Overview This page contains the latest trade data of Crude Petroleum. In 2021, Crude Petroleum were the world's 1st most traded product, with a total trade of $951B. Between 2020 and 2021 the exports of Crude Petroleum grew by 47.4%, from $646B to $951B. Trade in Crude Petroleum represent 4.52% of total world trade.
Crude Petroleum are a part of Mineral fuels, mineral oils and products of their distillation. They include Petroleum oils, oils from bituminous minerals, crude.
Exports In 2021 the top exporters of Crude Petroleum were Saudi Arabia ($138B), Russia ($113B), Canada ($81.2B), Iraq ($72B), and United States ($67.6B).
Imports In 2021 the top importers of Crude Petroleum were China ($208B), United States ($120B), India ($93.5B), South Korea ($60.6B), and Japan ($54.9B).
Tariffs In 2018 the average tariff for Crude Petroleum was 1.84%, making it the 1250th lowest tariff using the HS4 product classification.
Ranking Crude Petroleum ranks 1013th in the Product Complexity Index (PCI).