Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore - 2023
Contents:
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (FOB) - 2023
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (CIF) - 2023
- Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore
- Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (FOB) - 2023
The average export price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s stood at $1,295 per ton in September 2022, declining by -7.5% against the previous month. Overall, the export price showed a deep downturn. As a result, the export price attained the peak level of $1,758 per ton. From July 2022 to September 2022, the the average export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In September 2022, the countries with the highest prices were Australia ($1,364 per ton) and Japan ($1,336 per ton), while the average price for exports to Vietnam ($1,224 per ton) and Malaysia ($1,227 per ton) were amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-8.0%), while the prices for the other major destinations experienced a decline.
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (CIF) - 2023
In September 2022, the average import price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s amounted to $1,156 per ton, dropping by -7.1% against the previous month. Overall, the import price saw a deep reduction. As a result, import price reached the peak level of $1,502 per ton. From July 2022 to September 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Kuwait ($1,686 per ton), while the price for Qatar ($950 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+25.9%), while the prices for the other major suppliers experienced a decline.
Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore
In 2022, approx. 29M tons of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s were exported from Singapore; increasing by 20% on 2021 figures. The total export volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak 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 $28.5B in 2022. In general, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 6.2 | 2.8 | 4.6 | 7.4 | 6.1% |
| Malaysia | 4.1 | 2.6 | 3.5 | 6.7 | 17.8% |
| Australia | 0.7 | 0.7 | 2.4 | 3.9 | 77.3% |
| Myanmar | 0.7 | 0.6 | 0.8 | 1.4 | 26.0% |
| Vietnam | 0.1 | 0.1 | 0.2 | 1.1 | 122.4% |
| New Zealand | 0.2 | 0.2 | 0.2 | 1.0 | 71.0% |
| Philippines | 0.5 | 0.4 | 0.8 | 0.9 | 21.6% |
| Pakistan | 0.3 | 0.2 | 0.4 | 0.5 | 18.6% |
| Taiwan (Chinese) | N/A | 0.3 | 0.2 | 0.5 | 29.1% |
| China | 0.6 | 0.3 | 0.1 | 0.5 | -5.9% |
| Thailand | 0.7 | 0.5 | 0.4 | 0.5 | -10.6% |
| Japan | N/A | 0.1 | 0.1 | 0.4 | 100.0% |
| Others | 2.4 | 1.5 | 2.3 | 3.8 | 16.6% |
| Total | 16.6 | 10.1 | 16.1 | 28.5 | 19.7% |
Top Export Markets for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** from Singapore in 2022:
- Indonesia (7.5M tons)
- Malaysia (6.8M tons)
- Australia (3.9M tons)
- Myanmar (1.3M tons)
- Vietnam (1.1M tons)
- Philippines (0.9M tons)
- New Zealand (0.9M tons)
- Taiwan (Chinese) (0.6M tons)
- China (0.6M tons)
- Pakistan (0.5M tons)
- Japan (0.5M tons)
- Thailand (0.5M tons)
Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore
Imports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s into Singapore rose significantly to 26M tons in 2022, increasing by 14% against the previous year's figure. The total import volume increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations 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 $23.5B in 2022. Over the period under review, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Singapore (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.8 | 3.7 | 3.9 | 5.9 | 0.6% |
| South Korea | 0.8 | 0.5 | 1.6 | 3.0 | 55.4% |
| Taiwan (Chinese) | 1.2 | 0.3 | 0.9 | 2.1 | 20.5% |
| United Arab Emirates | 0.6 | 0.7 | 1.3 | 2.0 | 49.4% |
| Malaysia | 1.0 | 1.0 | 1.6 | 2.0 | 26.0% |
| India | 1.2 | 0.7 | 1.1 | 1.7 | 12.3% |
| Brunei Darussalam | 0.1 | 0.4 | 0.8 | 1.4 | 141.0% |
| Qatar | 0.3 | 0.5 | 0.9 | 1.0 | 49.4% |
| Saudi Arabia | 0.8 | 0.5 | 0.6 | 1.0 | 7.7% |
| Thailand | 0.6 | 0.3 | 0.3 | 0.6 | 0.0% |
| Japan | 0.2 | 0.2 | 0.3 | 0.5 | 35.7% |
| Kuwait | 0.3 | 0.3 | 0.3 | 0.4 | 10.1% |
| Others | 1.1 | 0.9 | 1.2 | 1.9 | 20.0% |
| Total | 13.9 | 10.0 | 14.9 | 23.5 | 19.1% |
Top Suppliers of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** to Singapore in 2022:
- China (6.2M tons)
- South Korea (3.0M tons)
- United Arab Emirates (2.4M tons)
- Malaysia (2.4M tons)
- Taiwan (Chinese) (2.1M tons)
- India (2.0M tons)
- Brunei Darussalam (1.6M tons)
- Qatar (1.3M tons)
- Saudi Arabia (1.3M tons)
- Thailand (0.7M tons)
- Japan (0.5M tons)
- Kuwait (0.4M tons)
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