iraq: $46.3 billion (6.8%)
  4. Canada: $39.5 billion (5.8%)
  5. United Arab Emirates: $38.9 billion (5.7%)
  6. Kuwait: $30.7 billion (4.5%)
  7. Iran: $29.1 billion (4.3%)
  8. Nigeria: $27 billion (4%)
  9. Angola: $25.2 billion (3.7%)
  10. Norway: $22.6 billion (3.3%)
  11. Venezuela: $20.4 billion (3%)
  12. Kazakhstan: $19.4 billion (2.9%)
  13. Mexico: $15.5 billion (2.3%)
  14. Qatar: $14.6 billion (2.2%)
  15. United Kingdom: $13.3 billion (2%)

All of the above international traders posted declines in the value of their crude oil exports from 2012 to 2016, ranging from -32.5% for Iraq to -72.8% for Nigeria. Other fast-declining crude oil exporters were: Venezuela (down -70.4%), Mexico (down -66.9%), Kazakhstan (down -65.7%) and Angola (down -63.4%).

The listed 15 countries accounted for 81.4% of all crude oil exports in 2016 (by value).

Advantages

The following countries posted the highest positive net exports for crude 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 crude oil exports and its import purchases for that same commodity.

  1. Saudi Arabia: US$136.2 billion (net export surplus down -55.4% since 2012)
  2. Russia: $73.6 billion (down -59.3%)
  3. Iraq: $46.3 billion (down -24.3%)
  4. United Arab Emirates: $38.5 billion (down -60.1%)
  5. Kuwait: $30.7 billion (down -60.9%)
  6. Iran: $29.1 billion (down -44.9%)
  7. Canada: $28.6 billion (down -36.5%)
  8. Nigeria: $27 billion (down -72.8%)
  9. Angola: $25.2 billion (down -63.4%)
  10. Norway: $22.5 billion (down -58%)
  11. Venezuela: $20.4 billion (down -70.4%)
  12. Kazakhstan: $19.4 billion (down -64.3%)
  13. Mexico: $15.5 billion (down -66.9%)
  14. Qatar: $14.6 billion (down -44.1%)
  15. Oman: $12.9 billion (down -58%)

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

Opportunities

The following countries posted the highest negative net exports for crude 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 crude oil import purchases and its exports for that same commodity.

  1. China: -US$115.2 billion (net export deficit down -47.3% since 2012)
  2. United States: -$99.8 billion (down -68.7%)
  3. India: -$60.9 billion (down -59.1%)
  4. Japan: -$50.8 billion (down -66.8%)
  5. South Korea: -$44.2 billion (down -59.2%)
  6. Germany: -$28.7 billion (down -62.5%)
  7. Netherlands: -$22.3 billion (down -61%)
  8. Italy: -$18.7 billion (down -66.8%)
  9. Spain: -$18.4 billion (down -60.2%)
  10. France: -$17.9 billion (down -62.1%)
  11. Singapore: -$15.1 billion (down -62.3%)
  12. Thailand: -$14.7 billion (down -56.9%)
  13. Taiwan: -$12.9 billion (down -63.9%)
  14. Belgium: -$10.7 billion (down -60.5%)
  15. Poland: -$7.1 billion (down -63.7%)

China incurred the highest deficit in the international trade of crude oil albeit at a slowing pace given the -47.3% drop in its crude oil deficit size since 2012. Still, the negative cashflow highlights China’s strong competitive disadvantage for this specific product category. The other side of the coin is that these deficits signal opportunities for crude oil-supplying countries that help satisfy the powerful demand, but also for entrepreneurs who develop alternative energy sources that can power industrial economies.

Companies

Crude Oil Exporting Companies

Based on the Forbes 2016 Global 2000 rankings, the following oil and gas companies are among the top 100 largest companies in the world:

  • Exxon Mobil (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)
  • Eni (Italy)
  • Statoil (Norway)
  • ConocoPhillips (United States)
  • LukOil (Russia)

The above corporations are presented in the same order as they appear in Forbes listings. Shown within parentheses is the country where each conglomerate has its headquarters.



Searchable List of Crude Oil Exporting Countries

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

RankExporter2016 Crude Oil Exports% World Total
1.Saudi ArabiaUS$136.2 billion20.1%
2.Russia$73.7 billion10.9%
3.Iraq$46.3 billion6.8%
4.Canada$39.5 billion5.8%
5.United Arab Emirates$38.9 billion5.7%
6.Kuwait$30.7 billion4.5%
7.Iran$29.1 billion4.3%
8.Nigeria$27 billion4.0%
9.Angola$25.2 billion3.7%
10.Norway$22.6 billion3.3%
11.Venezuela$20.4 billion3.0%
12.Kazakhstan$19.4 billion2.9%
13.Mexico$15.5 billion2.3%
14.Qatar$14.6 billion2.2%
15.United Kingdom$13.3 billion2.0%
16.Oman$12.9 billion1.9%
17.Azerbaijan$10.9 billion1.6%
18.Algeria$10.5 billion1.5%
19.Brazil$10.1 billion1.5%
20.United States$8.3 billion1.2%
21.Colombia$8 billion1.2%
22.Netherlands$7 billion1.0%
23.Malaysia$5.7 billion0.8%
24.Indonesia$5.2 billion0.8%
25.Ecuador$5.1 billion0.7%
26.Libya$5 billion0.7%
27.Australia$3.6 billion0.5%
28.Equatorial Guinea$3.1 billion0.5%
29.Congo$3 billion0.4%
30.Gabon$2.8 billion0.4%
31.Vietnam$2.6 billion0.4%
32.Sudan$1.8 billion0.3%
33.Egypt$1.8 billion0.3%
34.Brunei Darussalam$1.7 billion0.3%
35.Chad$1.4 billion0.2%
36.Ghana$1.3 billion0.2%
37.Cameroon$1.2 billion0.2%
38.Denmark$1.2 billion0.2%
39.China$943.5 million0.1%
40.Belgium$851.9 million0.1%
41.Argentina$739.9 million0.1%
42.Papua New Guinea$645.2 million0.1%
43.Côte d'Ivoire$600.2 million0.1%
44.Turkmenistan$537.3 million0.1%
45.Thailand$497.3 million0.1%
46.Belarus$471.6 million0.1%
47.Tunisia$421.3 million0.1%
48.New Zealand$406.2 million0.1%
49.Trinidad/Tobago$397 million0.1%
50.Spain$323.6 million0.05%
51.Mongolia$286.2 million0.04%
52.Democratic Rep. Congo$265.8 million0.04%
53.Italy$228 million0.03%
54.Philippines$173.6 million0.03%
55.Yemen$158.2 million0.02%
56.Albania$155.8 million0.02%
57.South Africa$122.2 million0.02%
58.Netherlands Antilles$101.1 million0.01%
59.Bahamas$88.9 million0.01%
60.Togo$87 million0.01%
61.Guatemala$80 million0.01%
62.Panama$79.5 million0.01%
63.Liberia$73.6 million0.01%
64.Bolivia$70 million0.01%
65.Poland$66.3 million0.01%
66.Pakistan$65.1 million0.01%
67.Guinea$47.3 million0.01%
68.Timor-Leste$41 million0.01%
69.Mauritania$39.2 million0.01%
70.Greece$39.1 million0.01%
71.Myanmar (Burma)$35.5 million0.01%
72.Hungary$34.2 million0.01%
73.Georgia$31.6 million0.005%
74.Peru$24 million0.004%
75.Sri Lanka$22.7 million0.003%
76.Aruba$16.8 million0.002%
77.Lithuania$16.3 million0.002%
78.Romania$13.1 million0.002%
79.Belize$11.2 million0.002%
80.Barbados$8.9 million0.001%
81.Czech Republic$8.5 million0.001%
82.Senegal$7.6 million0.001%
83.Bangladesh$5.8 million0.001%
84.Estonia$3.6 million0.001%
85.Switzerland$3.3 million0.0005%
86.Slovakia$2.7 million0.0004%
87.Kyrgyzstan$2.6 million0.0004%
88.Israel$2.4 million0.0004%
89.Latvia$2.1 million0.0003%
90.France$1.5 million0.0002%
91.Germany$422,0000.0001%
92.Gambia$301,0000.00004%
93.Bulgaria$214,0000.00003%
94.Serbia$166,0000.00002%
95.Singapore$164,0000.00002%
96.Moldova$31,0000.000005%
97.Ireland$21,0000.000003%
98.Slovenia$12,0000.000002%
99.Lebanon$5,0000.000001%
100.Sweden$4,0000.000001%
101.Montenegro$3,0000.0000004%
102.South Korea$1,0000.0000001%
103.Zimbabwe$1,0000.0000001%
104.Cuba$1,0000.0000001%
105.Samoa$1,0000.0000001%

See also Uranium Exports by Country, Iron Ore Exports by Country, Crude Oil Imports by Country and Largest Oil and Gas Export Companies

Research Sources:
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on May 8, 2017

Trade Map, International Trade Centre. Accessed on May 8, 2017

Investopedia, Net Exports Definition. Accessed on May 8, 2017

Wikipedia, Big Oil. Accessed on May 8, 2017
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 8, 2017







Filed Under: Energy, Top products