Exports In 2020, South Korea exported $23.3B in Refined Petroleum, making it the 7th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in South Korea. The main destination of Refined Petroleum exports from South Korea are: China ($5.62B), Japan ($2.75B), United States ($2.37B), Singapore ($1.91B), and Australia ($1.55B).
The fastest growing export markets for Refined Petroleum of South Korea between 2019 and 2020 were Djibouti ($28.1M), Burkina Faso ($24.1M), and Brunei ($10.8M).
Imports In 2020, South Korea imported $12.9B in Refined Petroleum, becoming the 9th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in South Korea. South Korea imports Refined Petroleum primarily from: Russia ($1.65B), United Arab Emirates ($1.55B), Japan ($1.14B), China ($1.07B), and India ($901M).
The fastest growing import markets in Refined Petroleum for South Korea between 2019 and 2020 were Greece ($494M), Iraq ($263M), and United States ($209M).
Tariffs In 2018, the average tariff for South Korea in Refined Petroleum was 4.69%. The countries with the highest import tariffs for Refined Petroleum were Angola (Most Favoured Nation duty rate treatement, 5.72%), Burundi (Most Favoured Nation duty rate treatement, 5.72%), Benin (Most Favoured Nation duty rate treatement, 5.72%), Burkina Faso (Most Favoured Nation duty rate treatement, 5.72%), and Botswana (Most Favoured Nation duty rate treatement, 5.72%).