Crude Petroleum in South Korea

EXPORTS (2018): $260M, World Rnk 58 / 120
Flag Rnk 215 / 1196

TOP DESTINATION (2018): $260M, Philippines

FASTEST GROWING MARKET (2017 - 2018): $65.7M, Philippines

IMPORTS (2018): $74.8B, World Rnk 4 / 148
Flag Rnk 1 / 1208

TOP ORIGIN (2018): $20.7B, Saudi Arabia

FASTEST GROWING ORIGIN (2017 - 2018): $5.38B, Saudi Arabia

ECONOMIC COMPLEXITY of South Korea (2018): 1.85, Rnk 5 / 137

PRODUCT COMPLEXITY  IN Crude Petroleum (2018): -2.84, Rnk 1018 / 1018

Overview: This page contains the latest trade data of Crude Petroleum in South Korea.

Exports: In 2018, South Korea exported $260M in Crude Petroleum, making it the 58th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 215th most exported product in South Korea. The main destination of Crude Petroleum exports from South Korea are: Philippines ($260M), New Zealand ($67.4k), and Indonesia ($2.04k).

The fastest growing export markets for Crude Petroleum of South Korea between 2017 and 2018 were Philippines ($65.7M), New Zealand ($67.4k), and Indonesia ($2.04k).

Imports: In 2018, South Korea imported $74.8B in Crude Petroleum, becoming the 4th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in South Korea. South Korea imports Crude Petroleum primarily from: Saudi Arabia ($20.7B), Kuwait ($10.2B), Iraq ($8.41B), Russia ($8.08B), and United States ($5.13B).

The fastest growing import markets in Crude Petroleum for South Korea between 2017 and 2018 were Saudi Arabia ($5.38B), United States ($4.37B), and Russia ($4.18B).

Tariffs: In 2018, the average tariff for South Korea in Crude Petroleum was 2.38%. The countries with the highest import tariffs for Crude Petroleum were Angola (3%), Burundi (3%), Benin (3%), Burkina Faso (3%), and Botswana (3%).

Value

EXPORTS (2018): $260M

IMPORTS (2018): $74.8B

NET TRADE (2018): -$74.6B

In 2018, South Korea exported $260M in Crude Petroleum. The main destinations of South Korea exports on Crude Petroleum were Philippines ($260M), New Zealand ($67.4k), and Indonesia ($2.04k).

In 2018, South Korea imported $74.8B in Crude Petroleum, mainly from Saudi Arabia ($20.7B), Kuwait ($10.2B), Iraq ($8.41B), Russia ($8.08B), and United States ($5.13B).

Explore Visualizations

IN 2018, South Korea HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:: Philippines, $190M ($260M - $69.7M)

IN 2018, South Korea HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:

  • Saudi Arabia, -$20.7B ($0 - $20.7B)
  • Kuwait, -$10.2B ($0 - $10.2B)
  • Iraq, -$8.41B ($0 - $8.41B)
Flow

THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR South Korea WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY South Korea WERE (2017 - 2018):

Explore Visualizations

Market Concentration

#permalink to section
Flow
Type

In 2018, South Korea's main exporting competitors in Crude Petroleum were:

In 2018, South Korea's main importing competitors in Crude Petroleum were:

Explore Visualizations

Trade Forecasts

#permalink to section

Time

This section shows forecasts for total exports and imports, for Crude Petroleum in South Korea. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

Explore Forecasts

Tariffs by Country

#permalink to section

In 2018, the average tariff for South Korea in Crude Petroleum was 2.38%.

The countries with the highest tariffs for Crude Petroleum in South Korea were Angola (3%), Burundi (3%), Benin (3%), Burkina Faso (3%), and Botswana (3%).

Explore Tariff Data