Over the past six years, Gulf countries accounted for around 37% of worldwide crude oil import value. For refined petroleum products and gas, the share is lower - 15% and 13%, respectively. A large share of this normally transits through the Strait of Hormuz. Some regions are more dependent on Gulf outputs than others. Northeast Asia gets about 60% of its crude oil from Gulf countries, particularly Saudia Arabia and the UAE. Western Europe one the other hand only draws about 9% of its crude from the Gulf. Data is best explored interactively so we have built a dashboard that shows crude, product and gas imports by region overall as well as individual developments by country.
Posts tagged as “Gulf”
While much of the focus has been on surging transpacific air cargo, Asia Pacific to Europe has performed better even if overall westbound volumes are still around 12% below January 2022 peak levels. Over the past years there have been significant changes in how air cargo moves between Asia and Europe with both the Gulf and Central Asia increasing their share of traffic and some smaller European countries seeing a surge in inbound volumes. This article discusses the changes taking place in Asia to Europe air cargo.