Tanzania: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Tanzania

The Tanzanian market for processed petroleum oils and distillates surged to $X in 2022, increasing by 75% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a buoyant expansion. Processed petroleum oils and distillates consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Processed Petroleum Oils and Distillates

Exports from Tanzania

In 2022, shipments abroad of processed petroleum oils and distillates decreased by -3.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.5% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 88% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports fell notably to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 125% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Uganda (X tons) was the main destination for processed petroleum oils and distillates exports from Tanzania, accounting for a 41% share of total exports. Moreover, processed petroleum oils and distillates exports to Uganda exceeded the volume sent to the second major destination, Zambia (X tons), twofold. Kenya (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+15.8% per year) and Kenya (-1.0% per year).

In value terms, Zambia ($X), Uganda ($X) and Kenya ($X) were the largest markets for processed petroleum oils and distillates exported from Tanzania worldwide, together accounting for 67% of total exports.

Zambia, with a CAGR of +13.5%, recorded the highest growth rate of the value of exports, in terms of 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 ton, with a decrease of -24.9% against the previous year. Over the period under review, the export price showed a mild decline. The most prominent rate of growth was recorded in 2021 an increase of 108%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Zambia ($X per ton), while the average price for exports to Uganda ($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 Burundi (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Tanzania

In 2022, imports of processed petroleum oils and distillates into Tanzania soared to X tons, rising by 75% compared with the previous year. In general, imports saw prominent growth. The growth pace was the most rapid in 2019 when imports increased by 141% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 167% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, India (X tons) was the main processed petroleum oils and distillates supplier to Tanzania, with a approx. 96% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +20.2%.

In value terms, India ($X) constituted the largest supplier of processed petroleum oils and distillates to Tanzania.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +16.4%.

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2015 an increase of 62% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -1.8% per year.

Source: IndexBox Platform