Bolivia: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Bolivia

In 2022, the Bolivian market for processed petroleum oils and distillates increased by 32% to $X, rising for the second year in a row after six years of decline. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.4% against 2020 indices. Processed petroleum oils and distillates consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Processed Petroleum Oils and Distillates in Bolivia

In value terms, processed petroleum oils and distillates production contracted modestly to $X in 2022 estimated in export price. In general, production showed a pronounced slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5.5%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Bolivia

In 2022, approx. X tons of processed petroleum oils and distillates were exported from Bolivia; leveling off at the previous year's figure. Overall, exports, however, recorded a sharp contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 42% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Panama (X tons) and Ecuador (X tons) were the main destinations of processed petroleum oils and distillates exports from Bolivia, together accounting for 67% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of -23.2%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for processed petroleum oils and distillates exported from Bolivia were Spain ($X), Panama ($X) and Ecuador ($X), together comprising 67% of total exports.

Ecuador, with a CAGR of +71.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per kg, surging by 111% against the previous year. In general, the export price posted a significant increase. The pace of growth was the most pronounced in 2021 an increase of 74,785%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Peru ($X per kg) and Chile ($X per kg), while the average price for exports to the United States ($X per kg) and Paraguay ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+123.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Bolivia

Processed petroleum oils and distillates imports into Bolivia soared to X tons in 2022, with an increase of 94% compared with the previous year. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 145% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Overall, imports enjoyed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 145% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of processed petroleum oils and distillates to Bolivia, with a 71% share of total imports. Moreover, processed petroleum oils and distillates imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Argentina (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Chile stood at +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.4% per year) and Argentina (+4.0% per year).

In value terms, Chile ($X) constituted the largest supplier of processed petroleum oils and distillates to Bolivia, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Brazil, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile totaled +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.6% per year) and Brazil (-2.1% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, remaining constant against the previous year. Overall, the import price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2018 an increase of 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform