2021
Exports | Imports
$191M | $60.6BWorld Rnk 68 / 147
Flag Rnk 279 / 1206
World Rnk 4 / 163
Flag Rnk 1 / 1211
2021
ECONOMIC COMPLEXITY of South Korea
1.82Rnk 4 / 131
2021
PRODUCT COMPLEXITY IN Crude Petroleum
-2.36Rnk 1013 / 1024

About

Exports In 2021, South Korea exported $191M in Crude Petroleum, making it the 68th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 279th most exported product in South Korea. The main destination of Crude Petroleum exports from South Korea are: Brunei ($100M), Philippines ($43.6M), India ($38.9M), Australia ($8.51M), and Guatemala ($304k).

The fastest growing export markets for Crude Petroleum of South Korea between 2020 and 2021 were Brunei ($88.1M), India ($38.9M), and Australia ($8.51M).

Imports In 2021, South Korea imported $60.6B 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 ($18.5B), United States ($8.05B), Kuwait ($6.31B), Russia ($6.24B), and Iraq ($3.5B).

The fastest growing import markets in Crude Petroleum for South Korea between 2020 and 2021 were Saudi Arabia ($5.77B), United States ($3.17B), and Kuwait ($1.54B).

Latest Trends

December 2023

Subnational Monthly Trade

Time Scale
Flow
Color
IMPORT GROWTH (December 2022 - December 2023)$-387M(-4.67%)
MAIN DESTINATION (December 2023)Democratic Republic of the Congo$0

This section shows Crude Petroleum's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2021)$191M
IMPORTS (2021)$60.6B
NET TRADE (2021)-$60.4B

In 2021, South Korea exported $191M in Crude Petroleum. The main destinations of South Korea exports on Crude Petroleum were Brunei ($100M), Philippines ($43.6M), India ($38.9M), Australia ($8.51M), and Guatemala ($304k).

In 2021, South Korea imported $60.6B in Crude Petroleum, mainly from Saudi Arabia ($18.5B), United States ($8.05B), Kuwait ($6.31B), Russia ($6.24B), and Iraq ($3.5B).

Explore Visualizations

Export Destinations (2021)

Import Origins (2021)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
Brunei$88.1M (736%)
India$38.9M (1%)
Australia$8.51M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY South Korea WERE (2020 - 2021):
Philippines-$66.7M (-60.5%)
Pakistan-$55.8M (-100%)
China-$41.5M (-100%)

Change in Exports by Market (2020 - 2021)

Market Concentration

View
Flow
Type
In 2021, South Korea's main exporting competitors in Crude Petroleum were:
In 2021, South Korea's main importing competitors in Crude Petroleum were:

Explore Visualizations

Trade Value of Crude Petroleum by Exporters

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