Crude Petroleum in Australia | The Observatory of Economic Complexity

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Exports In 2022, Australia exported $7.54B in Crude Petroleum, making it the 26th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 7th most exported product in Australia. The main destination of Crude Petroleum exports from Australia are: South Korea ($1.85B), Singapore ($1.52B), Thailand ($1.33B), China ($1.33B), and Indonesia ($494M).

The fastest growing export markets for Crude Petroleum of Australia between 2021 and 2022 were South Korea ($1.3B), China ($1.25B), and Thailand ($1.08B).

Imports In 2022, Australia imported $6.45B in Crude Petroleum, becoming the 26th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 6th most imported product in Australia. Australia imports Crude Petroleum primarily from: Malaysia ($2.22B), Brunei ($998M), United States ($855M), Vietnam ($466M), and Libya ($452M).

The fastest growing import markets in Crude Petroleum for Australia between 2021 and 2022 were United States ($553M), Brunei ($374M), and Libya ($215M).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Crude Petroleum from Australia to the United States.

Feb 2024

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For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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EXPORTS (2022)$7.54B

IMPORTS (2022)$6.45B

NET TRADE (2022)$1.09B

In 2022, Australia exported $7.54B in Crude Petroleum. The main destinations of Australia exports on Crude Petroleum were South Korea ($1.85B), Singapore ($1.52B), Thailand ($1.33B), China ($1.33B), and Indonesia ($494M).

In 2022, Australia imported $6.45B in Crude Petroleum, mainly from Malaysia ($2.22B), Brunei ($998M), United States ($855M), Vietnam ($466M), and Libya ($452M).