HS Icon Crude Petroleum in  Flag South Korea

2020
Exports | Imports
: $256M | $42.2B, World Rnk 55 / 132
Flag Rnk 209 / 1207 | World Rnk 4 / 145
Flag Rnk 1 / 1211

2020
ECONOMIC COMPLEXITY of South Korea
: 1.88, Rnk 5 / 127

2020
PRODUCT COMPLEXITY  IN Crude Petroleum
: -2.2, Rnk 1018 / 1029

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%).

Subnational Monthly Trade

#permalink to section
Time Scale
Flow
Value

IMPORT GROWTH (January 2022 - January 2023): $-560M, (-7.47%)

MAIN DESTINATION (January 2023): Algeria, $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.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Historical Data

#permalink to section
Value
Compare to

EXPORTS (2020): $256M

IMPORTS (2020): $42.2B

NET TRADE (2020): -$41.9B

In 2020, South Korea exported $256M in Crude Petroleum. The main destinations of South Korea exports on Crude Petroleum were Philippines ($110M), Pakistan ($55.9M), China ($41.5M), Thailand ($26.4M), and Brunei ($12M).

In 2020, South Korea imported $42.2B in Crude Petroleum, mainly from Saudi Arabia ($12.8B), Russia ($5.03B), United States ($4.88B), Kuwait ($4.78B), and United Arab Emirates ($3.18B).

Explore Visualizations

Flow

Market Concentration

#permalink to section
View
Flow
Type

In 2020, South Korea's main exporting competitors in Crude Petroleum were:

In 2020, South Korea's main importing competitors in Crude Petroleum were:

Explore Visualizations