2022
Exports
$61.4BWorld Rnk 6 / 214
Flag Rnk 2 / 1204
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$26.1BWorld Rnk 10 / 225
Flag Rnk 5 / 1213
2022
ECONOMIC COMPLEXITY of South Korea
1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $61.4B in Refined Petroleum, making it the 6th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in South Korea. The main destination of Refined Petroleum exports from South Korea are: Australia ($10.5B), Singapore ($7.15B), United States ($5.93B), Japan ($4.83B), and Philippines ($4.55B).

The fastest growing export markets for Refined Petroleum of South Korea between 2021 and 2022 were Australia ($7.17B), Philippines ($2.86B), and Singapore ($2.84B).

Imports In 2022, South Korea imported $26.1B in Refined Petroleum, becoming the 10th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 5th most imported product in South Korea. South Korea imports Refined Petroleum primarily from: United Arab Emirates ($4.55B), India ($2.58B), Japan ($2.3B), Algeria ($2.21B), and Qatar ($2.13B).

The fastest growing import markets in Refined Petroleum for South Korea between 2021 and 2022 were United Arab Emirates ($1.93B), Algeria ($1.06B), and Qatar ($916M).

COMPANIES In 2023, leading companies such as SAMSUNG ELECTORNICS AMERICA, INC. (11), TESLA, INC. (5), and NEXEN TIRE AMERICA INC. (3) were at the forefront of shipping Refined Petroleum from South Korea to the United States.

Latest Trends

March 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (March 2023 - March 2024)$77.1M(1.71%)
IMPORT GROWTH (March 2023 - March 2024)$250M(12.9%)
MAIN DESTINATION (March 2024)Australia$1.05B

This section shows Refined 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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$61.4B
IMPORTS (2022)$26.1B
NET TRADE (2022)$35.3B

In 2022, South Korea exported $61.4B in Refined Petroleum. The main destinations of South Korea exports on Refined Petroleum were Australia ($10.5B), Singapore ($7.15B), United States ($5.93B), Japan ($4.83B), and Philippines ($4.55B).

In 2022, South Korea imported $26.1B in Refined Petroleum, mainly from United Arab Emirates ($4.55B), India ($2.58B), Japan ($2.3B), Algeria ($2.21B), and Qatar ($2.13B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Australia$7.17B (216%)
Philippines$2.86B (170%)
Singapore$2.84B (65.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY South Korea WERE (2021 - 2022):
China-$2.45B (-41.5%)
Chinese Taipei-$620M (-41.9%)
India-$227M (-19.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Refined Petroleum were:
In 2022, South Korea's main importing competitors in Refined Petroleum were:

Explore Visualizations

Trade Value of Refined Petroleum by Exporters

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