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271320 (Harmonized System 1992 for 6-digit)

2022
World Trade $15BRnk 243 / 4648
2022
Top Exporter | Top Importer $2.71B | $2.93BCanada | United States
2022
Product Complexity -0.72Rnk 3497 / 4653
2021 - 2022
Export Growth (CAGR) 9.01%Rnk 1720 / 4648
2022
Share of World Trade 0.063%Rnk 243 / 4648

About

Overview This page contains the latest trade data of Petroleum bitumen. In 2022, Petroleum bitumen were the world's 243rd most traded product, with a total trade of $15B. Between 2021 and 2022 the exports of Petroleum bitumen grew by 9.01%, from $13.7B to $15B. Trade in Petroleum bitumen represent 0.063% of total world trade.

Petroleum bitumen are a part of Petroleum Coke.

Exports In 2022 the top exporters of Petroleum bitumen  were Canada ($2.71B), Singapore ($1.53B), South Korea ($1.09B), United Arab Emirates ($963M), and Germany ($851M).

Imports In 2022 the top importers of Petroleum bitumen were United States ($2.93B), China ($1.41B), India ($921M), France ($555M), and Indonesia ($477M).

Ranking Petroleum bitumen ranks 3497th in the Product Complexity Index (PCI).

Description Petroleum bitumen is the thick, sticky, black substance that is composed of large molecules. The oil sands of Canada are one of the largest sources of petroleum bitumen. The substance is refined into crude oil, which can then be used for fuel for vehicles or in the production of plastics.

Latest Trends

Latest Data

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

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

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)Canada$2.71B
Top Destination (2022)United States$2.93B

In 2022 Petroleum bitumen were the world's 243rd most traded product (out of 4,648).

In 2022, the top exporters of Petroleum bitumen were Canada ($2.71B), Singapore ($1.53B), South Korea ($1.09B), United Arab Emirates ($963M), and Germany ($851M).

In 2022, the top importers of Petroleum bitumen were United States ($2.93B), China ($1.41B), India ($921M), France ($555M), and Indonesia ($477M).

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Exporters of Petroleum bitumen (2022)
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Importers of Petroleum bitumen (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)Canada$1.4B
Top Destination Growth (2021 -  2022)United States$1.34B

Between 2021 and 2022, the exports of Petroleum bitumen grew the fastest in Canada ($1.4B), Singapore ($421M), Iraq ($225M), Turkey ($201M), and South Korea ($171M).

Between 2021 and 2022, the fastest growing importers of Petroleum bitumen were United States ($1.34B), China ($165M), Indonesia ($153M), Vietnam ($140M), and Togo ($76.4M).

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Exporters of Petroleum bitumen (2021 - 2022)

Importers of Petroleum bitumen (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Petroleum bitumen.

In 2022, market concentration measured using Shannon Entropy, was 4.56. This means that most of the exports of Petroleum bitumen are explained by 23 countries.

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Value of Exports in Petroleum bitumen

Net Trade

TOP NET EXPORTER (2022)Canada$2.62B
TOP NET IMPORTER (2022)United States$2.59B

This map shows which countries export or import more of Petroleum bitumen. Each country is colored based on the difference in exports and imports of Petroleum bitumen during 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Petroleum bitumen were Canada ($2.62B), Singapore ($1.52B), South Korea ($1.07B), Germany ($775M), and United Arab Emirates ($774M).

In 2022, the countries that had a largest trade value in imports than in exports of Petroleum bitumen were United States ($2.59B), China ($1.11B), India ($859M), Vietnam ($473M), and Indonesia ($471M).

Net Trade (2022)

Country Comparison

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Measure
Ranking

This visualization shows the countries that have an important ratio of their trade related to Petroleum bitumen.
It is possible to select the main countries that export or import Petroleum bitumen in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Petroleum bitumen by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2022)

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