2022
Exports
$83.6BWorld Rnk 13 / 216
Flag Rnk 1 / 96
2022
PRODUCT COMPLEXITY IN Mineral fuels, mineral oils and products of their distillation
0.48Rnk 371 / 1025
2022
Imports
$1.38BWorld Rnk 114 / 225
Flag Rnk 12 / 96
2022
ECONOMIC COMPLEXITY of Kuwait
0.44Rnk 46 / 133

About

Exports In 2022, Kuwait exported $83.6B in Mineral fuels, mineral oils and products of their distillation, making it the 13th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 1st most exported product in Kuwait. The main destination of Mineral fuels, mineral oils and products of their distillation exports from Kuwait are: China ($22B), India ($11.6B), South Korea ($10.7B), Japan ($8.62B), and Chinese Taipei ($6.87B).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of Kuwait between 2021 and 2022 were China ($7.58B), South Korea ($3.48B), and India ($3.03B).

Imports In 2022, Kuwait imported $1.38B in Mineral fuels, mineral oils and products of their distillation, becoming the 114th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 12th most imported product in Kuwait. Kuwait imports Mineral fuels, mineral oils and products of their distillation primarily from: United States ($490M), Nigeria ($477M), United Arab Emirates ($126M), Egypt ($106M), and Saudi Arabia ($27M).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for Kuwait between 2021 and 2022 were Nigeria ($255M), United States ($161M), and Egypt ($65.6M).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Mineral fuels, mineral oils and products of their distillation. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$83.6B
IMPORTS (2022)$1.38B
NET TRADE (2022)$82.2B

In 2022, Kuwait exported $83.6B in Mineral fuels, mineral oils and products of their distillation. The main destinations of Kuwait exports on Mineral fuels, mineral oils and products of their distillation were China ($22B), India ($11.6B), South Korea ($10.7B), Japan ($8.62B), and Chinese Taipei ($6.87B).

In 2022, Kuwait imported $1.38B in Mineral fuels, mineral oils and products of their distillation, mainly from United States ($490M), Nigeria ($477M), United Arab Emirates ($126M), Egypt ($106M), and Saudi Arabia ($27M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR Kuwait WERE (2021 - 2022):
China$7.58B (52.6%)
South Korea$3.48B (48.3%)
India$3.03B (35.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY Kuwait WERE (2021 - 2022):
Ethiopia-$157M (-33.6%)
Indonesia-$118M (-57.1%)
Belgium-$88.8M (-62.8%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Type
In 2022, Kuwait's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:
In 2022, Kuwait's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Trade Value of Mineral fuels, mineral oils and products of their distillation by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALIndia+ $2.39B
TOP IMPORT POTENTIALEgypt+ $28.9M

Mineral fuels, mineral oils and products of their distillation’s highest export potential is India. With an export gap of $2.39B.   Mineral fuels, mineral oils and products of their distillation’s highest import potential is Egypt with an import gap of $28.9M.

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