Petroleum Jelly Price in Libya - 2022
Contents:
Petroleum Jelly Price in Libya (CIF) - 2022
The average petroleum jelly import price stood at $2,158 per ton in 2022, growing by 3.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 41% against the previous year. As a result, import price reached the peak level of $2,890 per ton. From 2020 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($4,963 per ton), while the price for Turkey ($1,237 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Petroleum Jelly Imports in Libya
In 2022, after three years of growth, there was significant decline in overseas purchases of petroleum jellies, when their volume decreased by -19.1% to 253 tons. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62%. As a result, imports reached the peak of 312 tons, and then declined markedly in the following year.
In value terms, petroleum jelly imports declined remarkably to $545K in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.0% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 49%. As a result, imports attained the peak of $651K, and then contracted notably in the following year.
| Import of Petroleum Jelly in Libya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 276 | 216 | 256 | 249 | -3.4% |
| India | 36.3 | 154 | 318 | 228 | 84.5% |
| Turkey | 22.3 | 20.9 | 54.9 | 46.6 | 27.8% |
| United Kingdom | 64.0 | 37.2 | 4.0 | 3.8 | -61.0% |
| Germany | 6.4 | 5.3 | 4.4 | 3.4 | -19.0% |
| Others | 11.0 | 4.9 | 14.3 | 14.0 | 8.4% |
| Total | 416 | 439 | 651 | 545 | 9.4% |
Top Suppliers of Petroleum Jelly to Libya in 2022:
- India (114.2 tons)
- United Arab Emirates (95.1 tons)
- Turkey (37.6 tons)
- Germany (2.8 tons)
- United Kingdom (0.8 tons)
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