Latest trade
$1.3TGlobal subsector valueHS4 subsector intelligence
Oils
HS4 2709 trade overview
A focused view of this HS4 subsector: market scale, momentum, leading routes, countries, and the HS6 classifications inside it.
The numbers at a glanceLatest reported year · 2024
Annual change
-5.6%Latest year on yearExporters
147Active reporting countriesImporters
171Active reporting countriesHS6 products
1Classifications inside HS4The subsector read
$1.3T in trade, with +6.3% annualized growth over three years.
Oils is recorded across 1,662 active corridors, with 147 exporters and 171 importers.
Annual trend
Subsector momentum over time
Reported global trade from 1995 to 2024. Read the methodology ↗
Top trade corridors
Where the subsector moves
Leading exporter-to-importer relationships by latest reported value. See data sources ↗
Latest reported relationshipsTop 10 by trade value
| Rank | Exporter | Importer | Trade value | Growth | HS6 | Distance | FTA |
|---|---|---|---|---|---|---|---|
| 1 | CanadaCAN | USA, Puerto Rico and US Virgin IslandsUSA | $100.8B | +8.2% | 1 | 556 km | Yes |
| 2 | RussiaRUS | ChinaCHN | $59.9B | +17.1% | 1 | 6,831 km | No |
| 3 | RussiaRUS | IndiaIND | $49.5B | +195.2% | 1 | 4,341 km | No |
| 4 | Saudi ArabiaSAU | ChinaCHN | $45.2B | +1.8% | 1 | 7,253 km | No |
| 5 | IraqIRQ | ChinaCHN | $33.5B | +10.3% | 1 | 7,085 km | No |
| 6 | Saudi ArabiaSAU | Republic of KoreaKOR | $27.9B | +10.1% | 1 | 7,563 km | No |
| 7 | MalaysiaMYS | ChinaCHN | $27.6B | +71.4% | 1 | 3,737 km | Yes |
| 8 | Saudi ArabiaSAU | JapanJPN | $27.1B | +3.2% | 1 | 8,706 km | No |
| 9 | IraqIRQ | IndiaIND | $25.5B | +2.4% | 1 | 3,163 km | No |
| 10 | United Arab EmiratesARE | JapanJPN | $25.4B | +1.4% | 1 | 7,940 km | No |
Market structure
Where supply and demand concentrate
Exporter and importer rankings show the two sides of the subsector separately. Check coverage ↗
| Rank | Country | Exports | Partners | HS6 |
|---|---|---|---|---|
| 1 | Saudi ArabiaSAU | $177.8B | 30 | 1 |
| 2 | RussiaRUS | $126.2B | 22 | 1 |
| 3 | USA, Puerto Rico and US Virgin IslandsUSA | $117.8B | 77 | 1 |
| 4 | CanadaCAN | $107.4B | 26 | 1 |
| 5 | United Arab EmiratesARE | $91.9B | 47 | 1 |
| 6 | IraqIRQ | $89.2B | 22 | 1 |
| 7 | NorwayNOR | $49.9B | 30 | 1 |
| 8 | BrazilBRA | $46.6B | 32 | 1 |
| 9 | KazakhstanKAZ | $39.5B | 35 | 1 |
| 10 | NigeriaNGA | $37.8B | 40 | 1 |
| Rank | Country | Imports | Partners | HS6 |
|---|---|---|---|---|
| 1 | ChinaCHN | $291.6B | 46 | 1 |
| 2 | USA, Puerto Rico and US Virgin IslandsUSA | $165.0B | 43 | 1 |
| 3 | IndiaIND | $130.1B | 36 | 1 |
| 4 | Republic of KoreaKOR | $76.4B | 37 | 1 |
| 5 | JapanJPN | $63.2B | 22 | 1 |
| 6 | NetherlandsNLD | $49.2B | 68 | 1 |
| 7 | ItalyITA | $38.9B | 45 | 1 |
| 8 | GermanyDEU | $38.8B | 51 | 1 |
| 9 | SpainESP | $34.4B | 37 | 1 |
| 10 | United KingdomGBR | $30.0B | 36 | 1 |
HS6 product coverage
The products inside HS4 2709
Six-digit classifications make the subsector specific. Browse the product workspace ↗
1 classifications shownOils
Oils: petroleum oils and oils obtained from bituminous minerals, crudeHS6 270900
Definitions and coverage
Read the numbers with context
Reported observations and calculated indicators should be read with their coverage period. Responsible AI principles ↗
Reported values
Trade values describe reported merchandise trade for the HS4 classification, not company-level sales or shipment records.
Calculated indicators
Growth, concentration, volatility, and peak comparisons are calculated from reported observations.
Missing data
Unavailable observations remain unavailable. They are not filled, interpolated, or presented as forecasts.
Coverage: 1995-2024 · Data refreshed 2026-07-20 09:34:09
Data source
OECD trade statistics with CEPII context
OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-27). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.