6 | Statistical Review | 2022
The UK continues to be a net importer of petroleum products and remains active in the global import and export of both products and crude oil, although the contribution to the balance of trade remains negative. Like many sectors in the economy, and as a result of decreased demand due to coronavirus restrictions, the downstream sector was unable to maintain stable annual net profits in 2020.
Downstream oil sector participated in £15.1 billion worth of trade in 2021
UK is net importer of petroleum products
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