India, World's Fourth Largest Oil Importer

Bangalore: As the government planning to increase oil prices again, let's take a look at some of the biggest oil importers in the world.

1. The United States

Net oil import (2011): 8.7 million barrels per day

Global Rank: 1

The United States has a capitalist mixed economy, which is fueled by abundant natural resources, a well-developed infrastructure, and high productivity. According to the International Monetary Fund, the U.S. GDP of $15.1 trillion constitutes 22 percent of the gross world product at market exchange rates and over 19 percent of the gross world product at purchasing power parity (PPP). Though larger than any other nations, its national GDP was about 5 percent smaller at PPP in 2011 than the European Union's, whose population is around 62 percent higher. The country ranks ninth in the world in nominal GDP per capita and sixth in GDP per capita at PPP. The U.S. dollar is the world's primary reserve currency.

 2. China

Net oil import (2011): 5.5 million barrels per day

Global rank: 2

As of 2012, China has the world's second-largest economy in terms of nominal GDP, totaling approximately US$7.298 trillion according to the International Monetary Fund (IMF). However, China's 2011 nominal GDP per capita of US$5,184 puts it behind around ninety countries (out of 183 countries on the IMF list) in global GDP per capita rankings. If PPP is taken into account in total GDP figures, China is again second only to the United States—in 2011; its PPP GDP reached $11.299 trillion, corresponding to $8,382 per capita. In 2009, China's primary, secondary, and tertiary industries contributed 10.6 percent, 46.8 percent, and 42.6 percent respectively to its total GDP.