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China overtake USA on Crude Oil Imports

China overtake USA on Crude Oil Imports

Global purchases of imported crude oil totaled US$803.1 billion in 2015.

Overall, the value of crude oil imports for all importing countries was down by an average -51.6% since 2011 when crude oil purchases were valued at $1.659 trillion.

The 4-digit Harmonized Tariff System code prefix for crude oil is 2709.

Among continents, Asian countries accounted for the highest dollar worth of imported crude oil during 2015 with purchases valued at $379.5 billion or 47.3% of the global total. In second place were European Union members at 29.2% while 18.1% of worldwide crude oil imports were delivered to North America.

The 4-digit Harmonized Tariff System code prefix for crude oil is 2709.

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Crude Oil Imports by Country

  • Top 15
  • China
  • USA
  • India

Below are the 15 countries that imported the highest dollar value worth of crude oil during 2015:

  1. China: US$134.3 billion (16.7% of global crude oil imports)
  2. United States: $132.6 billion (16.5%)
  3. India: $72.3 billion (9%)
  4. South Korea: $55.1 billion (6.9%)
  5. Japan: $45 billion (5.6%)
  6. Germany: $36.4 billion (4.5%)
  7. Netherlands: $35.4 billion (4.4%)
  8. Spain: $24.8 billion (3.1%)
  9. Italy: $23.7 billion (3%)
  10. France: $22.9 billion (2.8%)
  11. Thailand: $19.5 billion (2.4%)
  12. United Kingdom: $18.4 billion (2.3%)
  13. Singapore: $18.2 billion (2.3%)
  14. Taiwan: $16.1 billion (2%)
  15. Belgium: $14.8 billion (1.8%)

The listed 15 countries purchased 83.4% of all crude oil imports in 2015 (by value).

Among the above countries, the fastest-declining crude oil importers since 2011 were: Japan (down -68.3%), United States (down -61.3%), United Kingdom (down -59.4%) and Italy (down -59%).

Not one of these top importers experienced a boost in the value of their crude oil purchases from 2011 to 2015.

Crude Oil Imports into China

Below are the top 15 suppliers from which China imported the highest dollar value worth of crude oil during 2015. Within parenthesis is the percentage change in value for each supplier since 2011.

  1. Saudi Arabia: $20.8 billion (down -46.7%)
  2. Russia: $17.2 billion (up 5.7%)
  3. Angola: $15.9 billion (down -35.9%)
  4. Oman: $14 billion (up 1.1%)
  5. Iraq: $12.7 billion (up 21.4%)
  6. Iran: $10.7 billion (down -50.8%)
  7. Kuwait: $5.7 billion (down -22.3%)
  8. Brazil: $5.3 billion (up 8.6%)
  9. United Arab Emirates: $5.1 billion (down -7%)
  10. Venezuela: $5.1 billion (down -30.3%)
  11. Colombia: $3.1 billion (up 92.2%)
  12. Sudan (North + South): $2.9 billion (down -69.4%)
  13. Congo: $2.3 billion (down -46.9%)
  14. Kazakhstan: $1.9 billion (down -78.7%)
  15. Australia: $1 billion (down -69.4%)

Crude Oil Imports into the United States

Below are the top 15 suppliers from which the US imported the highest dollar value worth of crude oil during 2015. Within parenthesis is the percentage change in value for each supplying country since 2011.

  1. Canada: $49.9 billion (down -27.9%)
  2. Saudi Arabia: $21.7 billion (down -54%)
  3. Venezuela: $13.7 billion (down -63.8%)
  4. Mexico: $12.8 billion (down -68%)
  5. Colombia: $7.4 billion (down -49.9%)
  6. Iraq: $4.6 billion (down -73.7%)
  7. Kuwait: $4.5 billion (down -41.8%)
  8. Ecuador: $4.4 billion (down -41.2%)
  9. Brazil: $3.9 billion (down -58.9%)
  10. Angola: $2.6 billion (down -80.2%)
  11. Nigeria: $1.4 billion (down -95.8%)
  12. Chad: $1.3 billion (down -58.6%)
  13. Indonesia: $799.3 million (up 7.2%)
  14. Russia: $785.7 million (down -91.1%)
  15. Argentina: $460.1 million (down -58.8%)

Crude Oil Imports into India

Below are the top 15 suppliers from which India imported the highest dollar value worth of crude oil during 2015. Within parenthesis is the percentage change in value for each supplying country since 2011.

  1. Saudi Arabia: $14.8 billion (down -37%)
  2. Iraq: $11.2 billion (down -35.2%)
  3. Nigeria: $9.2 billion (down -27.6%)
  4. Venezuela: $6.6 billion (up 9.8%)
  5. United Arab Emirates: $6.2 billion (down -42.2%)
  6. Kuwait: $4.6 billion (down -63.6%)
  7. Iran: $4.1 billion (down -56.4%)
  8. Angola: $3 billion (down -48.7%)
  9. Mexico: $1.8 billion (up 31%)
  10. Qatar: $1.5 billion (down -68.3%)
  11. Malaysia: $1.4 billion (down -25.5%)
  12. Brazil: $1.3 billion (down -38.8%)
  13. Egypt: $968 million (down -56.2%)
  14. Cameroon: $665.5 million (up 125%)
  15. Brunei Darussalam: $603.2 million (down -13.9%)
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