Petroleum Oils Export of Italy: The in-depth Trade Overview of 2024

Petroleum oil is a broad category of oils derived from crude oil and naturally occurring liquids found in underground reservoirs. It is the topmost preference of the globally leading traders because of its wide use as fuel, lubrication equipment, raw material, and other industrial applications. The essential role played by petroleum oils for energy, accompanied by the raw material feedstock serving capacity, along with uneven global distribution, has maintained continuity in the global trade.

Italy Import Data says, the country in southern Europe, bordered by France and Switzerland to the north, is at present an influential economy in the worldwide trade market of mineral fuels mainly because of the export revenue contribution and the specialized industrial improvement. The associations like Union Petrolia Feda for export-friendly policies accompanied by the diversification of the products have resulted in a total valuation of petroleum oils exports worth 5.28 billion US dollars in 2024. The compatibility of the country with global standards and the geographic diversity have benefited the overall revenue rate. Subscribe to Import Globals, the leading Italy import export trade provider, to stay updated with the leading petroleum oil trade of the country via the Italy trade data.

THE GOVERNMENT INITIATIVES SUPPORTING THE PETROLEUM OILS EXPORT OF ITALY IN 2024

Italy, due to its coordinated government export action plan led by the Ministry of Foreign Affairs, has helped the country expand its export footprint while providing logistical, financial, and diplomatic support to the major exporters. The export guarantees via participation in EU export credit initiatives have reduced the financial risk for the exporters for expanding their services while enhancing the confidence of Italian firms in export deals.

The SIMEST export support and export credit contributions have offered financial support and reduced credit cost to exporters. It has made the Italian export pricing more competitive while lowering the financing cost. The public export financing and guarantees via SACE have helped the authorities mitigate the export risk while keeping the credits available at a lower cost.

TOP TRADED PETROLEUM OILS FROM ITALY IN 2024

Italy, due to its trade diplomacy and energy security collaborations, has actively reported the diversity in its global trade output. According to the Italy Export Data, the topmost variants of petroleum oils exported from the nation in 2024 are,

Motor Gasoline — The annual valuation of Motor Gasoline exported from Italy in 2024–1.3 billion US dollars
Aviation Turbine Fuel (Jet Fuel)- The annual valuation of Aviation Turbine Fuel (Jet Fuel) exported from Italy in 2024–919 million US dollars
Diesel Fuel (Gas Oils)- The annual valuation of Diesel Fuel (Gas Oils) exported from Italy in 2024–765 million US dollars
Fuel Oils- The annual valuation of Fuel Oils exported from Italy in 2024–624 million US dollars
Lubricating Oils & Base Oils- The annual valuation of Lubricating Oils & Base Oils exported from Italy in 2024–542 million US dollars
White Spirit & Special Spirits- The annual valuation of White Spirit & Special Spirits exported from Italy in 2024–432 million US dollars
Hydraulic and Industrial Oils- The annual valuation of Hydraulic and Industrial Oils exported from Italy in 2024–389 million US dollars
Blended Diesel/Biodiesel Fuels- The annual valuation of Blended Diesel/Biodiesel Fuels exported from Italy in 2024–276 million US dollars
Kerosene (Non‑Jet Kerosene)- The annual valuation of Kerosene (Non‑Jet Kerosene) exported from Italy in 2024–225 million US dollars
Waste/Used Oils- The annual valuation of Waste/Used Oils exported from Italy in 2024–189 million US dollars

TOP TRADE PARTNERS OF ITALY IN 2024

The trade balance goal set by the government authorities and the shifts in energy patterns of the nation have promoted the bilateral relationship of the country with the topmost investing regions. According to the Italy Customs Data, the topmost trade partners benefiting the petroleum oils export economy of the nation in 2024 are,

Germany — The total valuation of petroleum oils exported from Italy to Germany in 2024–2.19 million US dollars