Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India - 2023
Contents:
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (FOB) - 2023
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (CIF) - 2022
- Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India
- Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (FOB) - 2023
The average export price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s stood at $788 per ton in October 2023, reducing by -9.9% against the previous month. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average export price increased by 9.8% month-to-month. Over the period under review, the average export prices hit record highs at $875 per ton in September 2023, and then shrank in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($993 per ton), while the average price for exports to South Korea ($627 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.4%), while the prices for the other major destinations experienced a decline.
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (CIF) - 2022
The average import price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s stood at $842 per ton in 2022, rising by 21% against the previous year. In general, the import price, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 47% against the previous year. Over the period under review, average import prices reached the maximum at $1,009 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($1,087 per ton), while the price for Russia ($603 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-0.2%), while the prices for the other major suppliers experienced a decline.
Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India
Exports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s from India rose remarkably to 30M tons in 2022, with an increase of 5.3% compared with 2021 figures. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55%. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s soared to $28.6B in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 127%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 4.6 | 2.3 | 3.2 | 5.6 | 6.8% |
| United States | 2.2 | 1.1 | 3.0 | 4.9 | 30.6% |
| Indonesia | 0.1 | N/A | 1.6 | 3.6 | 230.2% |
| South Korea | 0.6 | 0.7 | 2.0 | 2.5 | 60.9% |
| Singapore | 1.3 | 0.8 | 1.6 | 2.4 | 22.7% |
| Oman | 0.3 | 0.4 | 0.5 | 1.9 | 85.0% |
| China | 1.5 | 1.1 | 1.7 | 1.9 | 8.2% |
| Taiwan (Chinese) | 0.1 | 0.3 | 0.5 | 1.1 | 122.4% |
| Nepal | 0.3 | 0.2 | 0.4 | 0.6 | 26.0% |
| Iraq | 0.5 | N/A | 0.5 | 0.6 | 6.3% |
| Japan | 0.3 | 0.3 | 0.9 | 0.4 | 10.1% |
| Others | 0.9 | 1.1 | 3.2 | 3.1 | 51.0% |
| Total | 12.6 | 8.5 | 19.2 | 28.6 | 31.4% |
Top Export Markets for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** from India in 2022:
- United Arab Emirates (5.6M tons)
- United States (4.1M tons)
- Indonesia (3.8M tons)
- South Korea (3.2M tons)
- Singapore (2.9M tons)
- China (2.5M tons)
- Oman (1.8M tons)
- Taiwan (Chinese) (1.4M tons)
- Iraq (0.7M tons)
- Nepal (0.6M tons)
- Japan (0.5M tons)
Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India
Imports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s into India soared to 3.2M tons in 2022, growing by 25% compared with the previous year. The total import volume increased at an average annual rate of +4.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s soared to $2.7B in 2022. Over the period under review, imports enjoyed a strong increase. The growth pace was the most rapid in 2021 when imports increased by 63%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 874 | 505 | 608 | 1,209 | 11.4% |
| Singapore | 254 | 155 | 408 | 269 | 1.9% |
| Oman | 178 | 67.9 | 73.6 | 252 | 12.3% |
| Malaysia | 147 | 151 | 159 | 195 | 9.9% |
| Qatar | 79.4 | 67.8 | 185 | 182 | 31.9% |
| China | 64.4 | 13.9 | 23.2 | 165 | 36.8% |
| Kuwait | 0.9 | 45.3 | 79.5 | 155 | 456.4% |
| Saudi Arabia | 26.8 | 40.6 | 19.0 | 115 | 62.5% |
| Russia | 39.7 | N/A | N/A | 87.7 | 30.2% |
| Iraq | N/A | 25.6 | 72.5 | 28.5 | 5.5% |
| Others | 81.7 | 33.3 | 175 | 53.7 | -13.1% |
| Total | 1,745 | 1,105 | 1,802 | 2,712 | 15.8% |
Top Suppliers of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** to India in 2022:
- United Arab Emirates (1561.1K tons)
- Singapore (279.8K tons)
- Oman (268.9K tons)
- Qatar (230.8K tons)
- Kuwait (202.5K tons)
- Malaysia (179.0K tons)
- Russia (145.3K tons)
- Saudi Arabia (133.5K tons)
- China (130.1K tons)
- Iraq (31.8K tons)
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