Uzbekistan: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Uzbekistan

The Uzbek market for processed petroleum oils and distillates shrank modestly to $X in 2022, declining by -3.8% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Processed petroleum oils and distillates consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Uzbekistan

In value terms, processed petroleum oils and distillates production reduced to $X in 2022 estimated in export price. Overall, production recorded a perceptible descent. The pace of growth was the most pronounced in 2018 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Uzbekistan

In 2022, overseas shipments of processed petroleum oils and distillates increased by 104% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep downturn. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

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

Exports by Country

Kyrgyzstan (X tons) was the main destination for processed petroleum oils and distillates exports from Uzbekistan, with a 60% share of total exports. Moreover, processed petroleum oils and distillates exports to Kyrgyzstan exceeded the volume sent to the second major destination, Ukraine (X tons), sixfold. Kazakhstan (X tons) ranked third in terms of total exports with a 7.7% share.

From 2017 to 2022, the average annual growth rate of volume to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+2.9% per year) and Kazakhstan (-37.3% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for processed petroleum oils and distillates exports from Uzbekistan, comprising 47% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 16% share of total exports. It was followed by Kazakhstan, with a 10% share.

From 2017 to 2022, the average annual rate of growth in terms of value to Kyrgyzstan totaled +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+31.3% per year) and Kazakhstan (-17.9% per year).

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, leveling off at the previous year. In general, the export price recorded significant growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 196% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Azerbaijan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Uzbekistan

For the fourth year in a row, Uzbekistan recorded growth in purchases abroad of processed petroleum oils and distillates, which increased by 9.9% to X tons in 2022. Overall, imports recorded resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 42%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, processed petroleum oils and distillates imports amounted to $X in 2022. In general, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Kazakhstan (X tons) constituted the largest supplier of processed petroleum oils and distillates to Uzbekistan, accounting for a 53% share of total imports. Moreover, processed petroleum oils and distillates imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Kyrgyzstan (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Kazakhstan amounted to +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kyrgyzstan (+69.0% per year) and China (+39.6% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of processed petroleum oils and distillates to Uzbekistan, comprising 25% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by China, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value from Kazakhstan amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+45.4% per year) and China (+32.4% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price showed a pronounced setback. The pace of growth was the most pronounced in 2020 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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