Petroleum Gas in South Korea 2020 Exports | Imports : $467M | $16.3B, World Rnk 40 / 152 Rnk 153 / 1207 | World Rnk 3 / 220 Rnk 3 / 1211
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $10.9M | $112M, United States | Peru
2020 ECONOMIC COMPLEXITY of South Korea: 1.88, Rnk 5 / 127
2020 PRODUCT COMPLEXITY IN Petroleum Gas: -1.98, Rnk 1003 / 1029
Exports In 2020, South Korea exported $467M in Petroleum Gas, making it the 40th largest exporter of Petroleum Gas in the world. At the same year, Petroleum Gas was the 153rd most exported product in South Korea. The main destination of Petroleum Gas exports from South Korea are: China ($278M), Japan ($52.4M), United States ($28.5M), Chinese Taipei ($17.9M), and Russia ($10.9M).
The fastest growing export markets for Petroleum Gas of South Korea between 2019 and 2020 were United States ($10.9M), China ($8.5M), and Australia ($1.53M).
Imports In 2020, South Korea imported $16.3B in Petroleum Gas, becoming the 3rd largest importer of Petroleum Gas in the world. At the same year, Petroleum Gas was the 3rd most imported product in South Korea. South Korea imports Petroleum Gas primarily from: United States ($3.72B), Qatar ($3.68B), Australia ($2.69B), Oman ($1.58B), and Malaysia ($1.57B).
The fastest growing import markets in Petroleum Gas for South Korea between 2019 and 2020 were Peru ($112M), Angola ($110M), and United States ($94.1M).
Tariffs In 2018, the average tariff for South Korea in Petroleum Gas was 2.62%. The countries with the highest import tariffs for Petroleum Gas were Botswana (Most Favoured Nation duty rate treatement, 4.2%), Cote d'Ivoire (Most Favoured Nation duty rate treatement, 4.2%), Cameroon (Most Favoured Nation duty rate treatement, 4.2%), Republic of the Congo (Most Favoured Nation duty rate treatement, 4.2%), and Cape Verde (Most Favoured Nation duty rate treatement, 4.2%).
Overview In January 2023 South Korea's Petroleum Gas exports accounted up to $25.6M and imports accounted up to $6.75B, resulting in a negative trade balance of $6.72B. Between January 2022 and January 2023 the exports of South Korea's Petroleum Gas have decreased by $-11.8M (-31.6%) from $37.4M to $25.6M, while imports increased by $360M (5.63%) from $6.39B to $6.75B.
Destinations In January 2023, Petroleum Gas were exported mostly to China ($6.79M), Japan ($6.01M), United States ($1.67M), Russia ($1.23M), and United Kingdom ($1.05M), and were imported mostly from Australia ($1.66B), United States ($1.25B), Oman ($894M), Malaysia ($596M), and Qatar ($582M).
Growth In January 2023, the decrease in Petroleum Gas's year-by-year exports was explained primarily by a decrease in exports to China ($-13.6M or -47.3%), United Arab Emirates ($-108k or -35.8%), and Philippines ($-104k or -28%). In January 2023, the increase in Petroleum Gas's year-by-year imports was explained primarily by an increase in imports from Australia ($932M or 379%), United States ($922M or 145%), and Malaysia ($667M or 508%).
EXPORT GROWTH (January 2022 - January 2023): $-11.8M, (-31.6%)
IMPORT GROWTH (January 2022 - January 2023): $360M, (5.63%)
MAIN DESTINATION (January 2023): China, $6.79M
This section shows Petroleum Gas'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 Petroleum Gas over time.
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EXPORTS (2020): $467M
IMPORTS (2020): $16.3B
NET TRADE (2020): -$15.9B
In 2020, South Korea exported $467M in Petroleum Gas. The main destinations of South Korea exports on Petroleum Gas were China ($278M), Japan ($52.4M), United States ($28.5M), Chinese Taipei ($17.9M), and Russia ($10.9M).
In 2020, South Korea imported $16.3B in Petroleum Gas, mainly from United States ($3.72B), Qatar ($3.68B), Australia ($2.69B), Oman ($1.58B), and Malaysia ($1.57B).
THE FASTEST GROWING Petroleum Gas EXPORT MARKETS FOR South Korea WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Petroleum Gas BY South Korea WERE (2019 - 2020):
In 2020, South Korea's main exporting competitors in Petroleum Gas were:
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