India, World's Fourth Largest Oil Importer

3. Japan

Net oil import (2011): 4.3 million barrels per day

Global rank: 3

As of 2011, Japan is the third largest national economy in the world, after the United States and China, in terms of nominal GDP, and the fourth largest national economy in the world, after the United States, China and India in terms of purchasing power parity. As of January 2011, Japan's public debt was more than 200 percent of its annual gross domestic product, the largest of any nation in the world. In August 2011, Moody's rating has cut Japan's long-term sovereign debt rating one notch from Aa3 to Aa2 in line with the size of the country's deficit and borrowing level. The large budget deficits and government debt since the 2009 global recession and followed by earthquake and tsunami in March 2011 made the rating downgrade. The service sector accounts for three quarters of the gross domestic product.

4. India

Net oil import (2011): 2.3 million barrels per day

Global rank: 4

According to the World Bank, as of 2011, the Indian economy is nominally worth US$1.848 trillion; it is the tenth-largest economy by market exchange rates, and is, at US$4.457 trillion, the third-largest by purchasing power parity, or PPP. With its average annual GDP growth rate of 5.8 percent over the past two decades, and reaching 6.1 percent during 2011–12, India is one of the world's fastest-growing economies. However, the country ranks 140th in the world in nominal GDP per capita and 129th in GDP per capita at PPP.