Exports In 2020, South Korea exported $256M in Crude Petroleum, making it the 55th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 209th most exported product in South Korea. The main destination of Crude Petroleum exports from South Korea are: Philippines ($110M), Pakistan ($55.9M), China ($41.5M), Thailand ($26.4M), and Brunei ($12M).
Imports In 2020, South Korea imported $42.2B 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 ($12.8B), Russia ($5.03B), United States ($4.88B), Kuwait ($4.78B), and United Arab Emirates ($3.18B).
The fastest growing import markets in Crude Petroleum for South Korea between 2019 and 2020 were Brazil ($541M), United Kingdom ($484M), and Norway ($276M).
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 (Most Favoured Nation duty rate treatement, 3%), Burundi (Most Favoured Nation duty rate treatement, 3%), Benin (Most Favoured Nation duty rate treatement, 3%), Burkina Faso (Most Favoured Nation duty rate treatement, 3%), and Botswana (Most Favoured Nation duty rate treatement, 3%).