# HS 271012 Preparations N.E.C. Containing By We global trade...

Reported global trade in preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils reached $351.6B in 2024, with five-year annual growth of +4.3%.

## Annual trade evidence

| Year | Global trade | Year-on-year growth | 3-year growth |
| --- | --- | --- | --- |
| 2013 | $331.4B | -1.7% | +12.7% |
| 2014 | $328.6B | -0.9% | +1.6% |
| 2015 | $228.8B | -30.4% | -12.1% |
| 2016 | $202.8B | -11.4% | -15.1% |
| 2017 | $245.5B | +21.1% | -9.3% |
| 2018 | $304.9B | +24.2% | +10% |
| 2019 | $284.2B | -6.8% | +11.9% |
| 2020 | $187.8B | -33.9% | -8.6% |
| 2021 | $343.3B | +82.8% | +4% |
| 2022 | $471.6B | +37.4% | +18.4% |
| 2023 | $424.9B | -9.9% | +31.3% |
| 2024 | $351.6B | -17.3% | +0.8% |

## Leading buyer markets

| Buyer market | Latest imports | 5-year growth | Suppliers |
| --- | --- | --- | --- |
| USA | $25.7B | +0.2% | 74 |
| Singapore | $20.6B | +5.7% | 52 |
| Republic of Korea | $18.4B | +9% | 51 |
| Mexico | $15.0B | -3% | 25 |
| United Arab Emirates | $14.1B | -4.3% | 67 |
| Japan | $14.0B | +0.2% | 39 |
| Netherlands | $13.3B | -1.7% | 92 |
| Indonesia | $12.9B | +6.6% | 38 |
| Malaysia | $12.2B | +10.4% | 46 |
| South Africa | $11.2B | +22.8% | 80 |
| China | $10.5B | +1.3% | 54 |
| Saudi Arabia | $10.5B | +30.4% | 42 |

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