# HS 271390 Of Petroleum Oils Or Of Oils Obtaine global trade...

Reported global trade in of petroleum oils or of oils obtained from bituminous minerals reached $917.6M in 2024, with five-year annual growth of -3.5%.

## Annual trade evidence

| Year | Global trade | Year-on-year growth | 3-year growth |
| --- | --- | --- | --- |
| 2013 | $1.7B | +11.2% | +29.9% |
| 2014 | $2.1B | +17.8% | +26.5% |
| 2015 | $1.2B | -44% | -9.8% |
| 2016 | $592.4M | -48.7% | -30.3% |
| 2017 | $746.5M | +26% | -28.7% |
| 2018 | $1.1B | +52.5% | -0.5% |
| 2019 | $1.1B | -3.4% | +22.9% |
| 2020 | $766.9M | -30.2% | +0.9% |
| 2021 | $723.1M | -5.7% | -14% |
| 2022 | $1.4B | +96.3% | +8.9% |
| 2023 | $809.7M | -42.9% | +1.8% |
| 2024 | $917.6M | +13.3% | +8.3% |

## Leading buyer markets

| Buyer market | Latest imports | 5-year growth | Suppliers |
| --- | --- | --- | --- |
| Singapore | $312.6M | +31.9% | 8 |
| Malaysia | $309.0M | -6.7% | 6 |
| Nauru | $86.7M | +269.4% | 1 |
| Kazakhstan | $71.7M | +16.8% | 3 |
| Netherlands | $39.5M | -8.8% | 31 |
| Italy | $35.9M | -1.3% | 16 |
| Belgium | $22.1M | +45.1% | 12 |
| Germany | $14.9M | +14.3% | 22 |
| USA | $13.3M | -10.2% | 10 |
| Japan | $12.8M | +67.9% | 7 |
| France | $9.5M | -30.5% | 20 |
| Canada | $8.6M | -0.1% | 3 |

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