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$
2004275424809
2005300837398
2006691724956
2007316587269
2008855312783
2009193429387
2010925511130
2011589469090
2012164102704
2013814460871
2014844684955
2015330860703
2016600026480
20171702700883
20182289938590
20192669209011

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 SeptemberMiddle EastSoutheast AsiaRussiaAustraliaOther
2004660579130407365423035368038396124172
20058582202245049468500426895067276413034
200614952247581248973984024213601428676376
200712806238206653284190476040885288280675
2008215323541315402733750324065315102887891
2009156915226797971955020915919227614145423839120
20102125042836101344461747474212315109291575118369
20112705899065984851258114432730945245176606238
201228504177761888469739317770821180072474165006117
20133051303826182907048830179987110623673684320198
2014232559318017398591276066192698237110344488934
20151556343933120761966660474679612013684261578
2016145159104161321413912634076614540852419772
201719942724114886125743352472571126896108
201827147043588585752011401602906437305915927580
2019291408453263253138759080061014832594055901161

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. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.