Imports: Oil
U.S. imports of Oil decreased 15.47 percent through August to $96.93 billion.
Top Sources
| Rank | Country | YTD |
|---|---|---|
| 1 | Canada | $58.36 B |
| 2 | Mexico | $6.25 B |
| 3 | Saudi Arabia | $4.68 B |
| 4 | Brazil | $3.78 B |
| 5 | Guyana | $3.48 B |
| 6 | Colombia | $3.46 B |
| 7 | Iraq | $3.39 B |
| 8 | Nigeria | $2.61 B |
| 9 | Venezuela | $2.28 B |
| 10 | Ecuador | $2.02 B |
Top Gateways
| Rank | Port | YTD |
|---|---|---|
| 1 | Port of Peoria, IL land-based cargo | $13.58 B |
| 2 | Port of Chicago land-based cargo | $13.23 B |
| 3 | Port of Long Beach | $6.23 B |
| 4 | Minneapolis-St. Paul land-based cargo, MN | $4.82 B |
| 5 | Tulsa land-based cargo, OK | $4.14 B |
| 6 | Port Arthur, TX | $3.61 B |
| 7 | Port of Los Angeles | $3.57 B |
| 8 | Port of Richmond, CA | $3.55 B |
| 9 | Port of Newark | $3.41 B |
| 10 | Port of Houston | $2.52 B |
Top markets Oil
Total:
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Oil by port
Total:
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U.S. imports of Oil decreased 15.47 percent through August to $96.93 billion
The category ranked 3 through August among the roughly 1,265 import commodity groupings as classified by Census. It ranked No. 2 for the last full year with a total value of $167.48 billion, a $2.31 billion, 1.40 percent increase from the 2023 total.
Through August of this year the leading sources were No. 1 Canada, No. 2 Mexico, No. 3 Saudi Arabia, No. 4 Brazil and No. 5 Guyana. The leading sources were No. 1 Port of Peoria, IL land-based cargo, No. 2 Port of Chicago land-based cargo, No. 3 Port of Long Beach, No. 4 Minneapolis-St. Paul land-based cargo, MN and No. 5 Tulsa land-based cargo, OK.
In the last previous full year, the leading sources were No. 1 Canada, No. 2 Mexico, No. 3 Saudi Arabia, No. 4 Brazil and No. 5 Guyana. The leading sources were No. 1 Port of Peoria, IL land-based cargo, No. 2 Port of Chicago land-based cargo, No. 3 Port of Long Beach, No. 4 Minneapolis-St. Paul land-based cargo, MN and No. 5 Port Arthur, TX.
Looking at specific airports, seaports and border crossings, the top five through the first eight months of the year were:
Highlights for the top five ports:
- Port of Peoria, IL land-based cargo fell 20.65 percent compared to last year to $13.58 billion.
- Port of Chicago land-based cargo rose 8.26 percent compared to last year to $13.23 billion.
- Port of Long Beach fell 19.13 percent compared to last year to $6.23 billion.
- Minneapolis-St. Paul land-based cargo, MN fell 19.78 percent compared to last year to $4.82 billion.
- Tulsa land-based cargo, OK fell 13.12 percent compared to last year to $4.14 billion.
There are several hundred airports, seaports and border crossings that handle international trade; they are, in turn, part of the roughly four dozen U.S. Customs districts.
Highlights for the top five foreign sources:
- U.S. imports from No. 1 Canada decreased $8.21 billion, 12.33 percent, (60.2 percent market share).
- U.S. imports from No. 2 Mexico decreased $2.26 billion, 26.6 percent, (6.45 percent market share).
- U.S. imports from No. 3 Saudi Arabia decreased $1.45 billion, 23.59 percent, (4.83 percent market share).
- U.S. imports from No. 4 Brazil decreased $793.57 million, 17.34 percent, (3.9 percent market share).
- U.S. imports from No. 5 Guyana decreased $566.44 million, 14.01 percent, (3.59 percent market share).
All totaled, 78.97 percent of all these Oil imports to the United States were shipped from the top five sources through August of this year. That is equal to $76.55 billion of the $96.93 billion total.
All totaled, 43.33 percent of all these Oil imports to the United States were shipped to the top five Ports through August of this year. That is equal to $42 billion of the $96.93 billion total.