Refined Petroleum in Italy | The Observatory of Economic Complexity

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Exports In 2022, Italy exported $24.6B in Refined Petroleum, making it the 13th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Italy. The main destination of Refined Petroleum exports from Italy are: United States ($2.87B), Gibraltar ($1.88B), France ($1.86B), Croatia ($1.61B), and Slovenia ($1.59B).

The fastest growing export markets for Refined Petroleum of Italy between 2021 and 2022 were Slovenia ($1.19B), Croatia ($1.15B), and United States ($1.04B).

Imports In 2022, Italy imported $12.3B in Refined Petroleum, becoming the 24th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in Italy. Italy imports Refined Petroleum primarily from: Saudi Arabia ($3.39B), Russia ($2.03B), Greece ($957M), Spain ($790M), and United Arab Emirates ($646M).

The fastest growing import markets in Refined Petroleum for Italy between 2021 and 2022 were Saudi Arabia ($1.42B), Slovenia ($415M), and Kuwait ($296M).

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

Latest Trends

December 2023

About

Overview In December 2023 Italy's Refined Petroleum exports accounted up to €1.46B and imports accounted up to €772M, resulting in a positive trade balance of €684M. Between December 2022 and December 2023 the exports of Italy's Refined Petroleum have decreased by €-341M (-19%) from €1.8B to €1.46B, while imports decreased by €-357M (-31.6%) from €1.13B to €772M.

Destinations In December 2023, Refined Petroleum were exported mostly to Spain (€192M), United States (€167M), Gibraltar (€135M), Egypt (€130M), and Croatia (€111M), and were imported mostly from Saudi Arabia (€188M), Kuwait (€89.2M), South Korea (€79.4M), Indonesia (€75.5M), and Turkey (€70.4M).

Growth In December 2023, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Spain (€-83.6M or -41.7%), Tunisia (€-45.2M or -80.2%), and South Africa (€-35.2M or -54.2%). In December 2023, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Israel (€-36.3M or -99.8%), Greece (€-23.9M or -28.8%), and Netherlands (€-16.7M or -69.6%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)€-341M(-19%)

IMPORT GROWTH (December 2022 - December 2023)€-357M(-31.6%)

MAIN DESTINATION (December 2023)Spain€192M

This section shows Refined Petroleum's exports and imports data at subnational level for Italy. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Refined Petroleum over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$24.6B

IMPORTS (2022)$12.3B

NET TRADE (2022)$12.3B

In 2022, Italy exported $24.6B in Refined Petroleum. The main destinations of Italy exports on Refined Petroleum were United States ($2.87B), Gibraltar ($1.88B), France ($1.86B), Croatia ($1.61B), and Slovenia ($1.59B).

In 2022, Italy imported $12.3B in Refined Petroleum, mainly from Saudi Arabia ($3.39B), Russia ($2.03B), Greece ($957M), Spain ($790M), and United Arab Emirates ($646M).

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