10 Largest Importers of Oil in the World
These are the ten largest importers of oil in the world. The ten countries or economies in the world that import the most barrels of oil per day. The list includes mainly large economies which do not produce much oil and the two largest economies in the world both of whom are top five producers of oil but whose economic demand for oil is so great they need to import vast quantities of the black gold daily. Vast quantities of money are exchanged daily between countries for oil.
United States - 13.5 million barrels of oil per day
As the largest economy in the world the United States also leads the world as the largest importer of oil at 13.5 million barrels per day. What many people do not realize is that the United States is the 3rd largest producer of oil in the world but its demand for oil far exceeds its production of black gold. So the United States spends a fortune daily exchanging its money for foreign oil.
Japan - 5.3 billion barrels
Japan was just surpassed by China as the 2nd largest economy in the world but still has a huge demand for imported oil especially since Japan is not a major producer of oil. In fact as a percentage of imported oil to oil demand Japan leads the world since its oil production capacity is so small and its need so great. Japan also spends a fortune yearly buying oil with its money.
China - 4.4 million barrels per day
China just surpassed Japan as the second largest economy in the world and its rapid economic growth is fueling an increasing demand for oil some of which the Chinese are able to meet on their own as China is the 5th largest oil producer in the world. Despite being the 5th largest producer of oil China still needs to import and purchase 4.4 million barrels of oil per day to fuel its economy.
South Korea - 3 million barrels per day
South Korea produces very little oil on its own so it needs to import some 3 million barrels of oil per day to fuel its economy which is the 15th largest economy in the world.
India - 2.9 million barrels per day
India is the 11th largest economy in the world but just the 22nd largest producer of oil in the world so it must import 2.9 barrels of oil a day to fuel its rapidly growing economy. With 1.2 billion people India is the 2nd largest population country in the world so its demand for oil will likely only increase in the future.
Germany - 2.8 million barrels
Germany is the 4th largest economy in the world and the largest in Europe. Like Japan the German economy is large and Germany produces very little oil so it must import a very large percentage of its oil needs which adds up to Germany importing 2.8 million barrels of oil per day. Germany spends a great deal of money daily importing oil.
Netherlands - 2.7 million barrels
The Netherlands is another country that produces very little oil so it must import its needs and that adds up to 2.7 million barrels of imported oil per day to fuel its economy which is the 16th largest economy in the world.
France - 2.4 million barrels
France is the 5th largest economy in the world and second largest in Europe and needs 2.4 billion barrels of imported oil per day. France is not a major oil producing nation but does rank higher for imported oil because it derives 79% of its electrical energy needs from nuclear power. If France can be so progressive with nuclear power why can't the rest of the world?
Italy - 2.2 million barrels
Italy is the 7th largest economy in the world and has very little oil producing capacity so it needs to import 2.2 barrels of oil per day to keep its economy running.
Singapore - 2.1 million barrels per day
Singapore has a rapidly growing 236 billion dollar GDP economy and no real oil production so it needs to import 2.1 million barrels of oil per day to keeps its economy rolling along.
For more see 10 Largest Oil Producing Countries in the World