Tanzania: Market for Crude Oil and Processed Petroleum 2024

Market Size for Crude Oil and Processed Petroleum in Tanzania

The Tanzanian market for crude oil and processed petroleum soared to $X in 2022, jumping by X% against the previous year. Overall, consumption, however, saw a pronounced decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Crude Oil and Processed Petroleum in Tanzania

In value terms, crude oil and processed petroleum production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Crude Oil and Processed Petroleum

Exports from Tanzania

In 2022, overseas shipments of crude oil and processed petroleum decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude oil and processed petroleum exports dropped notably to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Uganda (X tons) was the main destination for crude oil and processed petroleum exports from Tanzania, accounting for a X% share of total exports. Moreover, crude oil and processed petroleum exports to Uganda exceeded the volume sent to the second major destination, Zambia (X tons), twofold. The third position in this ranking was held by Kenya (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (X% per year) and Kenya (X% per year).

In value terms, the largest markets for crude oil and processed petroleum exported from Tanzania were Zambia ($X), Uganda ($X) and Kenya ($X), with a combined X% share of total exports.

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

Export Prices by Country

The average export price for crude oil and processed petroleum stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Uganda ($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 Burundi (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crude Oil and Processed Petroleum

Imports into Tanzania

In 2022, approx. X tons of crude oil and processed petroleum were imported into Tanzania; growing by X% compared with the previous year. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, crude oil and processed petroleum imports surged to $X in 2022. Over the period under review, imports showed a buoyant increase. 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 attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest crude oil and processed petroleum supplier to Tanzania, with a X% share of total imports. Moreover, crude oil and processed petroleum imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and South Korea (X% per year).

In value terms, India ($X) constituted the largest supplier of crude oil and processed petroleum to Tanzania, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The average import price for crude oil and processed petroleum stood at $X per ton in 2022, leveling off at the previous year. In general, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum 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 countries with the highest prices were Oman ($X per ton) and the United Arab Emirates ($X per ton), while the price for South Korea ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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