UN Comtrade • Latest complete year: 2024
27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS 27)
Global exports
$2.19T
Global imports
$2.89T
Top exporter share
14.6%
Top importer share
17.5%
- In 2024, global exports of Mineral fuels, oils & waxes reached $2.19T.
- Global imports for the same period were valued at $2.89T.
- The United States was the leading exporter, with exports valued at $320.1B, representing a 14.6% share of the global market.
- China was the largest importer, accounting for 17.5% of total imports with a value of $504.0B.
- The top three exporting nations—the United States, Saudi Arabia, and Canada—collectively accounted for 31.2% of all exports.
- Key importers include China, the United States, and India, which together represented 33.7% of global import demand.
Global Trade in 2024
The global market for Mineral fuels, oils, and waxes (HS2 27) saw significant trade activity in 2024. Total exports reached $2.19T, while imports amounted to $2.89T. This category covers essential energy products including crude oil, refined petroleum, natural gas, and coal, which are fundamental to the global economy.
Top Trading Nations
The United States led global exports with a total of $320.1B, making up 14.6% of the market. Other major exporters included Saudi Arabia, with $223.4B in exports, and Canada, with $140.7B. On the import side, China was the dominant market, importing goods worth $504.0B, or 17.5% of the total. Following China were the United States ($251.1B) and India ($217.9B).
Primary Sub-Products
The trade within HS2 27 is driven by several key sub-categories (at the HS4 level). The most significant by export value are crude petroleum oils (2709), refined petroleum oils (2710), and petroleum gases (2711). These three groups represent the vast majority of the value traded within this chapter, highlighting their critical role in global energy supply chains.
Quick insights
- USA is the top exporter (14.6% of reported exports).
- China is the top importer (17.5% of reported imports).
- Top 3 exporter concentration: 31.2%.
- Top 5 exporter concentration: 41.4%.
Notes: Shares are relative to reported totals in the dataset for the selected year.
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Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes - product groups (4-digit) by top countries (Exports), 2024 (USD)
Top 10 countries with the leading 6 product groups (4-digit); remainder grouped as Other.
Flow: Exports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes - country rank by trade value (Exports), 2015-2024 (USD)
Ranks show the top 10 countries by latest-year value (rank 1 is largest).
Flow: Exports | Years: 2015-2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
Global export trend
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes - exports over time (Exports), 2015-2024 (USD)
Annual reported exports across available years.
Flow: Exports | Years: 2015-2024 | Unit: USD | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
HS4 drilldown
Built: 2026-01-12T08:07:46Z • Snapshot: 20251222
HS4 subcategories within HS 27 for 2024 (partner = World). Values are summed across reporting economies; coverage varies by reporter and year.
Exports
Coverage vs HS2: 98.9%
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes - top 4-digit product groups by export share (Exports), 2024 (USD)
Leading 4-digit product groups by export value.
Flow: Exports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
| HS4 | Subcategory | Value | Share |
|---|---|---|---|
| 2709 | Petroleum oils and oils obtaine… | $800.85B | 36.5% |
| 2710 | Petroleum oils and oils from bi… | $766.53B | 35.0% |
| 2711 | Petroleum gases and other gaseo… | $335.33B | 15.3% |
| 2701 | Coal; briquettes, ovoids and si… | $128.31B | 5.9% |
| 2716 | Electrical energy | $56.50B | 2.6% |
| 2707 | Oils and other products of the… | $36.72B | 1.7% |
| 2713 | Petroleum coke, petroleum bitum… | $18.19B | 0.8% |
| 2704 | Coke and semi-coke; of coal, li… | $9.65B | 0.4% |
| 2702 | Lignite; whether or not agglome… | $7.79B | 0.4% |
| 2712 | Petroleum jelly; paraffin wax,… | $3.81B | 0.2% |
| 2703 | Peat; (including peat litter),… | $1.78B | 0.1% |
| 2708 | Pitch and pitch coke; obtained… | $991.10M | 0.0% |
Subcategory names are truncated; hover to see the full description.
Fastest-growing HS4 (CAGR 2019–2024)
Filter: start-year value ≥ $1.00M
| HS4 | Subcategory | CAGR | 2024 value |
|---|---|---|---|
| 2702 | Lignite; whether or not agglome… | 16.6% | $7.79B |
| 2716 | Electrical energy | 10.9% | $56.50B |
| 2707 | Oils and other products of the… | 6.6% | $36.72B |
| 2703 | Peat; (including peat litter),… | 5.7% | $1.78B |
| 2704 | Coke and semi-coke; of coal, li… | 5.5% | $9.65B |
| 2712 | Petroleum jelly; paraffin wax,… | 4.7% | $3.81B |
| 2711 | Petroleum gases and other gaseo… | 4.1% | $335.33B |
| 2706 | Tar distilled from coal, from l… | 3.4% | $715.23M |
Imports
Coverage vs HS2: 98.3%
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes - top 4-digit product groups by import share (Imports), 2024 (USD)
Leading 4-digit product groups by import value.
Flow: Imports | Year: 2024 | Unit: USD | Snapshot: 20251222 | Source: UN Comtrade
Generated by TradeVedia.comSource: UN Comtrade
| HS4 | Subcategory | Value | Share |
|---|---|---|---|
| 2709 | Petroleum oils and oils obtaine… | $1.29T | 44.8% |
| 2710 | Petroleum oils and oils from bi… | $786.56B | 27.2% |
| 2711 | Petroleum gases and other gaseo… | $450.42B | 15.6% |
| 2701 | Coal; briquettes, ovoids and si… | $164.11B | 5.7% |
| 2716 | Electrical energy | $59.50B | 2.1% |
| 2707 | Oils and other products of the… | $23.98B | 0.8% |
| 2713 | Petroleum coke, petroleum bitum… | $23.72B | 0.8% |
| 2702 | Lignite; whether or not agglome… | $12.22B | 0.4% |
| 2704 | Coke and semi-coke; of coal, li… | $9.18B | 0.3% |
| 2715 | Bituminous mixtures based on na… | $4.82B | 0.2% |
| 2712 | Petroleum jelly; paraffin wax,… | $3.77B | 0.1% |
| 2703 | Peat; (including peat litter),… | $1.96B | 0.1% |
Subcategory names are truncated; hover to see the full description.
Fastest-growing HS4 (CAGR 2019–2024)
Filter: start-year value ≥ $1.00M
| HS4 | Subcategory | CAGR | 2024 value |
|---|---|---|---|
| 2715 | Bituminous mixtures based on na… | 23.3% | $4.82B |
| 2702 | Lignite; whether or not agglome… | 20.5% | $12.22B |
| 2716 | Electrical energy | 12.3% | $59.50B |
| 2706 | Tar distilled from coal, from l… | 8.6% | $376.80M |
| 2711 | Petroleum gases and other gaseo… | 6.8% | $450.42B |
| 2701 | Coal; briquettes, ovoids and si… | 5.3% | $164.11B |
| 2709 | Petroleum oils and oils obtaine… | 3.9% | $1.29T |
| 2710 | Petroleum oils and oils from bi… | 3.7% | $786.56B |
Explore country profiles
Jump from this HS2 product to the country trade pages for the largest exporters and importers.
Top exporters
Top trade routes
Top exporter → importer routes among the largest exporters (bounded at build-time).
| Exporter | Importer | Value | Share of exports |
|---|---|---|---|
| Canada (CAN) | USA (USA) | $125.67B | 5.7% |
| USA (USA) | Mexico (MEX) | $40.94B | 1.9% |
| USA (USA) | Netherlands (NLD) | $35.37B | 1.6% |
| Norway (NOR) | United Kingdom (GBR) | $27.30B | 1.2% |
| USA (USA) | Canada (CAN) | $26.40B | 1.2% |
| Netherlands (NLD) | Germany (DEU) | $22.91B | 1.0% |
| Norway (NOR) | Germany (DEU) | $22.15B | 1.0% |
| Netherlands (NLD) | Belgium (BEL) | $20.83B | 1.0% |
| Brazil (BRA) | China (CHN) | $20.72B | 0.9% |
| Australia (AUS) | Japan (JPN) | $18.97B | 0.9% |
| USA (USA) | Rep. of Korea (KOR) | $18.49B | 0.8% |
| Kazakhstan (KAZ) | Italy (ITA) | $18.41B | 0.8% |
| Qatar (QAT) | China (CHN) | $17.95B | 0.8% |
| Angola (AGO) | China (CHN) | $16.17B | 0.7% |
| Indonesia (IDN) | China (CHN) | $16.11B | 0.7% |
Data notes & methodology
Source: UN Comtrade
Exports total: $2.19T • Imports total: $2.89T
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