Slovakia: Market for Crude Oil and Processed Petroleum 2024

Market Size for Crude Oil and Processed Petroleum in Slovakia

In 2022, the Slovak market for crude oil and processed petroleum increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Crude Oil and Processed Petroleum in Slovakia

In value terms, crude oil and processed petroleum production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Crude Oil and Processed Petroleum

Exports from Slovakia

In 2022, approx. X tons of crude oil and processed petroleum were exported from Slovakia; with a decrease of X% against the previous year's figure. In general, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, crude oil and processed petroleum exports skyrocketed to $X in 2022. Over the period under review, exports showed a pronounced shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons), Hungary (X tons) and Austria (X tons) were the main destinations of crude oil and processed petroleum exports from Slovakia, with a combined X% share of total exports. Poland, Ukraine, Serbia and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Hungary ($X) and Poland ($X) appeared to be the largest markets for crude oil and processed petroleum exported from Slovakia worldwide, together comprising X% of total exports. Austria, Ukraine, Serbia and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Ukraine, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for crude oil and processed petroleum amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (X%), while the prices for the other major destinations experienced a decline.

Imports of Crude Oil and Processed Petroleum

Imports into Slovakia

For the third year in a row, Slovakia recorded growth in supplies from abroad of crude oil and processed petroleum, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude oil and processed petroleum imports surged to $X in 2022. Overall, imports, however, saw a slight descent. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest crude oil and processed petroleum supplier to Slovakia, accounting for a X% share of total imports. Moreover, crude oil and processed petroleum imports from Russia exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. Austria (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Austria (X% per year).

In value terms, Russia ($X) constituted the largest supplier of crude oil and processed petroleum to Slovakia, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Austria (X% per year).

Import Prices by Country

The average import price for crude oil and processed petroleum stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Czech Republic ($X per ton) and Germany ($X per ton), while the price for Hungary ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :