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World - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Jan 1, 2025

World - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights

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Nov 20, 2023

Top Import Markets for Crude Oil

Crude oil is an essential and highly valued commodity that drives the global economy. It serves as a crucial source of energy and raw material for various industries, making it one of the most sought-after imports in the world. In this article, we will explore the top import markets for crude oil and examine key statistics related to their import value.

1. China

China holds the top position as the world's largest importer of crude oil. In 2022, China's import value of crude oil amounted to a staggering $365.5 billion. This significant import value reflects China's heavy reliance on crude oil to meet its soaring energy demands as it continues to experience rapid economic growth.

2. United States

The United States ranks second in terms of crude oil import value, with imports worth $198.3 billion in 2022. Despite being a major producer of crude oil, the United States still relies on imports to supplement its domestic supply and meet its energy requirements. Crude oil imports play a vital role in fueling the country's transportation sector, industries, and residential needs.

3. India

India secures the third spot on the list, with a crude oil import value of $173.5 billion in 2022. As one of the world's fastest-growing economies, India's energy consumption has surged significantly. Therefore, the country heavily depends on crude oil imports to support its expanding industries and meet its burgeoning energy demand.

4. South Korea

South Korea stands out as a prominent market for crude oil imports, ranking fourth globally. In 2022, the country's import value of crude oil amounted to $106.0 billion. The availability of cheap crude oil supplies from various origins enables South Korea to maintain its competitive edge in industries such as petrochemicals, refining, and shipping.

5. Japan

Japan holds the fifth position among the world's top importers of crude oil, with imports valued at $100.9 billion in 2022. Similar to South Korea, Japan heavily relies on crude oil imports to support its energy-intensive industries. The country's refining sector and transportation industry are major consumers of crude oil.

6. Netherlands

The Netherlands stands as the sixth-largest import market for crude oil globally. In 2022, the country imported crude oil worth $70.0 billion. Positioned as a major trading hub and home to one of the largest ports in the world, the Netherlands serves as a critical transit point for crude oil shipments to other European countries.

7. Germany

Germany ranks seventh in terms of crude oil import value, with imports worth $61.1 billion in 2022. As Europe's largest economy, Germany heavily relies on crude oil imports to fuel its industries, including manufacturing, transportation, and power generation. It plays a crucial role in driving the country's robust economic growth.

8. Spain

Spain secures the eighth spot as a significant importer of crude oil, with an import value of $47.7 billion in 2022. Like other European countries, Spain's industrial and transportation sectors are major consumers of crude oil. The country's strategic geographical location enables it to efficiently import and distribute crude oil across Europe.

9. United Arab Emirates

The United Arab Emirates (UAE) stands out among the leading import markets for crude oil, ranking ninth globally. In 2022, the country imported crude oil worth $45.4 billion. Despite being a prominent producer of crude oil, the UAE's domestic consumption exceeds its production capacity, leading to a reliance on imports to meet its growing energy demand.

10. Italy

Italy concludes the list of the world's top importers of crude oil, with imports valued at $44.8 billion in 2022. Italy relies heavily on crude oil imports to support its energy-dependent industries, including petrochemicals, refining, and transportation. The country's strategic location in the Mediterranean makes it a vital transit point for oil shipments in the region.

These figures, highlighting the world's best import markets for crude oil, demonstrate the indispensable role of crude oil in driving global economies. For further detailed and comprehensive market intelligence, the IndexBox market intelligence platform provides valuable insights into various industries, including the energy and oil sectors.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global crude oil market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2024
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2024
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms, 2012–2024
      3. Market Value, 2012–2024
      4. Per Capita Consumption, By Country, 2018–2024
      5. Production, In Physical Terms, By Country, 2012–2024
      6. Imports, In Physical Terms, By Country, 2012–2024
      7. Imports, In Value Terms, By Country, 2012–2024
      8. Import Prices, By Country Of Destination, 2012–2024
      9. Exports, In Physical Terms, By Country, 2012–2024
      10. Exports, In Value Terms, By Country, 2012–2024
      11. Export Prices, By Country Of Origin, 2012–2024

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2024
      2. Market Value, 2012–2024
      3. Consumption, By Country, 2024
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2024
      18. Production, In Value Terms, 2012–2024
      19. Production, By Country, 2024
      20. Production, In Physical Terms, By Country, 2012–2024
      21. Imports, In Physical Terms, 2012–2024
      22. Imports, In Value Terms, 2012–2024
      23. Imports, In Physical Terms, By Country, 2024
      24. Imports, In Physical Terms, By Country, 2012–2024
      25. Imports, In Value Terms, By Country, 2012–2024
      26. Import Prices, By Country, 2012–2024
      27. Exports, In Physical Terms, 2012–2024
      28. Exports, In Value Terms, 2012–2024
      29. Exports, In Physical Terms, By Country, 2024
      30. Exports, In Physical Terms, By Country, 2012–2024
      31. Exports, In Value Terms, By Country, 2012–2024
      32. Export Prices, 2012–2024

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