Central Asia: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Central Asia

In 2022, the Central Asian market for processed petroleum oils and distillates increased by 0.5% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a slight reduction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Processed Petroleum Oils and Distillates in Central Asia

In value terms, processed petroleum oils and distillates production shrank to $X in 2022 estimated in export price. Overall, production recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 23%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports in Central Asia

In 2022, processed petroleum oils and distillates exports in Central Asia reduced remarkably to X tons, waning by -20.2% against the previous year. In general, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 76% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports declined remarkably to $X in 2022. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 174% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Kazakhstan (X tons) represented the largest exporter of processed petroleum oils and distillates, generating 68% of total exports. Turkmenistan (X tons) held the second position in the ranking, distantly followed by Kyrgyzstan (X tons). All these countries together took approx. 29% share of total exports. Uzbekistan (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to processed petroleum oils and distillates exports from Kazakhstan stood at -7.3%. At the same time, Kyrgyzstan (+6.2%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +6.2% from 2012-2022. By contrast, Uzbekistan (-15.5%) and Turkmenistan (-50.0%) illustrated a downward trend over the same period. While the share of Turkmenistan (+24 p.p.), Kyrgyzstan (+3.5 p.p.) and Uzbekistan (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-29.5 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X), Turkmenistan ($X) and Kyrgyzstan ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 96% of total exports. These countries were followed by Uzbekistan, which accounted for a further 4.5%.

Uzbekistan, with a CAGR of +3.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, declining by -8% against the previous year. Over the period under review, the export price continues to indicate a perceptible downturn. The growth pace was the most rapid in 2021 when the export price increased by 56%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+22.7%), while the other leaders experienced a decline in the export price figures.

Imports of Processed Petroleum Oils and Distillates

Imports in Central Asia

In 2022, supplies from abroad of processed petroleum oils and distillates increased by 6.9% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, processed petroleum oils and distillates imports expanded notably to $X in 2022. Over the period under review, imports, however, saw a mild downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Kyrgyzstan (X tons), distantly followed by Mongolia (X tons), Kazakhstan (X tons), Uzbekistan (X tons) and Tajikistan (X tons) were the main importers of processed petroleum oils and distillates, together comprising 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest processed petroleum oils and distillates importing markets in Central Asia were Kyrgyzstan ($X), Mongolia ($X) and Kazakhstan ($X), with a combined 73% share of total imports. Uzbekistan and Tajikistan lagged somewhat behind, together accounting for a further 26%.

Uzbekistan, with a CAGR of +9.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 when the import price increased by 23%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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