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

Overview In November 2022 South Korea's Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes exports accounted up to $5.06B and imports accounted up to $17.6B, resulting in a negative trade balance of $12.5B. Between November 2021 and November 2022 the exports of South Korea's   Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes have increased by $875M (20.9%) from $4.19B to $5.06B, while imports increased by $2.97B (20.3%) from $14.6B to $17.6B.

Destinations In November 2022, Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes were exported mostly to Australia ($1.12B), United States ($620M), Japan ($402M), China ($379M), and Singapore ($368M), and were imported mostly from Saudi Arabia ($3.13B), Australia ($2.83B), United States ($2.2B), United Arab Emirates ($1.31B), and Qatar ($1.28B).

Growth In November 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 November 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%).