Crude oil imports from United Arab Emirates worth $2.7 billion

New Zealand’s highest valued import from a single trade partner for the year ended September 2019 was crude oil from the United Arab Emirates (UAE), valued at $2.7 billion, Stats NZ said today.

The UAE was our largest source of crude oil imports, followed by Malaysia (valued at $632 million). In the last 15 years, the value of crude oil imports from UAE has ranged from $164 million in the September 2012 year to $2.7 billion in 2019.

Year ended September $
2004 275424809
2005 300837398
2006 691724956
2007 316587269
2008 855312783
2009 193429387
2010 925511130
2011 589469090
2012 164102704
2013 814460871
2014 844684955
2015 330860703
2016 600026480
2017 1702700883
2018 2289938590
2019 2669209011

Imported crude oil is processed at the Marsden Point Refinery into fuels, bitumen for roading, and other products.

“About 60 percent of imported crude is refined into petrol and diesel. We use this to power our vehicles along with directly imported fuels. In one year, we consume about 1,200 litres of petrol and diesel per person,” international statistics manager Peter Dolan said.

“Crude oil and vehicles are among our top imports.”

New Zealand imported $7.2 billion worth of vehicles, including more than 263,000 cars worth $4.5 billion, in the year ended September 2019. Japan was our largest source of vehicle imports ($2.2 billion), followed by the European Union ($2.0 billion), and Thailand ($1.3 billion).

“The Middle East – which includes UAE – accounted for two-thirds of our crude oil imports in the September 2019 year,” Mr Dolan said.

“Southeast Asia and Russia are other important sources.”

Year ended September Middle East Southeast Asia Russia Australia Other
2004 660579130 407365423 0 353680383 96124172
2005 858220224 504946850 0 426895067 276413034
2006 1495224758 1248973984 0 242136014 28676376
2007 1280623820 665328419 0 476040885 288280675
2008 2153235413 1540273375 0 324065315 102887891
2009 1569152267 979719550 209159192 276141454 23839120
2010 2125042836 1013444617 474742123 151092915 75118369
2011 2705899065 984851258 1144327309 45245 176606238
2012 2850417776 1888469739 317770821 180072474 165006117
2013 3051303826 1829070488 301799871 106236736 84320198
2014 2325593180 1739859127 606619269 82371103 44488934
2015 1556343933 1207619666 604746796 120136842 61578
2016 1451591041 613214139 126340766 145408524 19772
2017 1994272411 488612574 335247257 11268 96108
2018 2714704358 858575201 140160290 64373059 15927580
2019 2914084532 632531387 590800610 148325940 55901161

Key countries in the Middle East we have imported crude oil from include UAE, Saudi Arabia, and Qatar. Key countries in Southeast Asia we have imported crude oil from include Malaysia, Indonesia, and Brunei Darussalam.

The value of crude oil imports from all countries was $4.3 billion in the year ended September 2019, 5.2 percent of total imports.

/Stats NZ Public Release. View in full here.