# HS 270900 Petroleum Oils And Oils Obtained Fro global trade...

Reported global trade in petroleum oils and oils obtained from bituminous minerals, crude reached $1.3T in 2024, with five-year annual growth of +3%.

## Annual trade evidence

| Year | Global trade | Year-on-year growth | 3-year growth |
| --- | --- | --- | --- |
| 2013 | $1.6T | -6.2% | +10.7% |
| 2014 | $1.4T | -7.9% | -3.2% |
| 2015 | $784.3B | -45.7% | -22.3% |
| 2016 | $659.4B | -15.9% | -25.1% |
| 2017 | $867.5B | +31.6% | -15.7% |
| 2018 | $1.2T | +33.6% | +13.9% |
| 2019 | $1.1T | -6.8% | +17.9% |
| 2020 | $705.7B | -34.7% | -6.7% |
| 2021 | $1.0T | +48.1% | -3.4% |
| 2022 | $1.5T | +48.2% | +12.8% |
| 2023 | $1.3T | -14.2% | +23.5% |
| 2024 | $1.3T | -5.6% | +6.3% |

## Leading buyer markets

| Buyer market | Latest imports | 5-year growth | Suppliers |
| --- | --- | --- | --- |
| China | $291.6B | +5.2% | 46 |
| USA | $165.0B | +5.6% | 43 |
| India | $130.1B | +5.5% | 36 |
| Republic of Korea | $76.4B | +1.5% | 37 |
| Japan | $63.2B | -4% | 22 |
| Netherlands | $49.2B | -0.2% | 68 |
| Italy | $38.9B | +1.1% | 45 |
| Germany | $38.8B | +2.8% | 51 |
| Spain | $34.4B | +4.1% | 37 |
| United Kingdom | $30.0B | +5.1% | 36 |
| Thailand | $28.4B | +4.8% | 31 |
| Singapore | $27.1B | +0.7% | 49 |

_Source: reported merchandise trade data. Updated 2026-08-14._