Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes in   South Korea

Overview In September 2022 South Korea's Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes exports accounted up to $5.61B and imports accounted up to $19.9B, resulting in a negative trade balance of $14.3B. Between September 2021 and September 2022 the exports of South Korea's   Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes have increased by $1.9B (51.4%) from $3.7B to $5.61B, while imports increased by $7.5B (60.5%) from $12.4B to $19.9B.

Destinations In September 2022, Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were exported mostly to Australia ($971M), Singapore ($816M), United States ($473M), Japan ($413M), and China ($343M), and were imported mostly from Saudi Arabia ($3.37B), United States ($2.6B), Australia ($2.41B), United Arab Emirates ($1.42B), and Qatar ($1.33B).

Growth In September 2022, the increase in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes's year-by-year exports was explained primarily by an increase in exports to India ($28.1M or 44.7%), China ($18.6M or 2.86%), and Russia ($2.87M or 61.1%). In September 2022, the increase in Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes's year-by-year imports was explained primarily by an increase in imports from United Kingdom ($283M or 106k%), Brazil ($98.3M or 5.48k%), and Netherlands ($41.9M or 7.97k%).