Refined petroleum right now serves as a backbone for modern economies due to its divergent application over different industries for electricity generation, industrial energy resources, and powering of the transportation factors making it a globally sought commodity. The Philippines has been highly reliant on this globally sought commodity for its energy needs; a factor attributing to its higher import rate is the limited domestic production capabilities of the nation. The product serves as a boon to the petrochemical industry because of its raw material-like nature in the production of petrochemicals for the manufacturing of different plastic and synthetic products.

The country’s rapid growth in energy demands due to increasing consumption rates over different sectors and rapid urbanization of the country’s central areas leads to a higher import rate of refined petroleum. The strategic import trade value of this globally sought commodity has stood up at a position of 18 billion US dollars in 2023.

Top Refined Petroleum Import of Philippines in 2023

The heavily reliant economy of the Philippines on Petroleum products has imported a wide variety of refined petroleum from different top traders across the globe with affordable trade rates for stable economic growth. As per the Philippines Refined Petroleum Import Data, the top 10 imports of the nation in 2023 with its trade values are discussed below,

• Diesel – The import trade rate of Diesel in Philippines 2023 – 13 billion US dollars.

• Gasoline – The import trade rate of Gasoline in the Philippines 2023 – 8 billion US dollars.

• LPG – The import trade rate of LPG in the Philippines 2023 – 5 billion US dollars.

• Kerosene – The import trade rate of Kerosene in the Philippines 2023 – 3 billion US dollars.

• Fuel Oil – The import trade rate of Fuel Oil in the Philippines 2023 – 2 billion US dollars.

• Lubricants – The import trade rate of Lubricants in the Philippines 2023 – 1 billion US dollars.

• Jet Fuel – The import trade rate of Jet Fuel in the Philippines 2023 – 800 million US dollars.

• Naphtha – The import trade rate of Naphtha in Philippines 2023 – 600 million US dollars.

• Bitumen – The import trade rate of Bitumen in the Philippines 2023 – 500 million US dollars.

• Petroleum Coke – The import trade rate of Petroleum Coke in the Philippines 2023 – 400 million US dollars.

Top 10 Import Partners of the Philippines for Refined Petroleum Import

The Philippines Refined Petroleum Customs Shipment Data enlists the below-mentioned as the top import trade partners of the nation in 2023,

• Saudi Arabia – According to the Saudi Arabia Export Data, the value of refined petroleum import of the Philippines from Saudi Arabia in 2023 – 11 billion US dollars.

Import Varieties of Philippines Refined Petroleum

1. Regular Unleaded Gasoline
2. E10 Gasoline
3. Low-Sulfur Diesel
4. Ultra-Low-Sulfur Diesel
5. E20 Gasoline

• South Korea – According to the South Korea Export Data, the value of refined petroleum import of the Philippines from South Korea in 2023 – 7 billion US dollars.

Import Varieties of Philippines Refined Petroleum

1. Industrial Diesel Oil
2. AvGas
3. Military Jet Fuel
4. Biodiesel Blends
5. Industrial Diesel Oil

• Singapore – According to the Singapore Export Data, the value of refined petroleum import of the Philippines from Singapore in 2023 – 5 billion US dollars.

Import Varieties of Philippines Refined Petroleum

1. Low-Sulfur Fuel Oil
2. Household Kerosene
3. Butane-Dominant LPG
4. Residual Fuel Oil
5. Automotive Lubricants

• Japan – According to the Japan Export Data, the value of refined petroleum import of the Philippines from Japan in 2023 – 3 billion US dollars.

Import Varieties of Philippines Refined Petroleum

1. Marine Lubricants
2. Propane-Dominant LPG
3. Industrial Lubricants
4. Road-Grade Asphalt
5. Industrial Bitumen

• Malaysia – According to the Malaysia Export Data, the value of refined petroleum import of the Philippines from Malaysia in 2023 – 1 billion US dollars.

Import Varieties of Philippines Refined Petroleum

1. Biodiesel Blends
2. Ethanol Blends with Gasoline
3. Petroleum Ether
4. Heavy Naphtha
5. Industrial Bitumen

• Thailand – According to the Thailand Export Data, the value of refined petroleum import of the Philippines from Thailand in 2023 – 870 million US dollars.

Import Varieties of Philippines Refined Petroleum

1. Petroleum Coke
2. Petroleum Jelly
3. Industrial Lubricants
4. Marine Lubricants
5. Ultra-Low-Sulfur Diesel

• China – According to the China Export Data, the value of refined petroleum import of the Philippines from China in 2023 – 710 million US dollars.

Import Varieties of Philippines Refined Petroleum

1. Regular Unleaded Gasoline
2. Low-Sulfur Diesel
3. Jet A-1 Fuel
4. Standard Kerosene
5. Residual Fuel Oil

• Taiwan – According to the Taiwan Export Data, the value of refined petroleum import of the Philippines from Taiwan in 2023 – 600 million US dollars.

Import Varieties of Philippines Refined Petroleum

1. Premium Unleaded Gasoline
2. Ultra-Low-Sulfur Diesel
3. Household Kerosene
4. Bunker Fuel
5. Butane-Dominant LPG

• Vietnam – According to the Vietnam Export Data, the value of refined petroleum import of the Philippines from Vietnam in 2023 – 500 million US dollars.

Import Varieties of Philippines Refined Petroleum

1. Industrial Diesel Oil
2. Military Jet Fuel
3. Automotive Lubricants
4. Mineral Spirits
5. Petroleum Ether

• Indonesia – According to the Indonesia Export Data, the value of refined petroleum import of the Philippines from Indonesia in 2023 – 350 million US dollars.

Import Varieties of Philippines Refined Petroleum

1. Ethanol Blends with Gasoline
2. Petroleum Jelly
3. White Spirit
4. Paraffin Wax
5. Residual Fuel Oil

Import Trade Statistics of the Philippines' Refined Petroleum Import for the Last 10 Years

1. Import trade value of refined petroleum in the Philippines (2013) – 12.7 billion US dollars.

2. Import trade value of refined petroleum in the Philippines (2014) – 9.8 billion US dollars.

3. Import trade value of refined petroleum in the Philippines (2015) – 10.6 billion US dollars.

4. Import trade value of refined petroleum in the Philippines (2016) – 11 billion US dollars.

5. Import trade value of refined petroleum in the Philippines (2017) – 12.98 billion US dollars.

6. Import trade value of refined petroleum in the Philippines (2018) – 13 billion US dollars.

7. Import trade value of refined petroleum in the Philippines (2019) – 13.56 billion US dollars.

8. Import trade value of refined petroleum in the Philippines (2020) – 14 billion US dollars.

9. Import trade value of refined petroleum in the Philippines (2021) – 13.89 billion US dollars.

10. Import trade value of refined petroleum in the Philippines (2022) – 15 billion US dollars.

FAQ’s

Que. What is the import trade value of Philippine refined petroleum in 2013?
Ans. The import trade value of the Philippine’s refined petroleum in 2013 is 18 billion US dollars.

Que. Who is the top import trade partner of the Philippines for Refined Petroleum’s import?
Ans. Saudi Arabia is the top import trade partner of the Philippines for Refined Petroleum’s import.

Que. Where can you get a detailed trade analysis of the Philippine refined petroleum import in 2023?
Ans. At Import Globals, you can get a detailed trade analysis of the Philippines Refined Petroleum’s Imports in 2023.

www.importglobals.com ; info@importglobals.com