Latin America and the Caribbean: Petroleum Market 2020

Petroleum Market Size in Latin America and the Caribbean

The revenue of the petroleum market in Latin America and the Caribbean amounted to $X in 2017, increasing by X% against the previous year. The total market indicated a measured expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2011, with an increase of X% against the previous year. The level of petroleum consumption peaked of $X in 2013; however, from 2014 to 2017, it failed to regain its momentum.

Petroleum Production in Latin America and the Caribbean

The petroleum production stood at X tons in 2017, falling by -X% against the previous year. The petroleum production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012, when it surged by X% y-o-y. Over the period under review, the petroleum production attained its peak figure volume of X tons in 2016, and then declined slightly in the following year.

Petroleum Exports

Exports in Latin America and the Caribbean

In 2017, exports of petroleum in Latin America and the Caribbean totaled X tons, growing by X% against the previous year. The petroleum exports continue to indicate a deep deduction. The most prominent rate of growth was recorded in 2012, when exports increased by X% y-o-y. The volume of exports peaked of X tons in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

In value terms, petroleum exports amounted to $X in 2017. The petroleum exports continue to indicate a deep downturn. Over the period under review, the petroleum exports reached its maximum level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Exports by Country

Venezuela (X tons), Colombia (X tons), Peru (X tons), Brazil (X tons), Mexico (X tons), Trinidad and Tobago (X tons) and Ecuador (X tons) represented roughly X% of total exports of petroleum in 2017.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Peru (+X% per year), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest petroleum markets worldwide were Venezuela ($X), Peru ($X) and Mexico ($X), together comprising X% of total exports.

Peru (+X% per year) experienced the highest rates of growth with regard to exports, in terms of the main exporting countriesover the last decade, while the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The petroleum export price in Latin America and the Caribbean stood at $X per ton in 2017, going up by X% against the previous year. The export price indicated a slight growth from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2011, an increase of X% y-o-y. The level of export price peaked of $X per ton in 2013; however, from 2014 to 2017, it failed to regain its momentum.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Mexico ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Trinidad and Tobago (+X% per year), while the other leaders experienced more modest paces of growth.

Petroleum Imports

Imports in Latin America and the Caribbean

In 2017, the amount of petroleum imported in Latin America and the Caribbean amounted to X tons, jumping by X% against the previous year. The total imports indicated a prominent expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the petroleum imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2017, when imports increased by X% year-to-year. In that year, the petroleum imports reached their peak volume, and are likely to continue its growth in the immediate term.

In value terms, petroleum imports totaled $X in 2017. The petroleum imports continue to indicate a strong expansion. Over the period under review, the petroleum imports attained its peak figure level of $X in 2013; however, from 2014 to 2017, it failed to regain its momentum.

Imports by Country

Mexico represented the key importing country with an import of around X tons, which amounted to X% of total imports. Brazil (X tons) occupied the second position in the ranking, distantly followed by Jamaica (X tons), Panama (X tons), Chile (X tons) and Colombia (X tons). All these countries together occupied near X% share of total imports. Peru (X tons), Guatemala (X tons), Venezuela (X tons), the Dominican Republic (X tons), Argentina (X tons) and Ecuador (X tons) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to petroleum imports into Mexico stood at +X%. At the same time, Panama (+X%), Colombia (+X%), Peru (+X%), the Dominican Republic (+X%), Brazil (+X%), Ecuador (+X%), Argentina (+X%) and Guatemala (+X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest growing importer in Latin America and the Caribbean, with a CAGR of +X% from 2007-2017. Venezuela experienced a relatively flat trend pattern. By contrast, Chile (-X%) and Jamaica (-X%) illustrated a downward trend over the same period. While the share of Jamaica (X%) increased significantly in terms of the global imports from 2007-2017, the share of the Dominican Republic (-X%), Peru (-X%), Colombia (-X%), Panama (-X%), Brazil (-X%) and Mexico (-X%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported petroleum in Latin America and the Caribbean, making up X% of global imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of global imports. It was followed by Panama, with a X% share.

From 2007 to 2017, the average annual rate of growth in terms of value in Mexico amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and Panama (+X% per year).

Import Prices by Country

In 2017, the petroleum import price in Latin America and the Caribbean amounted to $X per ton, going up by X% against the previous year. The petroleum import price continues to indicate a mild setback. The pace of growth appeared the most rapid in 2008, an increase of X% y-o-y. The level of import price peaked of $X per ton in 2011; however, from 2012 to 2017, it failed to regain its momentum.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Chile ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Argentina (-X% per year), while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform