HS Icon Mineral fuels, mineral oils and products of their distillation in  Flag South Korea

2019
Exports | Imports
: $42.4B | $121B, World Rnk 15 / 218
Flag Rnk 4 / 96 | World Rnk 5 / 225
Flag Rnk 1 / 96

2018 - 2019
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $818M | $3.42B, United States |  United States

2019
ECONOMIC COMPLEXITY of South Korea
: 1.9, Rnk 5 / 147

2019
PRODUCT COMPLEXITY  IN Mineral fuels, mineral oils and products of their distillation
: -2.45, Rnk 96 / 96

Exports In 2019, South Korea exported $42.4B in Mineral fuels, mineral oils and products of their distillation, making it the 15th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 4th most exported product in South Korea. The main destination of Mineral fuels, mineral oils and products of their distillation exports from South Korea are: China ($8.1B), United States ($4.29B), Japan ($4.23B), Singapore ($3.72B), and Australia ($3.19B).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of South Korea between 2018 and 2019 were United States ($818M), Malta ($296M), and United Kingdom ($267M).

Imports In 2019, South Korea imported $121B in Mineral fuels, mineral oils and products of their distillation, becoming the 5th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 1st most imported product in South Korea. South Korea imports Mineral fuels, mineral oils and products of their distillation primarily from: Saudi Arabia ($18.6B), United States ($13.6B), Russia ($13.2B), Qatar ($11.6B), and Kuwait ($9.54B).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for South Korea between 2018 and 2019 were United States ($3.42B), Chinese Taipei ($926M), and Mexico ($694M).

Tariffs In 2018, the average tariff for South Korea in Mineral fuels, mineral oils and products of their... was 4.2%. The countries with the highest import tariffs for Mineral fuels, mineral oils and products of their... were Bangladesh (Most Favoured Nation duty rate treatement, 5.43%), Sri Lanka (Most Favoured Nation duty rate treatement, 5.26%), Angola (Most Favoured Nation duty rate treatement, 5.25%), Burundi (Most Favoured Nation duty rate treatement, 5.25%), and Benin (Most Favoured Nation duty rate treatement, 5.25%).

June 2021

Subnational Monthly Trade

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Time Scale
Flow
Value

EXPORT GROWTH (June 2020 - June 2021): $1.41B, (80.3%)

IMPORT GROWTH (June 2020 - June 2021): $5.19B, (103%)

MAIN DESTINATION (June 2021): China, $509M

This section shows Mineral fuels, mineral oils and products of their distillation'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 Mineral fuels, mineral oils and products of their distillation over time.

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Historical Data

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EXPORTS (2019): $42.4B

IMPORTS (2019): $121B

NET TRADE (2019): -$78.9B

In 2019, South Korea exported $42.4B in Mineral fuels, mineral oils and products of their distillation. The main destinations of South Korea exports on Mineral fuels, mineral oils and products of their distillation were China ($8.1B), United States ($4.29B), Japan ($4.23B), Singapore ($3.72B), and Australia ($3.19B).

In 2019, South Korea imported $121B in Mineral fuels, mineral oils and products of their distillation, mainly from Saudi Arabia ($18.6B), United States ($13.6B), Russia ($13.2B), Qatar ($11.6B), and Kuwait ($9.54B).

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IN 2019, South Korea HAD A POSITIVE NET TRADE IN Mineral fuels, mineral oils and products of their distillation WITH:

IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Mineral fuels, mineral oils and products of their distillation WITH:

Flow

THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR South Korea WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY South Korea WERE (2018 - 2019):

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Market Concentration

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Type

In 2019, South Korea's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:

In 2019, South Korea's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Mineral fuels, mineral oils and products of their distillation was 4.2%.

The countries with the highest tariffs for Mineral fuels, mineral oils and products of their distillation in South Korea were Bangladesh (Most Favoured Nation duty rate treatement, 5.43%), Sri Lanka (Most Favoured Nation duty rate treatement, 5.26%), Angola (Most Favoured Nation duty rate treatement, 5.25%), Burundi (Most Favoured Nation duty rate treatement, 5.25%), and Benin (Most Favoured Nation duty rate treatement, 5.25%).