In 2022, India's Oil Demand Is Expected To Increase By 8%

 As the economy recovers from the pandemic's damage, India's oil demand is expected to rise 8.2 percent to 5.15 million barrels per day in 2022.

In its most recent monthly oil market report, the Organization of Petroleum Exporting Countries (OPEC) predicted that the world's third-largest energy consumer will increase crude oil consumption by 0.39 million barrels per day (BPD) in 2022.

India's oil demand increased by 5.61 percent from 4.51 million barrels per day in 2020 to 4.76 million BPD in 2021. However, this was still lower than pre-pandemic levels.

Oil demand was 4.98 million barrels per day in 2018, rising to 4.99 million barrels per day the next year before the epidemic.

According to the OPEC report and India import-export statistics, oil consumption is likely to revive with expected robust economic growth of 7.2 percent in 2022 and expected swift containment of Omicron in the near future. As India's average driving activity grew, mobility continued to improve.

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Oil consumption has risen this year after govt removed Covid-19 restrictions

According to India customs export statistics, gasoline (petrol) and diesel are predicted to be particularly favored by the expected growth in GDP and the already improving mobility, hence propelling activity.

Similarly, the industrial sector will support diesel, LPG, and naphtha demand, in keeping with a prediction for a strong economy in 2022.

Because of travel issues, particularly business-related travel, demand for jet kerosene is likely to be slower in 2022, according to the report.

Nonetheless, in 2022, India is expected to expand by 0.4 million BPD year on year. OPEC's forecast for gasoline demand increase is in line with government projections.

India's gasoline demand is expected to rise 5.5 percent in the fiscal year beginning April 1, according to the petroleum ministry's Petroleum Planning and Analysis Cell (PPAC).

From 203.2 million tonnes of planned sales in the current fiscal year ending March 2022, fuel consumption is expected to climb to 214.5 million tonnes (4. 3 million BPD) in 2022-23.

The OPEC prediction is for crude oil demand, but the PPAC forecast is for fuel consumption.

Refineries turn crude oil into fuels like gasoline and diesel, although not all of the petroleum products produced are used in the country.

Because a large number of petroleum products are exported, there is a discrepancy between crude oil and fuel demand estimates.

India's crude imports averaged 4.5 million barrels per day in January, down almost 3% from the previous month's high level.

Based on India's import trade statistics, February data is projected to show greater crude imports as the economy gets traction, demand increases, and refiners raise runs.

85 percent of India's oil demands are met by imports. Iraq continues to lead oil imports by source, with a share of 27 percent, according to the most recent figures for December.

Saudi Arabia came in second with over 17%, followed by the UAE with roughly 13%, with the latter witnessing a significant increase in volumes. According to the global trade statistics and market analysis reports, the US also had significant growth, reaching the fourth position with 9%.

You may also be interested in the import-export trade data of some other top global countries:

India import data                                                                                     India export data

Vietnam import data                                                                           Vietnam export data

Indonesia import data                                                                     Indonesia export data

Turkey import data                                                                             Turkey export data

Bangladesh import data                                                             Bangladesh export data

 

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Overview Of International Trade Based On The Global Import-Export Trade Data

 Global Import Export Trade Data is an advanced tool designed by the Exim’s market field of experts to assist its clients in their various import-export trade business-related decision-making processes

Exim Trade Data is the emerging and leading import-export trade marketing statistics, strategies, and solution provider company in India that offer on-point reliable, authentic trade statistics on any global country in real-time.

International trade refers to any legal exchange of commodities and services between countries. When a corporation in one country sells goods or services to consumers in another country, this is known as international trade.

When individuals in one country buy goods and services from a foreign producer, they are engaging in international trade.

An import is a product purchased from outside the United States for local clients, whereas export is a product produced in the United States and sold to international buyers.

A country's exports are, in general, those that it can produce effectively. Japan, for example, exports electronics and automobiles because its manufacturing process is more efficient than that of many other nations.

A country's natural resources can also be exported as commodities.

Saudi Arabia and other Middle Eastern countries with rich domestic oil fields, for example, export oil to a variety of countries throughout the world with limited oil supplies.

What Makes International Trade So Important? An Overview Based On Global Customs Import-Export Trade Data

International commerce is important because it allows national markets to provide a wider range of goods and services to their customers than they could if they were limited to manufacturing goods and services inside their own boundaries.

Based on Exim Trade Data’s market analysis reports, practically every type of product is available on the global market as a result of international trade, ranging from resources like oil, water, and steel to necessities like food, clothing, and building materials to luxury commodities like diamonds, designer attire, and limousines.

Many services are marketed on a global scale, including legal, accountancy, advertising, banking, and tourism. Another important characteristic of international trade is that the more manufacturers who engage in a sector, the more rivalry there is between them.

Increased rivalry implies lower prices, which means shoppers may choose from a greater choice of low-cost items.

World trade has a number of economic advantages. If a country lacks the assets or natural resources to properly manufacture a product, it may trade with another country to obtain it.

Sweden, for example, benefits from exchanging items it can make efficiently and inexpensively, like iron ore, for ones it can't make at home, like grapefruit. When a country is capable of manufacturing a specific good efficiently, it focuses on producing that commodity in order to export it to other countries.

A country is said to have an absolute advantage when it produces a given good more efficiently than any other country. Any good (output) requires the utilization of resources such as labor, materials, money, and land in order to be created (the input).

Countries calculate the units of resources (total inputs) required to manufacture a certain good to see if they have an absolute advantage in the production of that good. When a country uses the fewest resources to make a product, it has an unbeatable edge.

Countries can also participate in a global, or worldwide, economy through international commerce. When more countries enter the global market, more foreign investment happens.

When a firm invests money or other resources in commercial activities outside of its home country, this is known as a foreign direct investment (FDI).

Latest trends in the global trade markets as per the global trade data

National economic marketplaces have been so linked since the mid-twentieth century that they now function as a single massive global market rather than as separate economies as per the recent update in the Global Import Export Trade Data.

Separate economic systems that were previously isolated due to geography and insufficient transportation and communication are becoming less so.

Import tariffs (taxes) have, for example, been gradually phased out as a barrier to international trade. International trade is no longer hampered by differences in time zones, languages, government restrictions, cultures, and corporate systems.

One of the primary variables driving the rapid expansion of international commercial practices is the Internet. The Internet has greatly aided businesses' ability to import goods across borders and profitably sell them locally.

The volume and diversity of international trade have expanded as a result of internet sales of all sorts of items.

One of the most prominent tactics for governments to foster open trade is the creation of free-trade zones.

According to the Global Trade Statistics, tariffs and import quotas (government-imposed limitations on the amount of items or services that may be imported over a specific period of time) are formally abolished in these zones, and bureaucratic barriers are removed, allowing firms to participate in free trade.

Free-trade zones include the Jamaican Free Zone and the Jebel Ali Free Zone in Dubai, United Arab Emirates.

Some of the major countries on which we offer import-export trade data

 

India import data                                                                                     India export data

Vietnam import data                                                                           Vietnam export data

Indonesia import data                                                                       Indonesia export data

Turkey import data                                                                                 Turkey export data

Bangladesh import data                                                                  Bangladesh export data

 

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Looking Into Brazil And Mexico's Import-Export Trade Statistics

 The Customized global trade data we provide include data such as Import Shipment data, Custom Import Data, Import Trade Data, etc.

Brazil is one of the largest countries by population as well as by land, in South America and Latin.

In 2018, the total import value of this country was worth $181.2 billion across the globe and was the 31st world’s largest importer country.

Exim trade data is one of the largest leading & emerging global custom import-export trade data services & solutions providers marketing agencies in the world.

We consistently deliver updated, genuine, authentic, trusted, and reliable analysis reports that help you get useful insights into the global import-export trade market.

The data we provide contains important information such as the name of importers & exporters, product description, HS Code, Port Name, Shipment Detail, Mode of Transportation, Consignment Details, etc.

What Are The Current Stats Of Brazil?

❖ Trade Balance: $2003.70 as of Oct 2021.

❖ Exports: $22519.60 as of Oct 2021.

❖ Imports: $20515.90 as of Oct 2021.

❖ Current Account: $-4464

What Are The Major Ports Of Brazil?

Brusque, Concórdia, Caravelas, Fernando de noronha, Valença, Santa Cruz, São Francisco, Horizontina, B horizont, Guarulhos, Campina Grande, Porto Alegre, Videira, Colombo, Blumenau, Itaúba are some of the major ports of Brazil according to Brazil import data.

Major Imports Of Brazil And Its Major Import Partners

Based on the market analysis and reports, Boats, Ships & Floating Structures (6.4%), Machinery (12.4%), Pharma Products (4.4%), Vehicles (4.8%), Mineral Fuels & Oils (8.8%), Miscellaneous Articles of Base Metals (3.5%), Fertilizers (5.0%), Electrical Machinery & Equipment (12.9%), and Plastics (4.5%) were some of the major imported products of this country. Where India ($3.9 B), Italy ($3.4 B), Argentina ($7.7 B), Japan ($3.7 B), China ($34.0 B), Brazil ($12.6 B), South Korea ($4.0 B), Germany ($8.5 B), United States ($24.4 B), and France ($3.1 b) were some of the major import partners of Brazil in 2020 according to Brazil import data and Brazil trade statistics.

Mexico Import Custom Shipment Data

Get actionable insight into the global trade market with the world’s best custom import-export trade data marketing solutions & services provider companies all over the globe.

According to Mexico import data, Mexico was the 12th largest import country in the world during 2019 and the total import value of this country was worth $455.2 billion.

The market analysis of Mexico’s customs trade data and trade statistics discloses the list of its major imported products and major import partner countries in the globe.

What Are The Current Stats Of Mexico?

❖ Trade Balance: $-2701.00 as of Oct 2021.

❖ Exports: $41957.14 as of Oct 2021.

❖ Imports: $44658.13 as of Oct 2021.

❖ Current Account: $-4070

What Are The Major Port Of Mexico?

Mexicali, Cuautitlan, Cananea, Col Portales, el paso, guaymas, tijuana, monterrey, cuernavaca, manzanillo, querétaro, colima, aguascalientes, querétaro, puerto morelos, oaxaca, el salto, guanajuato, chihuahua, torreón, lazaro carden and progreso are some of the major ports of Mexico as per the Mexico import data.

Major Imports Of Mexico And Its Major Import Partners

Based on the market analysis and reports, Articles of Iron & Steel (2.1%), Plastics (5.26%), Aluminium (1.47%), Organic Chemicals (1.78%), Vehicles (10.75%), Optical & Medical Equipment (3.52%), Machinery (16.54%), Electronics (20.28%), and Iron & Steel  (2.3%) were some of the major imported products of this country in 2019 as per the Mexico import data list. Where Brazil ($6.6 B), Canada ($9.8 B), China ($83.0), United States ($206.1 B), South Korea ($17.5 B), Germany ($17.6 B), Malaysia ($11.5 B), Italy (6.0 B) were some of the major import partners of this country according to the trade statistics of Mexico.

 

You may also be interested in the import-export trade data of some other top global countries:

  

India import data                                                                                     India export data

Vietnam import data                                                                           Vietnam export data

Indonesia import data                                                                       Indonesia export data

Turkey import data                                                                                 Turkey export data

Bangladesh import data                                                                  Bangladesh export data

 

Connect to us here