Cote d'Ivoire: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Cote d'Ivoire

The Cote d'Ivoire's market for processed petroleum oils and distillates soared to $X in 2022, increasing by 38% against the previous year. In general, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +76.9% against 2017 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Processed Petroleum Oils and Distillates in Cote d'Ivoire

In value terms, processed petroleum oils and distillates production shrank slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced slump. The most prominent rate of growth was recorded in 2015 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Cote d'Ivoire

Processed petroleum oils and distillates exports from Cote d'Ivoire reduced markedly to X tons in 2022, waning by -17.7% compared with the year before. Overall, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 93% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports contracted notably to $X in 2022. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 55%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X tons), the United States (X tons) and France (X tons) were the main destinations of processed petroleum oils and distillates exports from Cote d'Ivoire, with a combined 46% share of total exports. Togo, South Africa, Turkey and Benin lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +148.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), the United States ($X) and Togo ($X) appeared to be the largest markets for processed petroleum oils and distillates exported from Cote d'Ivoire worldwide, together comprising 49% of total exports. France, South Africa, Benin and Turkey lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, South Africa, with a CAGR of +177.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 97%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+12.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates

Imports into Cote d'Ivoire

In 2022, the amount of processed petroleum oils and distillates imported into Cote d'Ivoire skyrocketed to X tons, rising by 333% compared with the previous year. Overall, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of processed petroleum oils and distillates to Cote d'Ivoire, with a 47% share of total imports. It was followed by the Netherlands (X tons), with a 1% share of total imports. The UK (X tons) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+0.1% per year) and the UK (+20.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of processed petroleum oils and distillates to Cote d'Ivoire, comprising 45% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 2% share of total imports. It was followed by the UK, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +35.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.5% per year) and the UK (+28.2% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, with an increase of 61% against the previous year. In general, the import price, however, continues to indicate a perceptible decline. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform